NEW: Exxon and Chevron Rake in Nearly $28 Billion in Profits as Gas Prices Are on Track for Highest Election Day Prices on Record 

Trump made as much as $21 million from his oil and gas holdings — with his largest holdings in Exxon and Chevron — as corruption becomes a key issue in the midterms 

Washington, DC – On the campaign trail, Trump bragged about how much money billion-dollar oil and gas companies are making off of Americans’ pain at the pump, and now, we know just how much they’re raking in. Today, Exxon and Chevron, two companies in which Trump has millions of dollars worth of stock in, announced profits of almost $28 billion in Q3, up 117% and 186% from last year. U.S. oil companies have now made more than $130 billion in profit since Trump’s war of choice in Iran, while Americans have spent $147 billion on extra fuel costs. 

The profits come as polling shows two out of three Americans believe Trump is using the presidency to enrich himself, a marked increase since this time last year. Trump himself has made as much as $21 million from oil and gas investments, including an estimated $7.6 million from Chevron and ExxonMobil. Trump’s corruption at the expense of the American people doesn’t stop at his stock portfolio. At a closed-door meeting at Mar-A-Lago in 2024, Trump asked his ultra-wealthy Big Oil donors to donate a billion dollars to his campaign, then highlighted all the ways a second term would help their bottom line. Now, they’re cashing in on that promise while the American people pay the price. 

Climate Power Communications Director Alex Glass issued the following statement: “With Election Day just days away, Trump is trying to gaslight Americans by claiming they’re making ‘a fortune’ off of record-breaking prices at the pump, which is news to anyone who has filled up their tank in the last eight months. Now, we know who he meant by ‘we,’ and it wasn’t the American people. Trump and his ultra-wealthy Big Oil buddies are popping champagne as they pocket billions off of Americans’ pain. But next week, when voters hold Republicans accountable for putting their donors’ bottom lines ahead of working families, they won’t be celebrating.”