Trump invested in Netflix and Warner, criticizing the idea of their merger. Was he able to make money?

US President Donald Trump invested between $1.6 million and $3.25 million in corporate bonds of Netflix and Warner Bros. Discovery in the midst of a takeover bid for the latter, which the streaming giant eventually lost. The deals were done through a trust amid public criticism of the merger from Trump himself. The purchase of Warner Bros. debt securities turned out to be a successful bet on the risk premium, while Netflix bonds showed stability, allowing the head of the White House to at least preserve capital.

Trump purchased Warner Bros. bonds in mid-December 2025 for the amount of $500 thousand or more, Reuters reports, citing declarations. The White House did not specify the exact cost, but only a range - from $500 thousand to $1 million. At the time of purchase, these securities were trading at $0.92 per dollar of face value, and are now valued at $0.95. If Trump has kept the bonds in his portfolio, then now his position is in the plus, the agency states.

Debentures Netflix U.S. President purchased in December-January - in the amount of $1.1 million to $2.25 million. According to LSEG, in the days of the transactions bonds streaming company were quoted at $1.03-1.04 per dollar face value. On Feb. 26 - the day before Netflix gave up its fight for Warner Bros. assets - the securities were priced at $1.04. By March 6, their price had returned to $1.03, the article said.

The purchases took place against the backdrop of the White House and regulators under his control publicly criticizing Netflix, questioning the ability of the Warner Bros. takeover deal to pass antitrust scrutiny, as well as putting pressure on Netflix to fire board member Susan Rice, a former adviser to former U.S. President Barack Obama. Warner Bros. eventually went to Paramount, which is run by the son of Trump ally and major Republican Party donor Larry Ellison, the agency recalls.

Legally, Trump, like other U.S. presidents, is not subject to the conflict of interest law that prohibits executive branch officials from investing in businesses that depend on government decisions. "President Trump's assets are in a trust managed by his children. There is no conflict of interest here," White House deputy press secretary Anne Kelly told Reuters.

Netflix shares have soared in price by 19.6% over the last month. The growth of Warner Bros. quotes was much more modest - 1.4%. According to FactSet, the consensus of Wall Street analysts on both companies has not changed - as a month ago, most experts recommend to buy Netflix securities (40 out of 55) and hold Warner Bros. securities (20 out of 24). The average target prices calculated by the service suggest a potential upside of 15% and 7.7%, respectively, over the course of the year.

This article was AI-translated and verified by a human editor