Former hedge fund CEO Dave McCormick often touts his deep connection to Pennsylvania as he lays the groundwork for another likely Senate run.

But the reality is more complex. While McCormick does own a home in Pittsburgh, a review of public records, real estate listings and footage from recent interviews indicates he still lives on Connecticut’s “Gold Coast,” one of the densest concentrations of wealth in America. The former hedge fund CEO rents a $16 million mansion in Westport that features a 1,500-bottle wine cellar, an elevator and a “private waterfront resort” overlooking Long Island Sound.

  • AutoTL;DR@lemmings.worldBEnglish
    61·
    1 year ago

    This is the best summary I could come up with:

    WASHINGTON (AP) — David McCormick had a clear explanation for why his fellow Republican, Dr. Mehmet Oz, lost a critical Pennsylvania Senate seat last year: Voters viewed the daytime television celebrity as an interloper from New Jersey with limited ties to the state he hoped to represent.

    While McCormick does own a home in Pittsburgh, a review of public records, real estate listings and footage from recent interviews indicates he still lives on Connecticut’s “Gold Coast,” one of the densest concentrations of wealth in America.

    The trappings of a wealthy enclave, well outside Pennsylvania, offer a jarring contrast with the political identity McCormick has sought to cultivate, which emphasizes his upbringing buck hunting, his Army service and his desire to serve his home state.

    Whether voters care will be tested anew should McCormick formally launch a campaign to unseat three-term Democratic Sen. Bob Casey in the 2024 election, which will help determine partisan control of the chamber.

    A spokeswoman for McCormick, Elizabeth Gregory, declined to make him available for an interview and would not say how much of his time he spends at his Connecticut mansion, which also boasts a spa, pool and heated pavilion nestled in an area that real estate listings describe as a “summer playground of America’s wealthiest families.”

    During the heady days of the dot-com bubble, McCormick was CEO of the internet auctioneering house FreeMarkets — amassing wealth as he steered the Pittsburgh-based company to a nearly $500 million acquisition deal in 2004.

    I’m a bot and I’m open source!