Former hedge fund CEO resides in Connecticut — but is vying for Pennsylvania Senate seat: report

Former hedge fund Chief Executive Officer (CEO) David McCormick is considering running to oust longtime United States Democratic Senator Bob Casey (D-Pennsylvania) in 2024.

However, according to an Associated Press (AP) report, the ex-leader of the "world's largest hedge fund," who was defeated by losing candidate Mehmet Oz in the 2022 Republican Senate primary, lives in Connecticut.

"I live in Pennsylvania," AP reports "McCormick said during a March appearance on [United States] Texas Sen. Ted Cruz's podcast."

Per AP, although the millionaire "does own a home in Pittsburgh, a review of public records, real estate listings and footage from recent interviews indicates he still lives on Connecticut's 'Gold Coast,' one of the densest concentrations of wealth in America."

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Following his November 2022 defeat, AP reports, McCormick's "children continued to attend a $53,000-a-year Connecticut private school where one is still enrolled, according to the school's website."

The news outlet notes, "recent Senate history suggests that even favorite sons can be stung when loose ties to home become a campaign issue."

Criticizing the former CEO, Senate Majority PAC President J.B. Poersch said, "This is all dress up. Covering up for the years that he spent as a hedge fund-monger appears to be just as important as pretending that he fits in."

Still, McCormick's spokesperson Elizabeth Gregory insists, "Dave has called Pennsylvania home for 30 years and served our country outside of Pennsylvania for an additional 13. It's the place he mailed letters back to when he served in Iraq and the place where three of his daughters were born. While he maintains a residence in Connecticut as his daughters finish high school, Dave's home is in Pittsburgh and for the last 10 years he has owned a working farm in his hometown of Bloomsburg, which has been in the family for decades."

Muhlenberg College political science professor Chris Borick told the news outlet McCormick "spent a big chunk of time working for Wall Street and living in Connecticut. There's nothing wrong with that choice — unless you want to be a U.S. senator from Pennsylvania. As someone who is aware that he is going to have to confront this, it's questionable to not really devote yourself."

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Associated Press' full report is available at this link.