Former deputy prime minister Barnaby Joyce spent the $150,000 he was paid for a tell-all interview about his affair with Vikki Campion on very lucrative shares, documents reveal.
Critics slammed Joyce for the 2018 interview aired on Channel 7’s Sunday Night, saying that he shouldn’t have profited from a scandal while in office.
Joyce and Ms Campion later said the money would be held in trust for their newborn son Sebastian, with neither of them having access.
Parliamentary disclosures have now revealed which stocks the money was invested and – looking at their yearly performance – little Sebastian has not done too badly for himself.
Joyce shocked the country in 2018 when he announced, as the sitting deputy PM, that and his wife Natalie Abberfield had separated following an affair with Ms Campion, who was a political staffer.
On April 16 the following year Ms Campion gave birth to a son, Sebastian, with the three living near Armidale in the New England area of New South Wales.
The pair welcomed a second son, Thomas, on June 1 2019.
The parliamentary documents reveal that the Sebastian Joyce Trust is spread across shares in a dozen Australian listed companies – with a few being some of the ASX’s standout winners.
The portfolio is heavily invested in payment company AfterPay which has rocketed to a more than 200 per cent increase in value in the last 12 months.
Other big gainers in the group include Ramelius Resources, up by more than 55 per cent, and 5G Network Limited, up by more than 68 per cent.
Australian drug manufacturer CSL and technology startup Appen were also winners with both seeing an increase in share price of more than 28 per cent.
Meanwhile, BHP, Macquarie Group, and Australian Agricultural Company were all steady and held their value in the last 12 months.
Of the 12 companies, only four lost value including mining company Lynas Corp which shrunk more than 12 per cent in share price.
Three stocks, however, took sizable hits with Birtus Health down 42 per cent, Sydney Airport down 36 per cent and NAB down more than 38 per cent.
Overall there were a lot more impressive performers than duds and, while it’s not revealed exactly how the $150,000 was split, it’s safe to say it has grown considerably.
The investment’s success likely has little to do with the former deputy PM’s stock picks, however, with the trust reportedly being independently administered.