Trump gained as much as $4.4 million on his own oil and gas holdings between February 27, 2026, the eve of the Iran war, and August 31, according to CNBC's analysis of his disclosure filings, confirmed by CBS News. He ordered the strikes as commander in chief. He kept trading through them as investor.
Trump held nine major energy stakes through the fighting — Chevron, ConocoPhillips, Exxon Mobil, Occidental, Valero and Williams among them — and they moved with the war, not against it. He ran more than 1,000 stock transactions in June alone, buying Exxon, Chevron and ConocoPhillips while the fighting continued. Democratic staff on the Senate Joint Economic Committee, in a report Trump's team disputes, put his 2026 gains as high as $15.5 million and his energy stake at $61.1 million by mid-August, up from $12.5 million at the start of the year. His own filings supply those numbers, not an independent audit.
