Bill O’Reilly joined Fox And Friends Wednesday morning to decry what he calls the “exploitation” of Trayvon Martin’s death by African American organizations and celebrities, saying the outraged reaction to the verdict was “all about the money.”

“It’s an industry,” O’Reilly said, “the grievance industry. There’s a lot of money in it, there’s a lot of power in it.”

“I think the NAACP should be watchdogs, they should be looking out for their crew,” he continued. “But they’re not going to basically say, ‘Okay, we’re going to hear another point of view,’ because it’s a business. They’re in business. That’s what they do. That’s how they get paid. Same thing with the liberal commentators and the mainstream media. They’re never going to go against who they believe their audience is. And the right does this as well, but not as much. So you got to understand that there is a grievance industry and that industry is going to kick in whenever there is a minority controversy.”

The Fox hosts asked O’Reilly to respond to figures like Stevie Wonder, will.i.am and Rihanna, who were loudly protesting the verdict.

“Why do you think they’re doing this? It’s because they want to sell product to people who feel that way,” O’Reilly said. “It’s bad for business to go against your crew. If the minority crew believes this was an injustice, a guy like Stevie Wonder or Rihanna or whoever it is isn’t going to say you’re wrong. It’s bad for business!”

Steve Doocy pointed out that Stevie Wonder’s boycott of states with Stand Your Ground laws would “knock out thirty states.”

“It’s his right,” O’Reilly said. “If he feels that strongly about it, don’t perform there. I don’t have any beef with Stevie Wonder. I do have a beef with people who are dishonest and playing to a certain sentiment to make money. That’s what it’s all about…It’s not about Trayvon Martin. It’s about the money. And then the politicians use the poor boy’s death to push gun control or whatever they want to push. Trayvon Martin is being exploited now. They’re exploiting him, and it’s wrong.”

Watch the segment below, via Fox News:

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