Trump on the Iran war: “We’re making a freaking fortune”

Description

Trump says the Iran war is making the country “a freaking fortune.” American families are the ones paying for it.

At a rally in Georgia on October 24, he said his own staff had asked him not to mention the money “because people are paying a little higher.” He talked about it anyway.

Brown University estimates the average household has already spent about $643 extra on gas since the war began. Twenty-three American service members have died, and 866 have been injured.

Somebody is making a fortune. From April through September, American oil and gas companies made more than $130 billion in profit, nearly three times what they made in the same months last year. From July through September, Exxon more than doubled its profit from a year earlier, and Chevron almost tripled its profit.

Trump’s own financial disclosure shows that going into the war, he held millions of dollars in Exxon and Chevron stock, and millions more in Lockheed Martin and RTX, the companies that build the missiles. The White House says independent managers run his investments.

His sons, Eric Trump and Donald Trump Jr., are investors in Powerus, a drone company that has been pitching interceptors to Gulf states under Iranian attack. Powerus says there’s no conflict of interest. Their father is the one who decides when this war ends.

The people paying for this war aren’t the people making money from it.

Transcript

“We’re making a freaking fortune.”

That’s President Trump, on the war with Iran, at a rally in Georgia on Oct. 24. He said his own staff had asked him not to mention the money “because people are paying a little higher.” He said he didn’t give a damn and talked about the money anyway.

People are not paying a little more. Gas was $2.98 a gallon when the war started. On Nov. 5 it was $4.10. Brown University figures the average household has already spent about $643 extra, just on gas.

Twenty-three American service members have died, and 866 have been injured.

Trump is right that somebody is making a fortune. From April through September, American oil and gas companies made more than $130 billion in profit, nearly three times what they made in the same months last year. From July through September, Exxon more than doubled its profit from a year earlier. Chevron almost tripled its profit.

Trump’s own financial disclosure shows that going into this war, he held millions of dollars in Exxon and Chevron stock, and millions more in Lockheed Martin and RTX, the companies that build the missiles.

His sons Eric and Don Jr. are investors in a drone company called Powerus, which has been pitching interceptors to Gulf states under Iranian attack. Powerus says there’s no conflict of interest. Their father is the one who decides when this war ends.

The people paying for this war aren’t the people making money from it.

Sources and credits

The Associated Press via Fortune, Trump says the US is “making a freaking fortune” as gas and diesel prices climb, Oct. 26, 2026. fortune.com
Roll Call Factba.se, transcript of President Trump’s rally in Perry, Georgia, Oct. 24, 2026. rollcall.com
41NBC, live updates from President Trump’s rally in Perry, Georgia, Oct. 24, 2026. 41nbc.com
AAA, national average price of regular gasoline, read Nov. 5, 2026. gasprices.aaa.com
Brown University Climate Solutions Lab, “Iran War Energy Cost Tracker,” read Nov. 5, 2026 (AAA price on Feb. 28; extra gasoline spending per household). iranwarcost.watson.brown.edu
Brown University Climate Solutions Lab, method brief on the war’s cost to US energy consumers, Sept. 8, 2026. climate.watson.brown.edu
Defense Casualty Analysis System, US Department of War, casualties of Operation Epic Fury and of Overseas Operations, as of Nov. 5, 2026. Operation Epic Fury, Overseas Operations
Air Force Times, non-hostile deaths of two US airmen raise the overseas toll to 23, Nov. 4, 2026. airforcetimes.com
The New York Times, “U.S. Oil Industry Earned Over $130 Billion in Profit During Iran War,” Oct. 30, 2026. nytimes.com (syndicated text: gvwire.com)
ExxonMobil, third-quarter 2026 results, Form 8-K, Exhibit 99.1, Oct. 30, 2026. sec.gov (third quarter 2025, for comparison: investor.exxonmobil.com)
Chevron, third-quarter 2026 results, Form 8-K, Exhibit 99.1, Oct. 30, 2026. sec.gov
US Office of Government Ethics, President Trump’s annual financial disclosure report (OGE Form 278e) for 2025, received June 29, 2026. oge.gov (copy: citizensforethics.org)
CNBC, Trump’s oil and gas holdings during the Iran war, with the White House statement that independent managers make his investment decisions, Sept. 9, 2026. cnbc.com
Aureus Greenway Holdings (now Powerus), merger announcement naming Eric Trump and Donald Trump Jr. as investors, March 9, 2026, filed as Form 8-K, Exhibit 99.1. sec.gov
The Associated Press via KSAT, company backed by Trump’s sons looks to sell drone interceptors to Gulf states being attacked by Iran, April 2, 2026. ksat.com
The Associated Press via KSAT, new drone maker partly owned by Trump’s sons hopes to win Pentagon contracts, March 11, 2026. ksat.com

Picture credits

President Trump at Joint Base Andrews, Oct. 25, 2026: frame from a White House video (public domain). Wikimedia Commons
President Trump at Mar-a-Lago, Feb. 28 and March 1, 2026: White House photos by Daniel Torok (public domain).
Gas pump: “Gas Nozzle” by Mike Mozart, CC BY 2.0, via Wikimedia Commons, cropped and darkened.
Sabine Pass LNG terminal, Louisiana: “Cheniere Sabine Pass LNG Terminal” by Quintin Soloviev, CC BY 4.0, via Wikimedia Commons, cropped and darkened.
Official portraits of the fallen: U.S. Army, U.S. Army Reserve, New York National Guard and U.S. Navy, via DVIDS and army.mil (public domain).
Portraits of Maj. John Klinner, Tech. Sgt. Ashley Pruitt and Capt. Ariana Savino: courtesy photos released by the U.S. Air Force via DVIDS.
Portraits of Capt. Seth Koval, Capt. Curtis Angst and Tech. Sgt. Tyler Simmons: Ohio National Guard.
Portrait of Staff Sgt. Angel Rampersad: U.S. Army photo by Capt. Lydia LaRue, 10th Army Air and Missile Defense Command, via DVIDS (public domain). dvidshub.net
President Trump’s financial disclosure: US Office of Government Ethics, OGE Form 278e (public domain).
Eric Trump: “Consensus 2025 – Eric Trump 10” by Xuthoria, CC BY-SA 4.0, via Wikimedia Commons, cropped.
Donald Trump Jr.: “Donald Trump, Jr. (55021618832) (cropped 2)” by Gage Skidmore, CC BY-SA 4.0, via Wikimedia Commons, cropped.
President Trump’s address announcing the war, Feb. 28, 2026: The White House (public domain).

The appearance of U.S. Department of War (DoW) visual information does not imply or constitute DoW endorsement.