Gunmakers that have been used in some of the most deadly mass shootings in America made over one billion in profit from selling military-style assault rifles.
The House Oversight and Reform Committee made an investigation that found that the industry reaped profits in part through the marketing and sales that were aimed at enticing civilians into purchasing military-style weapons. These were especially targeted at younger men with the opportunity to purchase expensive firearms like the ones used in this situation.
The guns in question are military-style weapons. They have targeted younger men with the opportunity to purchase expansive firearms on credit. They have also subtly referenced extremist groups, including invoking imagery identified with these groups.
The results were published before there was a hearing of the oversights committee on the marketing practices and profits of the top five gun manufacturers.
The chairwoman of the committee, Carolyn Maloney, said the companies market the weapons to children, “preying on young men’s insecurities and even appealing to violent white supremacists.”
Within the hearing, multiple people were heard. This included the CEO of two massive gun manufacturers, Sturm, Ruger & Co, and of Daniel Defense.
A rifle that was used in the devastating elementary school shooting in Texas was made by Daniel Defense, and used to kill 21 children and teachers.
But despite the rise in deadly mass shootings, even within elementary schools, rifle sales have contained to increase in America.
Smith & Wesson, the manufacturer of the firearms used at the massacres in Highland Park, Parkland, and San Bernardino, have made at least $695 million in revenue from AR-1-style rifle sales alone in the past decade. Between 2019 and 2021, its revenues more than doubled from all long guns, from $108 million to $253 million.
Another company, Daniel Defense tripled its revenues of its AR-15-style — the gas used in a lot of mass shootings —from $40 million in 2019 to over $120 million in 2021. Since 2012 Daniel Defense has made $528 Million from AR-15 style rifles.
Ruger’s earnings followed a similar trend, tripling from $39 million in 2019 to over $103 million in 2021. Over the past decade, its AR-15-style firearm revenue totaled $514 million. Ruger’s weapons were used in the massacres at Sutherland Springs which left 25 dead, and Boulder, Colorado, resulting in the deaths of 10 people.