Mikie Sherrill’s Finances and Stock Trading Attacks Take Center Stage in N.J. Governor’s Race
Republican contender Jack Ciattarelli is accusing Democratic opponent Mikie Sherrill of benefitting from improper stock dealings while in Congress, escalating the New Jersey governor’s contest. Ciattarelli has consistently claimed that Sherrill’s fortune tripled during her term, citing financial filings showing her net worth at over $11 million. His campaign claims Sherrill benefited herself while ordinary people struggled, arguing integrity.
Sherrill’s team has strenuously resisted, claiming she has been forthright with her money and has not traded stocks in years. Her spokeswoman stressed that she revealed her assets to the dollar, exceeding most Congressmen’s standards. According to statistics, Sherrill’s financial gain is mostly due to her husband, Jason Hedberg, a Manhattan UBS senior executive who earned over $5 million in pay and incentives over the past two years.
A 2022 probe found probable conflicts between Sherrill’s committee responsibilities and stock trades, sparking the issue. Her campaign claims that her 2021 late disclosure fine was modest, connected to her husband’s UBS shares, and was remedied with a $400 late fee. Ethics experts have downplayed the problem, equating it to a parking ticket rather than a scandal.
In 2020, Sherrill sold all individual equities and moved the family’s investments into exchange-traded funds, which she says shows her commitment to avoiding conflicts of interest. Her husband’s compensation includes UBS shares, thus the only trades reported since then involve it. She stressed transparency and reminded voters of her financial records at the latest gubernatorial debate.
However, Ciattarelli has made stock trading a core campaign issue, even developing a website. He compares Sherrill’s financial rise against his own, suggesting that public service lost him money. The Republican contender claims Sherrill’s punishment demonstrates she broke the law, but her team says it exaggerated.
Stock trading discussion comes as polls show the election narrowing, with both candidates tied statistically. Beyond finances, both sides accuse the other of deceiving voters on taxes and energy expenses. As the election approaches, Ciattarelli’s campaign will likely focus on Sherrill’s money, while she emphasizes transparency and her husband’s high-paying financial position as their main source of wealth.
Sources
Emerson College Polling
The New York Times investigation
Business Insider financial reporting
Statements from campaign spokespeople
Congressional financial disclosure records
