Democratic gubernatorial candidate Mikie Sherrill has released a full record of her personal finances, listing exact values that go well beyond legal requirements. The move aims to counter claims from Republican opponent Jack Ciattarelli that she enriched herself in Congress.
Sherrill and her husband, Jason Hedberg, report a net worth of roughly $9.4 million, driven largely by Hedberg’s earnings as an equity derivatives executive in New York. He made nearly $2.9 million in 2024. Sherrill’s congressional salary is $174,000.
The couple’s holdings are almost entirely in exchange-traded funds, a shift Sherrill made in 2019 to avoid any conflicts of interest. They do not buy or sell individual stocks except to liquidate Hedberg’s UBS shares received as part of his compensation. Sherrill laid this out back in May when she was confronted on a popular radio show, but this is the first time she is releasing the proof to back her up.
Attack ads and a “Mikie Made Millions” website from Ciattarelli’s camp accuse her of questionable stock trades. But Sherrill’s filings show no unusual gains. In fact, her portfolio performed slightly below the S&P 500 in a recent review. In 2023, a survey by the PPC found that 86% of Americans supported a ban on congressional stock trading.
Critics often cite the broad reporting ranges allowed for congressional disclosures, which can inflate perceived wealth. Sherrill’s exact numbers reveal many assets near the low end of these ranges, such as savings accounts valued at just over $2,000 and $5,000 despite the forms permitting a $15,000 upper range.
The couple owns a home in Montclair, a small vacation property, and a D.C. townhouse valued at $1.55 million, all with mortgages. They hold $4.4 million in brokerage accounts, $214,000 in rollover IRAs, $530,000 in Hedberg’s 401(k), and $713,000 in life insurance value.
Their 2024 tax return shows $3.16 million in income, mostly from Hedberg’s salary. Capital gains were negative in three of the past four years.
Sherrill and Hedberg met at the U.S. Naval Academy and served in the Navy together. Her release is among the most detailed ever from a New Jersey gubernatorial contender, a move her campaign says sets a new transparency standard.
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