Aussie MP Cashes Out 'Terrible' Bet, Donates Profits to LGBTQ+ Advocacy
Shadow treasurer Tim Wilson claims he made a 'modest profit' from his controversial bet against the Australian share market, which he is donating to an LGBTQ+ advocacy group in Iran.
Tim Wilson, the Australian opposition's shadow treasurer, has claimed to have cashed out of his controversial bet against the country's share market, saying he made a modest profit from the investment. Wilson, who is a member of parliament, has announced that he will be donating the gains to an advocacy group for LGBTQ+ rights in Iran.
Last year, The Guardian first reported on Wilson's unusual investment, which was a leveraged product that profits when the benchmark ASX 200 index falls. This was seen as an unusual move for a politician, as the product's performance is directly linked to the overall economy's performance.
In a statement, Wilson said that he had decided to sell out of the investment, which he described as
