FACT CHECK: David McCormick Sold Out Pennsylvania Workers While Cozying Up to China and America’s Adversaries

October 3, 2024

PENNSYLVANIA – Connecticut mega-millionaire David McCormick spent his career looking out for himself and his own bottom line while he sold out Pennsylvania workers and cozied up to China.

McCormick Sold Out Pennsylvanians:

As CEO of Bridgewater Associates, the world’s largest hedge fund, McCormick oversaw the mismanagement of police and firefighter pensions that contributed to hundreds of police officers leaving the force.
As CEO of Bridgewater, McCormick shorted the stock of American steel manufacturers and made millions by investing in U.S. Steel’s competitors.
McCormick has a long record of laying off hundreds of workers in Pennsylvania.
- WHYY: “FreeMarkets laid off or eliminated […] a grand total of 250 lost local jobs.”

McCormick Made His Fortune by Investing Millions in the Chinese Government and Military:

McCormick increased investments in China by 108,000% as CEO of Bridgewater.
McCormick invested millions in blacklisted Chinese military companies, helping to prop up the Chinese military with advanced weapons and equipment, including fighter jets, bombers, and aircraft carriers.
McCormick led Bridgewater while it invested nearly $1.7 million in China’s largest fentanyl producer.

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