Trump's War Profiteering: $61 Million Boost in Energy Holdings Amid US-Iran Conflict
US President Donald Trump's investment accounts continued to actively buy and sell oil and natural gas stocks despite being involved in directing the US-Iran war. The transactions occurred between April and August 2026, with his accounts making thousands of trades in major energy corporations such as ExxonMobil, Chevron, ConocoPhillips, Valero Energy, and Occidental Petroleum.
The filings show that Trump's accounts sold $500,000 to $1 million worth of ExxonMobil stock on April 7, just hours before he announced a two-week ceasefire with Iran. Following the announcement, ExxonMobil's stock opened down 6.5% the next morning. His accounts also made smaller buys and sales of Exxon stock in June.
Alongside fossil fuels, Trump's accounts traded shares in prominent US defense firms like Lockheed Martin, Northrop Grumman, General Dynamics, and RTX while geopolitical negotiations were underway.
The value of his energy holdings surged due to skyrocketing oil prices and the closure of the Strait of Hormuz. At the end of 2025, Trump held between $12.5 million and $45.6 million in oil and gas stocks. By mid-August 2026, those same holdings grew to a maximum value of $61.1 million, an average appreciation of roughly 39%.
Trump's actions have sparked significant pushback from ethics watchdogs and political opponents who argue that the president faces a severe conflict of interest by financially benefiting from a war he is directing.