Trump's War on Iran Sends Oil Prices Soaring, Boosts His Personal Fortune
President Donald Trump's war on Iran has injected millions of dollars into his personal wealth while saddling everyday Americans with a $72 billion bill, according to a new report.
The report found that oil and gas companies' stocks have skyrocketed in value as companies report staggering earnings; ExxonMobil recently reported its profits doubling year-over-year, while Chevron's net income has increased nearly 400 percent due to the disruptions to the global oil market.
In total, oil and gas companies reported $125 billion in profits in the first half of 2026, with a corresponding jump in stock value across the fossil fuel industry.
As a result, Trump may have profited as much as $15.5 million, and netted at least $4.6 million, from his oil and gas holdings this year, Democrats on Congress's Joint Economic Committee found.