FOR IMMEDIATE RELEASE
October 26, 2026
Contact: minority_jecpress@jec.senate.gov
UPDATE: Trump’s Wealth from Oil & Gas Stocks Climbs to as Much as $81.6 Million Amid Iran War, Surging Costs for Americans
Report Comes as President Trump Says ‘I Don’t Give a Damn’ About People Suffering From High Prices at the Pump
WASHINGTON – The U.S. Congress Joint Economic Committee - Minority released a new analysis today which finds that so far this year, President Trump’s personal wealth from oil and gas stocks has grown by as much as $35.8 million. This brings his net holdings in the sector to as much as $81.6 million and nearly doubles the oil and gas wealth the President held at the end of 2025. Trump’s war in Iran has caused oil and gas prices to skyrocket, and the Committee also found that 94% of Trump’s 2026 oil and gas stock purchases occurred after the war began, with Trump buying as much as $17.5 million in oil and gas stocks after February 28.
The report comes as President Trump bragged this weekend about oil and gas profits due to his war with Iran and said “I don’t give a damn” that that people are suffering at the pump. The new report also includes national and state-by-state calculations that show that Americans have now spent an additional $101 billion on gas since the start of President Trump’s Iran War, which is an average of $856 in added costs per family.
“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,” said Senator Maggie Hassan (D-NH), Ranking Member of the Joint Economic Committee. “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. Unfortunately, this is nothing new from this administration and only reinforces that the President puts his own financial interests above the American people.”
Experts have observed that it is rare for presidents to hold and trade stocks in individual companies while in office, given that presidents' actions can impact the stock market significantly. Trump, on the other hand, has purchased oil and gas stocks in major companies that have profited directly off of Trump's decisions – including his war in Iran and his other favors to the industry.
This report is part of Senator Hassan’s ongoing effort as Ranking Member of the Joint Economic Committee to quantify the economic impact that President Trump’s actions have on American families. She will continue to shed light on how Trump has personally profited off the presidency while Americans have faced rising costs under his watch. Senator Hassan will also continue to push the Trump administration to reverse course on his tariffs and other harmful actions that have driven up costs in all 50 states.
Read the Committee’s full report with state-by-state data here.
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