Tim Sheehy misleads voters about his business record
Montana GOP Senate nominee Tim Sheehy is campaigning on his business success, but his company reported a net loss of over $77 million last year.
Millionaire former corporate executive and Montana Republican U.S. Senate nominee Tim Sheehy frequently touts his record as a “successful businessman” as a credential in his race against incumbent Democratic Sen. Jon Tester. On July 1, however, he resigned from his position as CEO of the aerospace company he founded after the company disclosed a net loss of $77 million in its earnings report for 2023.
“From war to business, Tim has shown time and again he gets it done,” Sheehy’s campaign website says. “Sheehy has created hundreds of Montana jobs and over one billion in enterprise value in the rural Montana economy. He has a proven understanding of job creation, enterprise growth, and the importance of a business-friendly environment.”
But as the Montana Free Press reported in April, under Sheehy’s leadership, Bridger Aerospace fell into significant debt, to the point that an auditor said in a note to the board of directors and shareholders, “The Company has suffered recurring losses from operations, operating cash flow deficits, debt covenant violations, and insufficient liquidity to fund its operations that raise substantial doubt about its ability to continue as a going concern.”
Even though the company was struggling and operating at a loss, Sheehy accepted millions of dollars annually in compensation, NBC News reported on Aug. 27. His most recent personal financial disclosure form indicates that he received $2,460,449.12 in wages from Bridger last year.
In one campaign ad, Sheehy tells voters: “I created a successful business from scratch. I created hundreds of jobs. I don’t need the money from lobbyists.”
These claims too are misleading. According to a Daily Beast report in December, Sheehy’s claims of building the business from nothing are contradicted by his own memoir, “Mudslingers: A True Story of American Firefighting,” in which he notes that his family provided hundreds of thousands of dollars in cash to get started.
Since joining the race, Sheehy has accepted tens of thousands of dollars in campaign donations from registered lobbyists and corporate political action committees.
“Montanans can’t trust Sheehy to be truthful about his own company,” the Montana Democratic Party said in an August press release, “and they can’t trust him in the U.S. Senate.”
In June, the Montana AFL-CIO endorsed Tester’s campaign for reelection, with statewide unions unanimous in their support.
“Jon Tester is the only candidate in this Senate race that is fighting on behalf of Montana’s workers and their families,” Erin Foley, the state AFL-CIO president, said in a press release posted on Tester’s campaign webpage. “Jon’s stood up for Montana’s unions from day one, and we know that he’ll always fight on our behalf in Washington to ensure that workers are getting a fair deal. Jon answers to the people of Montana, not outside special interests that want to kneecap unions and change our state.”
