Freedom Fuel Network's Ownership Scrutinized Amid Presidential Promotion
The Freedom Fuel Network, a chain of gas stations selling fuel at $3.47 per gallon, has been enthusiastically promoted by President Donald Trump and the White House. While promoted as a source of cheaper gas, the network's ownership structure has been described as difficult to untangle. Investment firm Blue Owl Capital reportedly owns approximately one-third of the Freedom Fuel properties. Additionally, records indicate links between 14 of the 25 network locations and brothers Shamikh and Syed Kazmi, who have a history of civil misconduct accusations. The White House has denied any personal connection for Trump or administrative funding for the venture, though it confirmed discussions with individuals involved in its establishment.
President Donald Trump and the White House have actively promoted the Freedom Fuel Network, a chain of star-spangled convenience stores offering gas at $3.47 per gallon, a price reportedly set in honor of the 47th president. The chain, which launched last month in the Philadelphia area, has an ownership structure described as complex to discern.
President Trump celebrated the network's gas prices on his Truth Social platform on July 1, highlighting a "VERY smart Retailer" in the Northeast. This promotion occurred just before the busy July 4th travel period, as consumers faced higher oil prices attributed to the war with Iran. The White House further supported the initiative with a post on X and a video showcasing patrons thanking Trump for the reduced prices at a station adorned with American flags.
Records indicate that a subsidiary of Blue Owl Capital, an investment firm, owns the first Freedom Fuel station in Dresher, Pennsylvania. The firm reportedly owns about a third of the Freedom Fuel properties. Blue Owl stated it leases its stores to independent contractors and is not involved in their operations or business decisions. President Trump previously held Blue Owl stock, valued up to $25 million, though his most recent financial disclosure shows he has sold almost all of that stake.
The White House has denied any personal connection for President Trump to the venture and stated that the administration is not involved with the company or providing funding. It also asserted that no other entity or person is subsidizing the lower gasoline costs. However, the White House acknowledged having discussions with individuals who were setting up the network of gas stations.
The network's operation involves a collection of businessmen, including an NFL kicking coach, a GOP fundraiser, and a New Jersey entrepreneur. Fourteen of the 25 stations in the network are controlled by companies linked to brothers Shamikh and Syed Kazmi. These brothers have been associated with civil misconduct accusations, including fraud, and faced a court order to pay civil damages for unlawfully taking over 200,000 gallons of fuel. Shamikh Kazmi is reportedly leasing eight of these stations from Blue Owl.
Public records show a series of judgments against the Kazmis, who have been repeatedly sued by companies with whom they conducted business. A White House official, speaking anonymously, indicated that no one from the White House involved in conversations with the Freedom Fuel Network had specifically spoken or worked with Syed Kazmi, suggesting discussions occurred with Shamikh Kazmi.
According to Fortune, the businessmen involved declined to comment or could not be reached, and how the stations initially captured President Trump's attention remains unknown.
