Former hedge fund executive Dave McCormick is the clear favorite for a Pennsylvania Senate seat among deep-pocketed Wall Street donors.
McCormick is a Republican who is seeking to unseat Democratic Sen. Bob Casey in the state after losing the 2022 Republican primary to Donald Trump-backed celebrity surgeon Dr. Oz. It has an impressive list of donors, including Ken Griffin of Blackstone, Steve Schwarzman of Elliott Management, and others.paul singer According to Bloomberg.
The three billionaires contributed $18 million to the pro-McCormick super PAC Keystone Renewal, Bloomberg reported, citing people familiar with the group’s finances.
Griffin alone was in charge of a huge amount of $10 million, The Philadelphia Inquirer reported..
Keystone Renewal received just 34 donations between September and December, most of them over $100,000, according to the Inquirer.
Griffin, Charles Schwab and Paul Tudor Jones met in December at Tudor Jones’ more than 12,500-square-foot oceanfront property in Palm Beach, Florida, according to an invitation obtained by Bloomberg. Co-hosted a fundraising event.
Among the wealthy invitees are San Francisco Giants chief owner Charles Johnson, former Commerce Secretary Wilbur Ross, former Colorado Sen. Cory Gardner and merchant bank BDT & MSD Partners, Bloomberg reports. LLC founder Byron Trott was also included.
Attendees at the event reportedly paid between $3,300 and $24,500 per person, according to invitations.
Goldman Sachs employees have since donated a total of $377,000 to Mr. McCormick’s campaign, including CEO David Solomon, according to recent disclosures from the Federal Election Commission. Executives include John Waldron, chief operating officer (COO) John Waldron, Tucker York, Miriam Wheeler and Alison Mass. To Bloomberg.
The Post has reached out to Dave McCormick’s press secretary, Nathaniel Sizemore, for comment.
Bloomberg reports that Wall Streeters are motivated to support McCormick, even though he has no ties to Pennsylvania. This is likely due to his past experience as CEO of
Despite the high-profile support, a poll released Thursday showed Mr. Casey leading Mr. McCormick 47% to 35%. franklin and marshall college — a larger difference than when the group conducted the survey in October.
McCormick needs to improve his chances of winning before the April 23 primary.
The Senate’s financial industry allies have retired in recent years. These include Republican Pat Toomey of Pennsylvania, who worked as a derivatives trader before entering politics, and Rob Portman of Ohio, a former U.S. trade representative.
McCormick’s donor list includes former Treasury Secretary Henry Paulson, Crowe Holdings Chairman Harlan Crowe, investor Stanley Druckenmiller, AQR Capital Management’s Cliff Asness, and Cleveland Browns owner Bloomberg reported that James Haslam is also included.
Backers raised $5.5 million for McCormick’s campaign in the fourth quarter alone and invested another $1 million in the Senate candidate’s first-quarter campaign. According to McCormick’s website.
The $6.4 million raise was “more than Bob Casey’s fundraising in any quarter in the past 18 years and one of the largest first quarters ever for a Republican challenger.” It was described as “funds”.
“This shows not only that there is real excitement and momentum for Mr. McCormick’s candidacy, but also the fact that Pennsylvania is a state that Mr. McCormick will win in November.”Keystone Renewal spokeswoman Brittany Yannick said in a statement to Bloomberg.
McCormick previously ran for the Senate in 2022, reportedly one of the most expensive Senate races ever.
That seat is currently held by Democrat John Fetterman. He is a champion of blue-collar workers and is famous for ditching ties and suit jackets for hoodies and shorts.
