A new analysis by the Joint Economic Committee minority staff, released Oct. 27, 2026, found that President Donald Trump’s personal wealth tied to oil and gas stocks grew by as much as $35.8 million this year, bringing his total holdings in the sector to as much as $81.6 million.
The committee said the increase nearly doubled Trump’s oil and gas holdings from the end of 2025 and that 94% of his 2026 purchases in the sector occurred after the start of the war with Iran. The analysis estimated that Trump bought as much as $17.5 million in oil and gas stocks after Feb. 28, 2026.
The report also estimated that Americans have paid an additional $101 billion at the pump since the start of the Iran war, or an average of $856 in added costs per family.
Sen. Kirsten Gillibrand, D-N.Y., who provided the analysis, said the findings showed the president had profited while Americans faced higher fuel prices.
“President Trump chose to start his Iran war knowing it was going to raise gas prices on Americans already struggling to get by,” Gillibrand said. “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 Gillibrand release cited reporting that Trump recently discussed oil and gas profits tied to the conflict and said, “I don’t give a damn” about people suffering at the pump.
The committee’s tables break down ranges of reported 2025 stock holdings for companies including Exxon Mobil, Occidental Petroleum and ConocoPhillips. They also estimate expanded 2026 ranges reflecting net transactions and market appreciation. The analysis put Trump’s total oil and gas holdings in a 2026 estimated range of about $22.5 million to $81.6 million.
Gillibrand has proposed legislation aimed at reducing conflicts of interest and increasing financial transparency. The No Stock Act would bar the president, vice president, members of Congress, Supreme Court justices and their immediate families from holding or trading stocks. The Financial Disclosure Modernization Act would expand disclosure categories for senior officials.
The Joint Economic Committee minority staff’s full report and state-by-state data are posted online by the committee.
