27 October 2026
The value of President Trump's personal oil and gas stock holdings has nearly doubled since his war with Iran began, according to a report by Democrats on the Congressional Joint Economic Committee. CBS News' Olivia Rinaldi has more.
A new report from Democratic lawmakers estimates President Donald Trump’s oil and gas holdings are worth between $22.5 million and $81.6 million, prompting criticism from California Gov. Gavin Newsom. The report said Trump’s energy holdings increased by an average of 43% since the end of last year. Trump reportedly bought between $4.7 million and $17.5 million of oil and gas stocks from March through August, while selling between $2 million and $5.4 million during the same period. His largest reported positions include up to $23.1 million in Chevron ($CVX) and as much as $18.4 million in ExxonMobil ($XOM). Newsom cited the report in criticizing Trump, saying the president’s oil investments have gained significantly while Americans face elevated fuel costs. Newsom’s press office went further, accusing Trump of being aligned with “Big Oil” and arguing that consumers are paying more while his energy holdings appreciate. Those comments reflect Newsom’s political criticism of the president. The report follows earlier criticism from Sen. Elizabeth Warren, who had also raised concerns about Trump’s exposure to oil companies during the Iran conflict. Trump has separately highlighted strong profits across the oil industry, while critics have pointed to higher gasoline and diesel prices. AAA figures cited in the report put the national average for gasoline at about $4.29 per gallon and diesel at roughly $6.35. Both Exxon and Chevron shares have risen more than 20% since the Iran conflict began, increasing the value of energy-related holdings for investors exposed to the sector.
— Benzinga (@Benzinga) October 27, 2026
