Dave McCormick admits he spends half his time with wealthy donors

David McCormick speaks during a campaign stop in Lititz, Pa., on May 13, 2022. McCormick is expected to announce that he'll enter Pennsylvania’s U.S. Senate race in his second bid for the office, this time to take on Democratic Sen. Bob Casey after losing in last year’s Republican primary. (AP Photo/Matt Rourke, File)

By Sean Kitchen

January 23, 2024

“I’m everywhere prospecting mostly with really wealthy people, where you will all be in 20 years, or many of you. And I’m also spending half my time in Pennsylvania where the median income is $55 to $60,000,” Dave McCormick said at a New Hampshire event.

Dave McCormick, a former Connecticut based hedge fund manager and current Republican candidate running for US Senate in Pennsylvania, recently told a New Hampshire audience that he’s spending half of his time with wealthy donors.

“I’m spending half my time with donors. Essentially, it’s going to be the most expensive race in the country,” McCormick told a Dartmouth University crowd according to audio obtained by Heartland Signal, an online progressive media organization.

McCormick was invited to speak at the ivy league school for a discussion on Monday about public and private sector leadership with Matthew Slaughter, the dean of Dartmouth’s Tuck School of Business.

He then told the crowd that he’s relying on nationalizing the senate race between him and US Sen. Bob Casey in order to win and then goes on to say how he’s spending his time with wealthy people.

“I’m everywhere prospecting mostly with really wealthy people, where you will all be in 20 years, or many of you. And I’m also spending half my time in Pennsylvania where the median income is $55 to $60,000,” McCormick said.

McCormick amassed much of his fortune while serving as the president of Westport-based Bridgewater Associates, one of the world’s largest hedge funds, from 2009 to 2020 and as their president from 2020 to 2022.

McCormick’s wealth and his residency on Connecticut’s Gold Coast, which the Associated Press describes as “one of the densest concentrations of wealth in America,” have become focal points early on in the campaign.

The AP reported that McCormick rents a $16 million Westport mansion that includes a 1,500-bottle wine cellar, an elevator and a “private waterfront resort” overlooking the Long Island Sound.

 



Author

  • Sean Kitchen

    Sean Kitchen is the Keystone’s political correspondent, based in Harrisburg. Sean is originally from Philadelphia and spent five years working as a writer and researcher for Pennsylvania Spotlight.

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