Key facts
- President Donald Trump's investment accounts sold between $500,000 and $1 million of ExxonMobil stock on April 7.
- The sale occurred on the same day Trump announced a ceasefire in the Iran war.
- Exxon shares fell 6.5% the following morning after the announcement.
- Trump's accounts engaged in numerous trades involving oil and gas companies, including Chevron and ConocoPhillips, during the first half of 2026.
- ExxonMobil and Chevron reported a combined $26.5 billion in profit for the second quarter.
- The White House stated that Trump's investment portfolio is managed independently and he cannot influence trades.
President Donald Trump's investment accounts divested between $500,000 and $1 million of ExxonMobil stock on April 7, the same day he announced a ceasefire in the Iran war. This transaction occurred hours before Exxon shares opened 6.5% lower the following morning, according to financial disclosures reviewed by CBS News.
The sale was one of many transactions involving Exxon, Chevron, ConocoPhillips, and other oil and gas companies during the first half of 2026. These trades continued throughout a period where the Iran war and disruptions to oil flows through the Strait of Hormuz drove crude prices and refining margins sharply higher, leading to strong earnings for U.S. oil majors.
ExxonMobil reported $14.5 billion in net income for the second quarter, more than double its year-earlier profit, while Chevron reported record net income of $12.2 billion. Despite these profits, Trump later accused the companies of making "too much money" and demanded they cut fuel prices.
CBS News reported that Trump's accounts executed roughly 3,600 stock and securities trades worth between $212 million and $695 million in the first quarter alone. Democrats on the Joint Economic Committee estimate that his oil and gas holdings increased in value substantially between the start of the year and mid-August.
The White House stated that Trump does not direct these trades, with his portfolio managed independently by third-party financial institutions using computer-based model portfolios. Trump has not placed his assets in a blind trust, and federal law does not prohibit presidents from owning or trading individual stocks.