Trump's oil and gas holdings swell as war with Iran boosts industry profits

According to a Democratic minority report from the Congressional Joint Economic Committee, President Trump's holdings in oil and gas companies have increased from $12.6 million-$46 million at the end of 2025 to a range of $22.5 million-$81.6 million, an average gain of 43%. The data, derived from the Office of Government Ethics filings, show Trump purchased between $4.7 million and $17.5 million in oil and gas stocks after the Iran war began in February and sold between $2 million and $5.4 million during the same window.

He has significant positions in Chevron and ExxonMobil, each worth up to $23.1 million and $18.4 million respectively. While the president boasted that U.S. energy firms are earning “hundreds of billions of dollars,” American drivers face higher pump prices, with regular-gas averages rising from $2.87 to $4.29 per gallon. Critics, including Sen. Maggie Hassan, argue the situation raises conflict-of-interest concerns as the president’s decisions could affect the very market that is enriching his portfolio.