Trump's Oil and Gas Holdings Grow to $81.6 Million as Exxon and Chevron Post Blowout Profits

ExxonMobil and Chevron reported sharply higher third-quarter profits Friday, Oct. 30 -- $15.4 billion and $10.4 billion -- as global oil prices rose amid the U.S.-Iran war, pushing the national average gas price to $4.12 a gallon, the highest third-quarter average on record, per AAA. Citing Trump's disclosures, Democrats on Congress' Joint Economic Committee estimated his oil-and-gas holdings grew by as much as $35.8 million in the first half of 2026, to as much as $81.6 million, with 94% of his 2026 purchases made after the war began.

Trump told a Georgia rally the prior weekend the U.S. was "making a freaking fortune" from high oil prices. The overlap between his praise for high prices and his own holdings' growth raises conflict-of-interest questions, even as households have paid an estimated $1,184 more on average in fuel costs since the war began, per Moody's Analytics.

The White House said Trump's investments are managed independently and that "there are no conflicts of interest," attributing the gains to stock-market performance under the administration.