Hello everyone, are defense stocks a no-go for you, or are you invested?
Left-wing leader Jan van Aken finds it "disgusting" that people make millions in profits from the suffering of other people and is calling for an excess profits tax on arms companies. Why his team still holds two shares.
Left Party leader Jan van Aken is outraged by the high price gains on shares in the arms company Rheinmetall, which his team acquired years ago. "Eight years ago, we bought two Rheinmetall shares, an arms company, you need the shares if you want to say a few clever things at a shareholders' meeting or make a bit of nonsense," said van Aken at the Left Party conference in Chemnitz.
And he continued: "I had a look yesterday and do you know that we have earned 3,200 euros in these few years with two piffle shares that cost just 180 euros? (...) I find it disgusting that people are making millions in profits from the war and suffering of other people. That's why I think we need an excess profits tax for arms companies with immediate effect. Nobody should be allowed to make money from the suffering of other people, never ever."
His team wants to continue holding shares
According to Van Aken himself, he does not own any Rheinmetall shares. He announced that his team's two shares would not be sold. "Because the next shareholders' meeting is sure to come, and maybe you'll hear from us then."
The armaments group's share price has risen sharply since 2022. The company has recorded significant sales growth due to high defense spending. According to preliminary calculations, turnover grew by around 46% to 2.3 billion euros in the first quarter of this year alone.
According to Rheinmetall, the order books are fuller than ever. The order backlog reached a new high of 55 billion euros, compared to 38.3 billion euros in the previous year.
