Recent financial disclosures reveal former President Donald Trump acquired approximately $100 million in municipal and corporate bonds between mid-November and late December 2025, including substantial holdings in Netflix and Warner Bros Discovery securities. This investment activity occurred mere weeks after the entertainment giants announced their proposed merger—a transaction requiring regulatory approval from the very administration Trump led.
The documentation, released Thursday and Friday, indicates the majority of Trump’s purchases consisted of municipal bonds supporting local infrastructure, school districts, utilities, and hospitals. Corporate bond acquisitions extended beyond media companies to include aerospace manufacturer Boeing, energy firm Occidental Petroleum, and automotive leader General Motors.
This portfolio expansion intensifies existing ethical concerns regarding potential conflicts of interest, as Trump maintains investments in sectors directly affected by federal policies and regulatory decisions. The Netflix-Warner Bros merger presents a particularly notable case, given that Trump publicly commented in December about having “a say” in the transaction’s approval process, which currently faces a competing bid from Paramount Skydance.
A White House representative, speaking anonymously, asserted that Trump’s investment portfolio is managed independently by third-party financial institutions without direct influence from the former president or his family. This defense mirrors previous statements addressing Trump’s continuous bond acquisitions, which previously included at least $82 million in purchases between late August and early October 2025.
The situation highlights ongoing tensions between personal financial interests and governmental responsibilities, reviving debates about wealth management protocols for high-ranking officials whose investment decisions may intersect with policy domains.