Last Thursday, Trump launched 59 Tomahawk missiles at a Syrian base, all so that he could look tough. That ineffective strike cost $70 million just for the missiles. And as it turns out, there’s going to be some people financially gaining from the attack: Wall Street, Raytheon, and Donald Trump.
As Market Watch reported:
Each Tomahawk missile, made by Raytheon Co. RTN, +1.45% costs between $1 million and $1.4 million.
The missiles used on Thursday likely cost the U.S. military around $1 million, but the latest versions of the missile that would replace those are probably more costly, said Loren Thompson, a consultant and chief operating officer of nonprofit Lexington Institute. A final cost would also depend on the size of the potential replacement order from the U.S. military, he said.
Stocks in Raytheon went up on Friday, moderately. Big Business had a good time on Friday beating their new cash cow. Raytheon shareholders are going to see some gains for sure—and one of those stockholders? Donald Trump. Business Insider reported in 2015 that Trump bought stock in the company, and there is no sign that he sold it. Now the question is if Trump’s sons bought stock in Raytheon before the attack.
This is not the first time someone in the White House profited off of a war they helped cause—Vice President Dick Cheney used Haliburton to make money off of George W. Bush’s Iraq War. However, this might be the first time we’ve seen the President himself profit from his own war.