Trump Invests $1M in Netflix, Warner Bros Bonds After Merger Comments
Former President Donald Trump has made headlines after investing over $1 million in bonds from Netflix and Warner Bros Discovery (WBD). This financial move comes just days after his comments about a proposed merger between the two companies.
Investment Details
According to a financial disclosure form released by the White House, Trump purchased bonds valued at at least $502,000 from both Netflix and WBD. The transactions took place on December 12 and December 16, 2023. This followed Netflix’s announcement of an $82.7 billion acquisition of WBD. The deal is currently under regulatory review.
Comments on Market Share
On December 7, 2023, Trump expressed his interest in the merger during an event at the Kennedy Center. He noted the considerable market share that the merger could command. “When they have Warner Bros, that share goes up a lot,” he stated. Trump’s upcoming involvement in the merger’s regulatory process has raised questions about potential conflicts of interest.
Industry Reactions
- Senator Elizabeth Warren criticized the Netflix-WBD merger, dubbing it an “anti-monopoly nightmare.”
- The Writers Guild of America voiced concerns about job losses and the impact on content diversity.
Broader Financial Activities
Overall, Trump has invested approximately $100 million in municipal and corporate bonds from mid-November to late December 2023. He had previously invested over $100 million in various bonds during his second term as President, including stakes in financial giants like Citigroup and Wells Fargo.
Portfolio Management
An unnamed administration official commented that Trump’s financial portfolio is managed by third-party institutions. This arrangement means that neither Trump nor his family has direct control over investment decisions.
With the implications of his financial activities and public statements, Trump’s involvement in the media and entertainment sectors continues to attract significant attention and scrutiny.
