Report: NJ Rep. Sherrill Made $7M+ From Stock Trades

Rep. Mikie Sherrill, D-N.J., has seen her net worth grow dramatically while serving in Congress – by an amazing $7 million or more.

The New Jersey Democrat only joined Congress in 2019, but thanks to lucrative stock trading she has become fabulously wealthy, Jon Levine reported in The Washington Free Beacon.

The Beacon's reporting is based on an estimated average, given that federal financial disclosure forms require assets to be listed as range.

In 2019, Sherrill claimed assets in congressional disclosure forms of between $733,209 and $4.3 million.

But by 2024, Sherrill reported assets as high as $13.975 million, according to the Beacon.

"Members of the House of Representatives make an annual salary of $174,000, and the meteoric rise of Sherrill's net worth comes as a result of the exemplary performance of her stock portfolio," the Beacon reported.

Sherrill has made hundreds of stock transactions since her election to Congress, most notably during the COVID pandemic when, as a member of the House Armed Services Committee, she was privy to information the general public was not, the Free Beacon reported.

Members of Congress are allowed to trade stocks, provided they are reported within 30 days under the 2012 Stock Act.

Sherrill paid a $400 fine for failing to disclose up to $350,000 in stock sales in December, according to the Free Beacon.

Sen. Josh Hawley, R-Mo., reintroduced a bill last week that would ban members of Congress from trading or holding individual stocks. It is called the Pelosi Act.

"Members of Congress should be fighting for the people they were elected to serve — not day trading at the expense of their constituents," Hawley wrote in a statement.

"Americans have seen politician after politician turn a profit using information not available to the general public. It's time we ban all members of Congress from trading and holding stocks and restore Americans' trust in our nation's legislative body."

The bill is named after former House Speaker Nancy Pelosi, D-Calif., because her husband has drawn scrutiny for millions in suspected insider trading.

In Sherrill's case, her office in April 2020 said she moved away from trading individual stocks before the pandemic and before receiving briefings on it. However, the Free Beacon reported she made dozens of more trades July 17, 2020.

Sherrill in January was one of 43 lawmakers to co-introduce the TRUST Act, a House version of a bill that would ban members of Congress and family members from trading individual stocks.

"Mikie's life has been about public service, and she has been more than clear about her commitment to transparency and accountability in government," spokeswoman Carly Jones told the Free Beacon.

Sherrill is one of several Democrats running for governor of New Jersey in 2025.