A report released Monday by Democrats on the US Congressional Joint Economic Committee estimates that President Donald Trump has made millions of dollars from his own illegal war with Iran.
According to the report, Trump’s wealth has increased by as much as $15.5 million since January thanks to his investments in oil and gas stocks, which have surged since the president unlawfully attacked Iran without congressional approval earlier this year.
In examining the fossil fuels stocks owned by the president—including shares in Exxon Mobil, Chevron, and Occidental Petroleum—the report finds that their value has increased by an average of 39% since the start of the year.
JEC’s analysis also notes that Trump bought an additional $3.6 million in oil and gas stocks in the first quarter of 2026, allowing him to further cash in on the war he started.
While the war has driven up the values of fossil fuel companies, it has also hit US consumers directly in their wallets by raising the price of oil, diesel fuel, and gasoline.
In total, the report estimates that “Americans have now spent an additional $71.5 billion on gas since the start of Trump’s Iran War, an average of $604 in added costs per family.”
Sen. Maggie Hassan (D-NH), ranking member of the JEC, contrasted the president getting $15 million richer from his own war with Americans struggling to make ends meet.
“President Trump continues to get richer from an illegal war that he started and refuses to resolve, while Americans pay the price for his actions,” Hassan said. “On the campaign trail, Trump promised giveaways for Big Oil and relief for working families, but he can’t deliver both. Since launching his war with Iran, Trump has made clear that he puts his own financial interests—and those of his biggest bankrollers—ahead of Americans who are burdened with higher costs for gas and everyday essentials under this administration.”
During the 2024 presidential election, Trump repeatedly claimed that he would bring down costs for US consumers starting on the very first day of his presidency.
Prices have only continued to rise during his term, however, and the president has since dismissed concerns about affordability as a “hoax” concocted by the Democratic Party.
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