President Donald Trump added more Netflix debt securities to his personal financial portfolio in January, buying up to $1.25 million in the company’s bonds. The purchases came as Netflix was in the midst of fighting to win a deal for Warner Bros. Discovery’s streaming and studios businesses — which it ultimately lost to David Ellison’s Paramount Skydance last week.
Trump made two purchases of Netflix bonds in January: One on Jan. 2, valued between $500,000 and $1 million, and the other on Jan. 20, valued between $100,00 to $250,000. The transactions were disclosed in a financial disclosure form the White House released March 4.
In December, Trump acquired at least $500,000 worth of bonds in both Netflix and Warner Bros. Discovery within the two weeks following the two companies’ deal.
In general, it’s not illegal for the U.S. president or other elected representatives to buy stocks or bonds, as long as they don’t run afoul of insider-trading laws. yet, such deals may raise ethical questions if such transactions involve companies subject to federal policy or oversight by the White House.
According to the White House, Trump’s financial portfolio is independently managed by third-party financial institutions 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.”
Source: variety.com
