Donald Trump invests in Netflix, Warner Bros Discovery bonds

US President Donald Trump purchased $100 million in municipal and corporate bonds from mid-November to late December. This also include $2 million in Netflix and Warner Bros Discovery bonds just a week after they announced their merger.

On Thursday and Friday, financial disclosure showed the majority of Trump’s purchases were in municipal bonds from cities, local school districts, utilities and hospitals. But he also bought bonds from companies including Boeing, Occidental Petroleum and General Motors.

The investments were the latest reported assets added to Trump’s expanding portfolio while he was in office. It included holdings in sectors that benefit from his policies, raising questions about conflicts of interest.

For example, Trump said in December that he would have a say in whether Netflix can proceed with its proposed $83 billion acquisition of Warner Bros Discovery, which faces a rival bid from Paramount Skydance. Any deal to acquire Warner Bros will need regulatory approval.

A White House official, who spoke on the condition of anonymity, said on Friday that Trump’s stock and bond portfolio is independently managed by third-party financial institutions and neither Trump nor any member of his family has any ability to direct, influence or provide input regarding how the portfolio is invested. Like many wealthy individuals, Trump regularly bought bonds as part of his investment portfolio.

He previously disclosed at least $82 million in bond purchases from late August to early October.