Nella’s Ad Ignores Troubling Business Record and Foreign Ties

May

2024

PRESS RELEASE

Nella’s Ad Ignores Troubling Business Record and Foreign Ties

Multimillionaire Hedge Fund Executive’s TV Ad Raises More Questions About Her Bridgewater Tenure and Investments in China

Nella Domenici, a multimillionaire former hedge fund executive who parachuted into New Mexico to run for Senate, is currently spending half a million dollars airing a TV ad across the state that proudly touts her business resume, but makes no mention of the companies she’s worked for.

Nella’s ad conveniently ignores her abysmal record at Bridgewater Associates, the world’s largest hedge fund, which demands more scrutiny to hold her accountable to New Mexico voters. So, the Democratic Party is stepping in to connect the dots she hopes you’ll overlook.

During Nella’s tenure as Chief Financial Officer of Bridgewater Associates, the company increased its investments in Chinese companies, including companies that were controlled by the Chinese military and would later be sanctioned.

“Nella’s ad is a classic case of smoke and mirrors. Instead of addressing the serious issues raised by her tenure at Bridgewater, Nella is trying to buy this election with her Wall Street fortune,” said Democratic Party of New Mexico Spokesperson Daniel Garcia. “New Mexicans deserve a candidate who is transparent and accountable, not someone who hides behind her last name and her bank account to avoid answering tough questions.”

While Nella worked as an executive for Bridgewater Associates, the firm disclosed in filings with the U.S. Department of Labor that it held billions of dollars in common stocks of Chinese and Hong Kong companies. This includes millions of dollars in investments of Chinese companies that would later be sanctioned by the United States for their association with the Chinese military, including firms involved in constructing China’s first aircraft carrier, developing a stealth bomber capable of delivering nuclear weapons to the US mainland, and a subsidiary of China’s largest missile manufacturer.

As a senior Trump administration official said after the Trump Administration imposed sanctions on a company that had received investment from Bridgewater “[t]his practice of basically financing the bonds of companies that are building the missiles to sink our ships is again the worst kind of Wall Street insanity that President Trump is putting a stop to today."

Domenici will largely self-fund her campaign, with money earned in part by investing in Chinese companies and managing the assets of the United States’ biggest adversary. She has given her campaign $500,000 to date and has committed to spending more.