In the Montana Senate race, Sheehy is presenting himself as a successful businessman compared to the professional politician, echoing Trump’s presidential campaigns. However, there are doubts about Sheehy’s level of success.
One argument is that Sheehy had a head start in his business due to his affluent family. Reports suggest he received approximately $400K in initial funding.
Tester inherited 1,800 acres of farmland from his grandparents’ estate. If valued at $500 per acre, this would amount to $900K, excluding other assets like buildings, machinery, and livestock.
What matters most is how they utilized these resources.
Tester appeared to manage the inherited farm competently, maintaining operations without significant growth, while maximizing farm subsidies. Prior to his nearly three-decade career in politics, he worked as a music teacher.
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On the other hand, Sheehy established a successful wildfire company employing approximately 150 individuals, generating $67 million in revenue. Their 2023 Balance Sheet indicates Fixed Assets worth $196 million, including planes, buildings, and equipment constructed by external contractors.
However, doubts are raised about Sheehy’s business expertise due to reported losses within his organization.
Financial statements often feature two key profit indicators: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and Taxable Income as defined by the IRS. EBITDA is commonly used to assess a company’s management performance.
Based on EBITDA, Sheehy’s company recorded $18.7 million in 2023, marking a $15 million increase from their 2022 EBITDA.
In conclusion, the evidence appears to suggest that Sheehy is indeed the savvy businessman he portrays himself to be, surpassing Tester in that regard.
