Rheinmetall

Rheinmetall is Germany's largest arms manufacturer, run by CEO Armin Papperger since 2013, and one of the biggest winners of Europe's rearmament: its backlog reached €63.8B, up from €49.9B a year earlier. In Jan 2024 German media reported that Berlin had provisionally approved an urgent Israeli request, made in Nov 2023, for 10,000 rounds of Rheinmetall tank ammunition. The delivery was reportedly still held up in Sept 2024, and AFSC rates the evidence of arrival inconclusive. Rheinmetall has not responded publicly to these reports. Germany has been one of Israel's main arms suppliers throughout the genocide in Gaza, which the UN Commission of Inquiry concluded in Sept 2025 was a genocide. Rheinmetall's shareholders include the same asset managers found across this network: BlackRock (about 7.15%, Feb 2026), Vanguard (3.84%), Fidelity's FMR (3.05%) and DWS (1.15%). The charge here is reported, not proven; the profits are not in dispute.