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The disclosure, which is dated January 14, does not list the precise value of each purchase, instead offering a range.
US President Donald Trump reportedly acquired corporate bonds issued by Netflix and Warner Bros. Discovery, valued as high as $1 million each, just weeks after the companies announced their merger.
A financial disclosure released by the White House, as cited by The Hollywood Reporter, revealed that the debt securities were acquired in the days after Netflix announced its blockbuster $83 billion deal for Warner Bros.
The White House released the disclosure for the President late Thursday, listing dozens of transactions with a total value well over $100 million, including the acquired debt from the entertainment companies, according to The Hollywood Reporter.
The disclosure, which is dated January 14, does not list the precise value of each purchase, instead offering a range.
What did the disclosure show?
According to the disclosure form, Trump acquired two tranches of Netflix bonds, one purchase valued at between $250,001-$500,000 on December 12, and a second purchase at between $250,001-$500,000 made December 16. The Netflix bonds are set to mature in November 2029.
The form also shows that Trump acquired bond issues by Discovery Communications LLC, a subsidiary of Warner Bros. Discovery.
The first tranche was acquired on December 12 and is valued at $250,001-$500,000, and the second purchase of WBD bonds was made on December 16 with a listed value of between $250,001-$500,000. The WBD bonds mature in 2030, the Hollywood Reporter stated.
The purchase of the Netflix and WBD debt securities began just a week after the two companies inked their megadeal, though David Ellison’s Paramount is trying to pry WBD away from Netflix with a hostile tender offer, and a potential proxy fight, the report added.
Trump also acquired a similar number of corporate bonds issued by SiriusXM, the filing shows, alongside dozens of other purchases.
A White House official tells The Hollywood Reporter that the President’s investments are meant to replicate established indexes, and that “neither President Trump nor any member of his family has any ability to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold. All investment decisions are made entirely by independent managers.”
As per the report, most of the bonds Trump acquired in December were municipal bonds from states and cities across the country, but it also included many corporate bonds from major US companies, including General Motors, Boeing, Macy’s and Victoria’s Secret.
English (US) ·