The CEO of the world’s largest hedge fund is gearing up to run for Senate in Pennsylvania

The CEO of the world’s largest hedge fund is gearing up to run for Senate in Pennsylvania

Bridgewater Associates Chief Executive David McCormick reportedly plans to run for a US Senate seat representing Pennsylvania in a 2022 race that could determine which party controls the chamber. The 56-year-old Republican and Gulf War veteran planned to file paperwork with the IRS creating the "Friends of Dave McCormick Exploratory Committee," Monday citing his advisers. An talking about Christmas reportedly began airing Tuesday on television in Pennsylvania. In the ad supported by the committee, he doesn't mention a Senate run. McCormick oversees Bridgewater, which manages more than $150 billion in assets a year. He has spent weeks discussing a potential run with GOP donors and leaders and may formally step into the Senate race next year, but no final decision has been made, the report said. The Democratic Party has a thin majority in the US Senate, and party leaders are girding against the . One high-profile contender for the Pennsylvania seat is Mehmet Oz, the physician on TV known as "Dr. Oz," who launched his bid as a Republican candidate this week. The Senate seat is expected to be especially competitive as the incumbent isn't running for re-election. Republicn Pat Toomey is retiring from the Senate. Several Democrats also