McCormick Opposed the Bipartisan Foreign Aid Package to Back Ukraine in the Fight Against Russia
McCormick Pressured His Hedge Fund to Demonstrate “Loyalty” to the Saudis After the Murder of Jamal Khashoggi
McCormick Increased Investments in China by 108,000% as CEO of Bridgewater
PENNSYLVANIA — Connecticut hedge fund CEO and mega-millionaire David McCormick has a long record of enriching himself at the expense of working people. Following his remarks at the annual Conservative Political Action Conference today, his deep financial ties to countries like Saudi Arabia and China, investments in a site that platforms antisemitism, and opposition to critical funding for America’s allies, including Ukraine and Israel, are under scrutiny.
Pennsylvania Democratic Party spokesperson TaNisha Cameron issued the following statement:
“At every opportunity, David McCormick has sold Pennsylvanians out to US adversaries to boost his bottom line. He has invested in Chinese companies that have been blacklisted by the U.S. government, pushed his hedge fund to show loyalty to Saudi Arabia, and invested millions of dollars in a site that defends antisemitic hate speech. McCormick’s record of investing and managing billions with America’s adversaries is disqualifying.”
Here’s David McCormick’s Record of Putting America’s Adversaries Ahead of Pennsylvanians:
- McCormick invested millions in Rumble, a “far-right web hosting platform that is a bastion for antisemitic hate speech.”
- His financial disclosures show that McCormick holds “between $1 million and $5 million of stock in Rumble Incorporated.”
- Rumble has attracted controversy for allowing content from Nick Fuentes, who has been banned from other social media platforms for promoting antisemitism and Holocaust denial.
- In a video uploaded to Rumble, Fuentes said he will ally himself with any person who “says they love Hitler.”
- McCormick opposes aid to Ukraine.
- McCormick came out against a bipartisan foreign aid package that would provide critical funding to America’s allies, including Ukraine, Israel, Taiwan.
- John Fredericks: “If you’re in the Senate, Dave, would you vote for [the bipartisan foreign aid package] as it was presented last night? Yes or no, and why?
- McCormick: “No, not as it was presented last night.” [John Fredericks Show, 2/13/24]
- McCormick came out against a bipartisan foreign aid package that would provide critical funding to America’s allies, including Ukraine, Israel, Taiwan.
- McCormick has also been criticized for managing money for the Saudi sovereign wealth fund.
- David McCormick has deep ties to the Saudi government’s sovereign wealth fund and even pressured his hedge fund to demonstrate “loyalty” to the Saudis after the murder of Jamal Khashoggi.
- McCormick and his financier wife have a “web of relationships” with the Saudis that pose an “ethical challenge.”
- David McCormick got rich by outsourcing jobs to China and India while laying off workers in Pennsylvania.
- As CEO of Freemarkets, McCormick laid off 50 workers in Pittsburgh – just weeks before announcing 100 new jobs in New Delhi.
- As CEO of Freemarkets, McCormick opened a new office in China.
- McCormick increased investments in China by 108,000% as CEO of Bridgewater, including companies blacklisted by the U.S. government.
- McCormick increased investments in China from $1.6 million to over $1.77 billion in less than five years.
- McCormick invested in blacklisted Chinese companies with ties to human rights violations and the Chinese military.
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