While with his infamous “pen and ... phone” President Barack Obama has acted to limit the availability of guns and ammunition; with his investments he profits from the purchase of both these objects which have “taken a heartbreaking toll on too many communities across the country.”
A special report published by Reuters on February 5 reveals that President Obama owns stock in a couple of manufacturers of guns and ammunition.
From Reuters:
From his days in the Illinois General Assembly, President Obama has up to $100,000 invested in a nearly $16 billion state pension plan, which has about $5 million invested directly in several gun and ammo makers. The retirement plan, which covers state employees, judges and the general assembly, also holds shares in a small-cap mutual fund with a $9.5 million stake in Smith & Wesson.
While this is admittedly a minuscule amount of money for one a man of the president’s net worth ($7 million as of 2014), the inconsistency between his advocacy of tighter gun controls and his increase in personal prosperity from the increased demand for weapons and ammunition is noteworthy.
A special report published by Reuters on February 5 reveals that President Obama owns stock in a couple of manufacturers of guns and ammunition.
From Reuters:
From his days in the Illinois General Assembly, President Obama has up to $100,000 invested in a nearly $16 billion state pension plan, which has about $5 million invested directly in several gun and ammo makers. The retirement plan, which covers state employees, judges and the general assembly, also holds shares in a small-cap mutual fund with a $9.5 million stake in Smith & Wesson.
While this is admittedly a minuscule amount of money for one a man of the president’s net worth ($7 million as of 2014), the inconsistency between his advocacy of tighter gun controls and his increase in personal prosperity from the increased demand for weapons and ammunition is noteworthy.
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