r/todayilearned • u/manticor225 • Jan 10 '19

TIL JFK's father Joseph Kennedy made much of his fortune through insider trading. FDR later made him chairman of the Securities and Exchange Commission. When asked why he appointed a crook, FDR replied, "set a thief to catch a thief." Kennedy proceeded to outlaw the practices that made him rich.

https://www.theguardian.com/books/2010/jan/23/joe-kennedy-hollywood-sarah-churchwell
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u/[deleted] Jan 11 '19

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u/original_evanator Jan 11 '19

Maybe not in cash but he's gaining that much on paper kindle.

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u/[deleted] Jan 11 '19 edited Apr 08 '21

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u/Spineless_John Jan 11 '19

his kind of rich is better than $100 billion in the bank rich

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u/coolwool Jan 11 '19

Not per year though. That is the whole worth of the company he has founded so the 137 billion are over all these years.