In the aftermath of this week’s horrific massacre at a Texas elementary school, the usual pattern continued as major gun-related stocks surged in price. For Ken Griffin, Richard Irvin’s biggest donor, that means big returns on his investments in Smith & Wesson, Vista Outdoor, and Sturm Ruger.
Just last week, newly-filed records showed that Citadel and Citadel Securities — of which Ken Griffin is founder and CEO — expanded their holdings in gun and ammunition manufacturers by 62% during the first quarter of 2022, totaling $139 million.
Citadel’s holdings in Smith & Wesson Brands Inc. and Sturm, Ruger and Co. Inc., two of the nation’s largest gun manufacturers, are valued at nearly $23 million combined, and the new filing showed a more than three-fold increase in holdings for ammunition manufacturer Vista Outdoor.
A report released earlier this year revealed that guns manufactured by Citadel-linked companies were responsible for one in four recovered firearms from Chicago homicides in the past five years.
Griffin is profiting off of one of the most violent and deadly massacres in American history and what does Richard Irvin have to say about it? Nothing.
When will Richard Irvin stand up to his megadonor and say enough is enough?
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