How much do members of Congress owning defense stocks?
According to a Sludge review of financial disclosures, 51 members of Congress and their spouses own between $2.3 and $5.8 million worth of stocks in companies that are among the top 30 defense contractors in the world.
Which stocks does Congress own the most?
Apple, the top stock and one of the hottest investments in recent years, was held by 72 members, or more than 13% of Congress. Microsoft, the second-most-popular stock, was held by 64 members, followed by Disney and Alphabet, tied with 45 owners. Close behind was Amazon, owned by 44 members.
How much Boeing stock do members of Congress own?
Fifty-one members of Congress and their spouses own between $2.3 and $5.8 million worth of stock in Boeing and other major defense contractors. Sludge produces investigative journalism on lobbying and money in politics.
Which federal lawmakers are trading on defense contractors?
Other federal lawmakers have traded stock in the defense contractors in recent weeks. Republican Rep. Diana Harshbarger of Tennessee and her husband made three separate Raytheon trades worth up to $15,000 and Democratic Rep. Lois Frankel of Florida sold up to $15,000 in Lockheed Martin stock but retained shares in the company.
Who owns the defense industry in the US?
List of companiesRankCountryCompany name1United StatesLockheed Martin2United StatesRaytheon Technologies3United StatesBoeing4United StatesNorthrop Grumman46 more rows
Who profited most from Iraq war?
He was really excited about doing business in the Middle East." One of the top profiteers from the Iraq War was oil field services corporation, Halliburton. Halliburton gained $39.5 billion in "federal contracts related to the Iraq war".
Who is the largest defense contractor?
Lockheed Martin CorporationLockheed Martin Corporation, based in Bethesda, Maryland, is the world's largest defense contractor.
Who profits from US wars?
Lockheed Martin Corp. retained its place at the top of the list of the companies profiting the most from war — a position it has occupied every year since 2009. The American military contractor sold $58.2 billion-worth of arms and military services in 2020, accounting for almost 90% of the company's total sales.
Who benefits the most from war?
Corporations large and small have been, by far, the largest beneficiaries of the post-9/11 surge in military spending. Since the start of the war in Afghanistan, Pentagon spending has totaled over $14 trillion, one-third to one-half of which went to defense contractors.
What companies do well during war?
Company MatchesCompany (Ticker)Mar 19 priceWhat they're supplyingLockheed Martin (LMT)$48.30Nighthawk stealth fightersNorthrop Grumman (NOC)$87.45B-2 Spirit stealth bomber; Global Hawk spy plane, Tomcat fighter jetsRaytheon (RTN)$28.35Tomahawk cruise missilesUnited Technologies (UTX)$61.80Black Hawk helicopter13 more rows•Apr 13, 2022
What is the best defense stock?
Defense Stocks with the Most MomentumNorthrop Grumman Corp. (NOC)472.4529.4General Dynamics Corp. (GD)231.3622.8Russell 1000N/A-3.5Invesco Aerospace & Defense ETF (PPA)N/A-4.42 more rows
Who supplies guns to US military?
In 2020, Lockheed Martin was the world's largest arms-producing and military services company, with arms sales amounting to about 58.21 billion U.S. dollars....CharacteristicArms salesTotal salesLockheed Martin Corp. (US)58,21065,398Raytheon (US)36,78056,587Boeing (US)32,13058,15810 more rows•Jun 13, 2022
Who makes bombs for US military?
Raytheon Raytheon is the world's top manufacturer of guided missiles and a leader in missile defense systems. The defense giant saw a 2 percent increase in 2017 sales to $23.9 billion compared to sales in 2016.
Who makes missiles in the US?
Lockheed Martin Missiles and Fire Control (MFC) is one of four Lockheed Martin business areas. MFC is a recognized designer, developer and manufacturer of precision engagement aerospace and defense systems for the U.S. and allied militaries.
What companies make the most money during war?
