Trump's Iran War Investments: A Profitable Critique
President Donald Trump has been critical of American oil companies profiting from soaring fuel costs since the launch of the Iran war in February. However, analysis reveals that he has invested in Chevron and ExxonMobil, two companies he is now criticizing.
The oil supermajors reported a sharp increase in earnings for the second quarter, amid supply disruptions that have pushed up domestic fuel prices. Trump said they were earning 'too much money' on the back of higher gas prices and struggling consumers.
According to his financial disclosures, Trump held between $2.595 million and $11.35 million in Chevron stock and $3.18 million to $12.45 million in Exxon by the end of 2025. Both companies' shares have rallied this year, with Chevron up 27% and Exxon 29% since February.
Assuming Trump retained his holdings, he may have made $3.1 million on his Chevron shares since the start of 2026 and nearly $700,000 since the beginning of the conflict for Exxon. Climate Power, a climate-focused advocacy group, said these purchases may have further swelled the president's oil-related earnings.
The White House referred Newsweek back to Trump's original criticisms of the two companies, saying his assets were managed by third-party institutions and rejecting any suggestion of a conflict of interest.