Jack Ciattarelli, a candidate for governor in New Jersey, along with several Republican groups, has criticized Democratic candidate Rep. Mikie Sherrill for the significant increase in her net worth during her time in Congress.
“In the years she was in Congress, she tripled her net worth,” Ciattarelli remarked during a debate with Sherrill on Sunday.
Republican officials continued to target Sherrill on Monday, asserting that she profited over $7 million from stock trades while serving in Congress.
Following the debate, Republican Governors Association and other GOP-affiliated groups pointed to Sherrill’s statements regarding a surge in her net worth, which had been discussed by radio host Charlamagne Tha God.
“I’m not sure what you mean, but I need to look into it,” Sherrill responded during an appearance on “The Breakfast Club.”
“I don’t trade individual stocks,” she added. “That’s well-known. My husband doesn’t either.” Sherrill, who earns $174,000 a year as the representative for New Jersey’s 11th Congressional District, reported in 2019 financial disclosures assets ranging from $733,209 to $4,321,000.
Her latest disclosure, filed in August, outlines her and her husband’s assets, revealing her net worth increased to $11,321,863—an increase of $7 million from her highest reported figure in 2019.
This substantial growth in wealth is partly attributed to the purchase of a residence in Washington, D.C. in 2021, where she also rented to Virginia Democratic gubernatorial candidate Abigail Spanberger.
Unlike primary homes, lawmakers must disclose estimates for rental properties. Sherrill’s rental property is valued at over $1.5 million.
Her recent filings reflect several stock transactions, which seem mainly linked to her investment banker husband’s compensation package.
According to tracking entities, Sherrill and her UBS executive husband, Jason Hedberg, have sold UBS stock every year since she entered office in 2019, with each sale ranging from $50,001 to $500,000.
In 2021, Sherrill faced a $400 fine for not reporting UBS stock sales of up to $350,000 within the mandated 45-day timeframe.
The spokesperson for Sherrill clarified, “These transactions were sales of vested shares her husband acquired as part of his job.” Previously, they sold their entire stock portfolio in early 2020, coinciding with the onset of the coronavirus pandemic, swapping it for investments in exchange-traded funds (ETFs).
This decision was characterized by some as a move to avoid potential conflicts of interest, considering Sherrill’s position as a lawmaker.
Sherrill currently has an 8.8 percentage point lead over former state assemblyman Ciattarelli, per the latest aggregation of polls.
The only available poll is an internal one commissioned by the Ciattarelli campaign.
Requests for comments from Sherrill’s campaign went unanswered.