1. Lockheed Martin Corp. Lockheed Martin is by far the largest defense contractor in the world. In 2017, the Bethesda, Maryland, company made $44.9 billion in arms and defense contracts, nearly twice the amount of arms sales at Boeing, the second largest defense contractor.
Is war good for the economy?
Heightened military spending during conflict does create employment, additional economic activity and contributes to the development of new technologies which can then filter through into other industries. These are some of the often discussed positive benefits of heightened government spending on military outlays.
What companies make the most money during war?
1. Lockheed Martin Corp. Lockheed Martin is by far the largest defense contractor in the world. In 2017, the Bethesda, Maryland, company made $44.9 billion in arms and defense contracts, nearly twice the amount of arms sales at Boeing, the second largest defense contractor.
Do countries benefit from war?
Increased military spending can generate some positive economic benefits through the creation of employment and additional economic growth as well as contributing to technological developments. This can provide a multiplier effect which then flows on to other industries.
Does War improve economy?
The basic story with spending on a war, or any other military spending, is that it provides a boost to demand in the economy. In this sense, it is like anything else that would provide a boost in demand, such as increased spending on health care, child care or housing.
Who makes missiles in the US?
Lockheed Martin Missiles and Fire Control (MFC) is one of four Lockheed Martin business areas. MFC is a recognized designer, developer and manufacturer of precision engagement aerospace and defense systems for the U.S. and allied militaries.
House investments
Atop the list is the 16-term Rep. Jim Cooper, a Democrat of Tennessee who chairs the House panel's Strategic Forces Subcommittee.
Senate investments
Across the Capitol, Republican Sen. Tommy Tuberville, a freshman of Alabama, reported owning nearly $200,000 worth of stock combined in Honeywell, Lockheed Martin, General Electric, Raytheon, and General Dynamics.
Dialing up defense
Whether they have leadership positions on the committees or not, all 15 lawmakers who have made investments in the defense industry all sit on the House and Senate panels responsible for writing the annual defense-authorization bill that bankrolls the military personnel and subcontractors in their home districts.
Conflicts between stock portfolios and constituents
Government watchdogs criticized the practice of US lawmakers trading in defense-contractor stocks, especially members of the committees with oversight of policy, budgets, and spending.
Lawmakers Benefit From Booming Defense Stocks
Here are the members of Congress who own stock in defense contractors like Lockheed Martin and Raytheon.
U.S. Senators Invested in Defense Company Stocks
Sludge analysis of financial disclosures as of Aug. 22, 2021. Stocks are held by the senators, their spouses, or jointly.
U.S. House Members Invested in Defense Company Stocks
Sludge review of financial disclosures as of Aug. 22, 2021. Stocks are owned by the House members, their spouses, or jointly.
Congress' Top Defense Stock Investments
Sludge review of range of value of members of Congress' combined holdings of stock in top defense contractors as of Aug. 2021. (In dollars.)
The 51 Members of Congress Who Profit From War
According to a review of financial disclosures, 51 members of Congress and their spouses own between $2.3 and $5.8 million worth of stocks in companies that are among the top 30 defense contractors in the world
Serious Conflicts of Interest
Members of Congress’ investments in defense contractors may present more significant potential conflicts of interest than investments in other industries because the contractors rely heavily on defense spending that is approved by Congress for their revenue.
Who is the richest member of Congress?
Rep. Greg Gianforte (R-Mont.), a former tech executive, has over $4.8 million in fossil fuel stocks. With an estimated net worth of $136 million, he is the richest member of Congress.
Who is the Green New Deal sponsor?
Some members of Congress, including Green New Deal resolution sponsors Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Ed Markey (D-Mass.), are gravely concerned about the mounting threat, but overall, Congress has not met the crisis with the urgency that scientists say is necessary to avoid global tragedy. Emblematic of federal lawmakers’ lack of ...
Who owns ExxonMobil?
Fellow Texas Republican Rep. John Carter owns between $1.1 million and $5.3 million worth of stock in ExxonMobil, which is headquartered a few hours north of Carter’s 31st Congressional District. Carter is by far the biggest congressional investor in ExxonMobil.
