--- title: "\"The White House Stock God\" is both a regulator and an investor: As Netflix and Warner Bros. Discovery are brewing a \"century merger,\" Trump buys their bonds" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/272891812.md" description: "Trump purchased bonds from Netflix and Warner Bros. Discovery against the backdrop of overlapping regulatory roles and investor identity, raising market concerns about conflicts of interest and insider trading. His investment portfolio expanded during his second presidential term, involving multiple industries, especially as these two media giants announced merger plans. Trump's investment activities are closely related to his government policies and may impact the acquisition process of Netflix" datetime: "2026-01-17T04:31:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/272891812.md) - [en](https://longbridge.com/en/news/272891812.md) - [zh-HK](https://longbridge.com/zh-HK/news/272891812.md) --- > 支持的语言: [English](https://longbridge.com/en/news/272891812.md) | [繁體中文](https://longbridge.com/zh-HK/news/272891812.md) # "The White House Stock God" is both a regulator and an investor: As Netflix and Warner Bros. Discovery are brewing a "century merger," Trump buys their bonds According to the latest official disclosure from the White House, U.S. President Donald Trump purchased approximately $100 million worth of municipal and corporate bonds from mid-November to the end of December, including bonds issued by two major Hollywood giants—Netflix (NFLX.US) and Warner Bros. Discovery (WBD.US)—with a total amount reaching $2 million. Trump's large-scale purchase of their bond assets comes shortly after these two Hollywood giants announced an ambitious streaming merger plan, and the U.S. government under Trump's leadership is playing a key role in this "Hollywood century merger." Therefore, Trump's actions have undoubtedly raised concerns among some Wall Street institutional investors, who believe that Trump's latest bond market operations involve some degree of insider trading and significant conflicts of interest between Trump and these two entertainment giants. According to the official financial disclosure documents released on Thursday and Friday, the majority of Trump's personal investment portfolio's buying operations are concentrated in municipal-type bonds from cities, local school districts, public utilities, and hospitals. However, he also purchased corporate bonds from publicly listed companies in the U.S., including Boeing (BA.US), Occidental Petroleum (OXY.US), and General Motors (GM.US). These investments represent the latest disclosed asset scale during Trump's second term as U.S. President, showing that his investment portfolio is actively expanding, covering multiple sectors influenced by Trump administration policies and certain tweets, which has sparked market discussions regarding conflicts of interest and "insider trading." For example, Trump stated in December that the U.S. government he leads would decide whether Netflix could continue to pursue its proposed $83 billion acquisition of Warner Bros. Discovery, a potential large-scale merger currently stalled due to a competing acquisition proposal from Paramount Skydance (PSKY.US). From a regulatory perspective, any company acquisition of Warner Bros. requires approval from the U.S. federal antitrust agency led by Trump. In response to the insider trading and conflict of interest concerns raised by some Wall Street institutional investors, a White House official stated on Friday that President Trump's stock and bond investment portfolio is independently managed by a third-party financial institution, and Trump himself and his family have no ability to direct, influence, or provide opinions on how to invest that portfolio. Like many of America's wealthiest individuals, Trump regularly purchases bond assets as an important part of his large investment portfolio. A previous official disclosure from the White House indicated at least $82 million in bond purchases from late August to early October. **Concerns About Conflicts of Interest** In the nearly $100 billion Hollywood century merger case where Netflix is attempting to acquire Warner Bros. Discovery, the Trump administration has played an unusually participatory role—more involved than the typical regulatory oversight. Trump has publicly stated that he will personally intervene to review Netflix's acquisition plan of Warner Bros. and is concerned about the market dominance issues that the transaction may bring, including potential antitrust concerns Reports have directly mentioned that the regulatory process for this merger will take place under Trump, who has also stated that he will participate in this process, which is very rare in the history of antitrust in the United States. Trump's investment disclosures show that he purchased assets including bonds from Netflix and Warner, with the timing of these bond purchases closely following the announcement of the merger news. This overlap in timing has raised questions among some Wall Street institutional investors about potential "conflicts of interest," as the head of government is involved in the formulation or review of related policies while personally holding securities assets of such companies. Additionally, reports indicate that Trump's son-in-law Jared Kushner played a financing role in Paramount's bid for Warner Bros., leading critics to believe that the interests of the presidential family may overlap with the merger competition, further intensifying concerns about potential conflicts. These factors together form a common concern structure in the market: "Could U.S. government antitrust regulators potentially influence the approval results of significant mergers due to private investments or the familial relationships of the U.S. president?" The potential merger of Netflix acquiring Warner Bros. is currently facing complex developments due to competitive bids from Paramount Skydance, remaining in a multi-faceted game of bidding and regulatory review. **For Netflix, if it successfully acquires Warner, it will possess an incredibly vast IP library.** For Netflix's streaming business platform, which is most reliant on revenue, successfully acquiring Warner Bros. (including the "non-cable assets" under this transaction scope, such as Warner Bros. Pictures/TV production, HBO, HBO Max, and its film library) essentially means that Netflix will upgrade from a "pure platform-based streaming service" to an integrated giant of "platform + top-tier film studio + super film library/IP," transforming high-value content that has long needed to be procured/licensed externally into controllable long-term assets, thus gaining a significant advantage in the "streaming wars." For Netflix, a global streaming superpower that already possesses a wide range of popular IPs, acquiring Warner Bros. will significantly enhance the content moat and pricing power of the streaming company: it can improve retention with classic film libraries and long-running series, drive new films, spin-offs, games, licensing, and peripheral monetization with super IPs; at the same time, it can integrate HBO's globally popular "premium drama" capabilities into Netflix's global distribution system. If the deal goes through, the popular IPs that Netflix will possess (according to publicly reported key content repeatedly mentioned/listed) mainly include numerous fantasy/super IPs, such as Harry Potter/Magic World (including "Fantastic Beasts"), the DC Universe (Batman, Superman, Wonder Woman, Suicide Squad, etc.), The Matrix series, The Conjuring series, The Lord of the Rings series, The Hobbit series, and the Dune series, among other globally popular IPs, as well as HBO's flagship drama universe—such as the Game of Thrones series (including spin-offs like "House of the Dragon" and "Knight of the Seven Kingdoms") ### 相关股票 - [Netflix (NFLX.US)](https://longbridge.com/zh-CN/quote/NFLX.US.md) - [Warner Bros. Discovery (WBD.US)](https://longbridge.com/zh-CN/quote/WBD.US.md) ## 相关资讯与研究 - [Netflix quietly raises US subscription prices across all streaming tiers](https://longbridge.com/zh-CN/news/280810162.md) - [FOCUS-Netflix searches for franchises after losing out on Harry Potter](https://longbridge.com/zh-CN/news/281502386.md) - [Netflix, Warner Bros fend off Pepperdine lawsuit over 'Running Point' series](https://longbridge.com/zh-CN/news/281428367.md) - [Here's Why Citizens Is Cautious on Netflix Stock (NFLX), While Needham Stays Bullish](https://longbridge.com/zh-CN/news/281052869.md) - [Westmount Partners LLC Acquires 27,165 Shares of Netflix, Inc. $NFLX](https://longbridge.com/zh-CN/news/281366525.md)