Trump Secretly Bought $1.1M Netflix Bonds While Opposing Its Deal
Synopsis
Financial disclosures show President Trump purchased more than $1.1 million in Netflix bonds between December and January while his administration questioned Netflix’s bid to acquire Warner Bros. Discovery. Records also show he bought Warner Bros. bonds during the same period. Paramount Skydance, backed by Trump ally Larry Ellison, ultimately won the $110 billion bidding war. Netflix exited the deal with a $2.8 billion breakup fee. The White House says Trump has no control over how investments in his portfolio are made.
Trump purchased more than $1.1 million in Netflix bonds and up to $1 million in Warner Bros. bonds while his administration publicly criticised Netflix’s merger bid. Paramount, backed by Trump ally Larry Ellison, won the $110 billion bidding war. Netflix exited with a $2.8 billion breakup fee.
Key Highlights:
- Trump purchased over $1.1M in Netflix bonds while criticising its Warner Bros. deal
- He also bought Warner Bros. bonds during the peak of the bidding war
- Paramount, led by the son of Trump ally Larry Ellison, ultimately won with a $110B offer
- The White House says Trump has no control over the investments
- Netflix exited the deal with a $2.8B breakup fee
Trump Was Buying While Talking It Down
Between December and January, Trump purchased more than $1.1 million in Netflix bonds across four trades. At the same time, he and his administration were publicly questioning whether Netflix’s bid to acquire Warner Bros. He called the deal problematic while simultaneously buying the company’s bonds.
Trump also pressured Netflix to remove board member Susan Rice, a former adviser to President Barack Obama. Public pressure on one side, financial investments on the other.
The Warner Bros. Bonds Too
Trump didn’t just invest in Netflix. He also bought between $500,002 and $1 million worth of Warner Bros. bonds through two trades on December 12 and 16. Both sides of the same corporate battle were purchased during the same stretch of time.
At the time of the purchases, the Warner Bros. bonds were trading around 92 cents on the dollar. They’re now worth about 95 cents. If the bonds are still in his portfolio, the value has increased.
Paramount Had Friends in High Places
Paramount is run by the son of Larry Ellison, a major Republican donor and longtime Trump ally. Ellison personally guaranteed more than $40 billion to support the acquisition, using his Oracle shares as collateral.
Ultimately, Paramount won the bidding war with a $110 billion offer. The acquisition will be financed with roughly $39 billion in new debt from Bank of America, Citigroup, and Apollo. Netflix chose not to raise its bid and stepped away from the deal, collecting a $2.8 billion breakup fee instead.
The White House Response
A White House official said that Trump’s investments are designed to mirror established financial indexes. According to the official, neither Trump nor his family has the ability to direct or influence when investments are bought or sold.
Trump has reported assets exceeding $1 billion, spanning cryptocurrencies, golf properties, and licensing agreements. Ethics experts say investments tied to companies affected by his administration’s policies could raise questions about potential conflicts of interest.
FAQs
Q: How much did Trump invest in Netflix bonds?
A: Government disclosures show between $1.1 million and $2.25 million in Netflix bonds purchased across four trades between December and January.
Q: Did Trump also buy Warner Bros. bonds?
A: Yes. He purchased between $500,002 and $1 million in Warner Bros. bonds in two trades during December.
Q: Did Netflix lose everything by dropping out?
A: No. Netflix walked away with a $2.8 billion breakup fee and maintained its investment-grade credit rating.
Q: Does Trump personally manage these investments?
A: The White House says he does not and that the portfolio is structured to mirror existing financial indexes.
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