President Trump
President Trump's oil investments have increased in value, a report states.

President Donald Trump's independently managed investment portfolio includes millions of dollars in oil and gas company stock, whose value is rising thanks to higher oil prices driven largely by the Iran war.

A report written by Democrats on the Joint Economic Committee states that Trump made as much as $15.5 million last year on the investments.

"These companies' profits and stock values are rising because Trump's reckless war in Iran has caused gas and oil prices to skyrocket," reads a passage of the report. "The Committee finds that President Trump owned as much as $45.6 million in oil and gas company stocks in 2025, a portfolio that is now worth as much as $61.1 million given the surge in oil and gas stocks driven by Trump's war in Iran."

The White House has said that President Trump has removed himself from the management of his businesses and investments, and independent managers handle Trump's business interests without his input.

"President Trump's stock and bond portfolio is independently managed by third-party financial institutions," White House spokesman Davis Ingle told CBS News.

According to Ingle the president's holdings "are maintained in discretionary accounts and invested through computer-based model portfolios that automatically replicate recognized indexes, such as the Schwab 1000." He added that no one in Trump's family "has any ability to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold."

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The Joint Economic Committee report focused on oil and gas investments specifically.

"During the campaign, President Trump promised to deliver for Big Oil if they gave him $1 billion in donations. Throughout his current term, Trump and Republicans have consistently enacted policies that benefit Big Oil, and these companies have seen massive profits since Trump unilaterally launched his war against Iran," the report states.

Exxon Mobil saw its second-quarter profits jump 105 percent to $14.53 billion. Total revenue for the company rose 42 percent to $116.02 billion. Meanwhile, Houston-based Chevron, saw its profits skyrocket by almost 400 percent to just over $12 billion.