New Report: Trump’s Wealth From Oil & Gas Stocks Climbs To As Much As $81.6 Million Amid Iran War, Surging Costs For Americans

Americans Have Now Spent An Additional $101 Billion On Gas Since The Start Of Trump’s Iran War, Averaging $856 In Added Costs Per Family

This week, the Joint Economic Committee (JEC) – Minority released a new analysis finding 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 since February 28.

In response to the new report that highlights President Trump’s egregiously misplaced priorities, U.S. Senator Kirsten Gillibrand issued the following statement:

“President Trump chose to start his Iran war knowing it was going to raise gas prices on Americans already struggling to get by,” said Senator Gillibrand. “As Americans pay more than $100 billion more at the pump, Trump is making a fortune turning the White House into his personal trading desk and saying he doesn’t ‘give a damn.’ The president must end this wasteful war and instead focus on bringing down costs for the people he was elected to serve.”

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 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.

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.

Senator Gillibrand has been fighting back against President Trump’s moves to profit from his office at working families’ expense. Last year, she introduced the No Stock Act, which would ban the president, the vice president, members of Congress, Supreme Court justices, and their immediate families from holding or trading stocks. In February, she introduced the Financial Disclosure Modernization Act, which would increase transparency around the finances of President Trump and other senior officials by expanding disclosure reporting categories to include a new upper tier of “greater than $1 billion.” She has also been pushing to bring down the costs of the Iran war, including by urging the Trump administration to raise the federal standard mileage rate to give New Yorkers relief from sky-high gas prices.

Read the Committee’s full report with state-by-state data here.

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