Trump’s Oil and Gas Holdings Surge to $81.6 Million as Iran War Drives Up Costs for Americans
WASHINGTON — President Donald Trump’s personal wealth tied to oil and gas stocks has increased by as much as $35.8 million since the beginning of 2026, bringing the estimated value of his holdings in the sector to as much as $81.6 million, according to a new analysis released by the Democratic minority staff of the Joint Economic Committee.
The report, released by the committee’s Democratic staff, estimates that Trump’s oil and gas holdings have nearly doubled in value compared with the amount he held at the end of 2025. The findings have intensified scrutiny of the president’s financial interests as the war with Iran contributes to rising energy costs for American consumers.
According to the analysis, approximately 94% of Trump’s oil and gas stock purchases this year occurred after the war began on Feb. 28. The report estimates that the president purchased as much as $17.5 million in additional oil and gas stocks following the start of the conflict, potentially increasing his financial exposure to an industry benefiting from higher energy prices.
The report does not establish that Trump made investment decisions based on confidential information or that his policies were adopted to benefit his personal portfolio. However, its findings raise questions about potential conflicts of interest when a sitting president holds investments in companies whose financial performance may be affected by his administration’s foreign policy and energy decisions.
The analysis also examines the growing financial burden on American households. According to the committee’s calculations, consumers nationwide have spent an additional $101 billion on gasoline since the start of the Iran war, representing an average of approximately $856 in additional expenses per family.
Those figures place the president’s reported investment gains alongside the financial pressures facing millions of Americans who rely on their vehicles for work, school, shopping and other daily necessities. For households already contending with elevated living expenses, rising gasoline prices can leave less money available for groceries, housing, utilities and other essential costs.
The report’s release follows comments Trump made over the weekend in which he touted the profits generated by the oil and gas industry amid the conflict with Iran. During his remarks, the president dismissed criticism that Americans were struggling with higher gasoline prices, saying, “I don’t give a damn” that people were suffering at the pump.
The comments prompted renewed criticism from Democrats, who argue that the administration’s emphasis on industry profits contrasts sharply with the financial challenges confronting consumers.
Sen. Maggie Hassan, D-N.H., the ranking member of the Joint Economic Committee, said the conflict has increased costs for American motorists while contributing to greater wealth for energy companies and potentially boosting the value of the president’s investments.
“Trump’s Iran War has forced Americans to pay much more at the pump while Big Oil rakes in profits and the President’s own stock wealth in the oil and gas industry continues to balloon,” Hassan said.
She also questioned the appropriateness of a sitting president continuing to own and trade individual stocks in companies that could benefit from decisions made by his administration.
“As Trump — the country's highest ranking public employee — continues to own and trade stocks in companies that stand to benefit from his decisions, his actions raise major concerns about conflicts of interest,” Hassan said. “Unfortunately, this is nothing new from this administration and only reinforces that the President puts his own financial interests above the American people.”
The concerns center on the unusual position occupied by a president whose decisions can influence global markets, energy prices, corporate revenues and the value of individual investments. Presidential actions involving military operations, sanctions, international trade and domestic energy policy can have significant financial consequences for businesses operating in affected industries.
Experts have previously noted that presidents generally face heightened scrutiny when holding individual stocks while in office because government decisions can directly or indirectly affect the companies in their portfolios. Trump’s reported purchases of energy stocks have drawn particular attention because the oil and gas industry stands to benefit financially from certain market conditions and policy decisions associated with the administration.
The committee’s analysis identifies investments in major energy companies and examines their potential relationship to the administration’s decisions, including the war with Iran and other actions affecting the industry. The report’s findings, however, do not by themselves demonstrate that any particular policy was adopted for the purpose of increasing the value of Trump’s holdings.
The latest report is part of Hassan’s broader effort, as the committee’s top Democrat, to measure the economic effects of the administration’s policies on American families. Her office has also criticized the administration’s tariffs and other measures that Democrats say have contributed to higher prices across the country.
Hassan has pledged to continue examining what she describes as the president’s personal financial gains during his time in office, while pressing the administration to reverse policies that Democrats argue have increased costs for consumers.
The competing financial realities highlighted in the report are likely to fuel further debate over the economic consequences of the Iran war, the relationship between energy markets and U.S. foreign policy, and the safeguards intended to prevent conflicts between a president’s private financial interests and public responsibilities.
For American motorists, the immediate concern is the cost of filling their tanks. For critics of the administration, the report raises a broader question: whether the financial interests of the nation’s highest elected official are sufficiently separated from decisions that can affect the fortunes of the industries in which he invests.
The findings and financial estimates cited in this article are attributed to the Democratic minority staff of the Joint Economic Committee. The report’s estimates of investment values and additional gasoline spending should be understood as the committee staff’s calculations, rather than independently established totals.