US President Donald Trump purchased approximately $100 million worth of municipal and corporate bonds between mid-November and late December, according to recent financial disclosures released on Thursday and Friday.
The filings show that the majority of the investments were directed toward municipal bonds issued by cities, local school districts, utilities, and hospitals, reflecting a traditionally stable segment of the bond market.
The disclosures also revealed that Trump invested in corporate bonds from major companies, including Netflix, Warner Bros Discovery, Boeing, Occidental Petroleum, and General Motors.
Notably, up to $2 million was invested in bonds issued by Netflix and Warner Bros Discovery shortly after the companies announced plans for a merger. The timing of those purchases has drawn attention, particularly given the regulatory scrutiny surrounding the proposed deal.
Trump had stated in December that he would have a role in decisions related to whether Netflix could proceed with its planned $83 billion acquisition of Warner Bros Discovery, a deal that also faces competition from a rival bid by Paramount Skydance. Any acquisition involving Warner Bros Discovery would require regulatory approval, adding to concerns about potential conflicts of interest.
These bond purchases form part of a broader expansion of Trump’s reported investment portfolio during his time in office. Critics have raised questions about holdings in sectors that could benefit from presidential policies, highlighting ethical concerns and calls for transparency.
In response, a White House official, speaking on condition of anonymity, said Trump’s stock and bond holdings are managed independently by third-party financial institutions. According to the official, neither Trump nor any member of his family can direct, influence, or provide input on specific investment decisions.
Like many high-net-worth individuals, Trump has frequently invested in bonds as a means of diversifying his assets and managing risk. Earlier disclosures showed he had already purchased at least $82 million in bonds between late August and early October, indicating a consistent pattern of bond investments over recent months.
The latest disclosures are expected to further fuel debate over financial transparency and potential conflicts of interest involving senior public officeholders.
