gg2
Iran war benefits Trump family
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
Trump's oil and gas stocks rose up to $15.5 million amid Iran war. His family and donors profit from higher prices while Americans pay more.
Background
The Iran war, which began six months ago, has caused oil and gas prices to spike, benefiting companies in which President Trump and his family have investments. A report from the Joint Economic Committee minority staff found Trump's wealth increased by up to $15.5 million through his oil and gas stock holdings. This has drawn criticism as Americans face higher fuel costs.
How it unfolded
- Aug 24, 2026Joint Economic Committee minority report released, showing Trump's oil and gas stock gains and $71.5 billion extra spent by Americans on gasoline.
- Aug 27, 2026CBS News reports Trump's brokers continued trading oil and gas stocks during the war, with CREW president criticizing the conflict of interest.
- Aug 29, 2026US diplomats and family members begin returning to Middle East embassies as the war hits six-month mark, with policy focused on economic warfare.
Who’s saying what
- Critics
- Sen. Maggie Hassan said Trump 'continues to get richer from an illegal war' while Americans pay the price.
- Watchdog
- Donald Sherman of CREW said the president has a duty to avoid conflicts of interest between his finances and the American people.
- Administration
- The administration focuses on economic warfare and legal measures like prize law to capture Iranian oil tankers, without commenting on personal profits.
Still unverified
The exact extent of Trump's personal involvement in stock trades is unclear; reports rely on financial disclosures and OGE data.