New Jersey Governor Mikie Sherrill’s Household Earned Nearly $3.9 Million Last Year, Financial Records Show

Gov. Mikie Sherrill and her husband, Jason Hedberg, reported close to $3.9 million in total income last year, according to newly released financial disclosure documents and partial tax filings shared by the governor’s office. The bulk of the income came from Hedberg’s senior role in the financial sector, while Sherrill’s earnings reflected her time serving in Congress and her transition into the governor’s office.

The couple jointly reported about $3.76 million in wages and compensation for the year. In addition to their salary income, they also earned roughly $103,000 from stock dividends and around $3,000 from interest on investments. Their total income places them among high-earning public officials in the state, based on the disclosed figures.

According to the documents, the couple paid approximately $1.3 million in federal taxes. They also paid about $343,000 in New York state taxes, where Hedberg’s employment was based for part of the year, along with $35,344 in New Jersey state income taxes.

The financial details cover a year in which Sherrill was actively involved in her gubernatorial campaign. She served as a member of the U.S. House of Representatives until November, stepping down after securing victory in the race to become governor.

During that period, Sherrill earned about $174,000 annually as a congresswoman. Her husband, Jason Hedberg, held a senior executive position in global finance, serving as head of U.S. equity derivative sales at UBS until October. He later transitioned to a similar leadership role at the Royal Bank of Canada. His total compensation for the year exceeded $3.59 million, making him the primary contributor to the household income.

The couple, who have been married since 2005, own a home in Montclair, New Jersey, which they purchased in 2010. They paid more than $66,000 in property taxes on the residence last year. Reports also indicate that the family plans to move into Drumthwacket, the official governor’s residence in Princeton, later this summer, although the future of their Montclair property has not been confirmed.

Sherrill and Hedberg have four children, all of whom were listed as dependents on their joint tax filings.

Sherrill’s financial activity drew attention during her gubernatorial campaign, with critics questioning her stock-related disclosures and trading records while serving in Congress. She previously paid a fine related to reporting issues involving stock transactions and has stated that she does not personally trade individual stocks, emphasizing compliance with congressional reporting rules.

The disclosure highlights the significant personal wealth of some elected officials in the state, a trend seen among several past governors as well. New Jersey has previously been led by governors with strong financial backgrounds in business and investment sectors.

The newly released documents provide a detailed look at the governor’s household finances during a pivotal election year, offering voters a clearer view of income sources, tax obligations, and assets tied to public officials.

Sources:
Financial disclosure filings provided by the Office of the Governor of New Jersey
Partial federal and state tax return summaries included in public disclosure documents
U.S. House of Representatives salary records and public office compensation data