As Secretary of Commerce, Raimondo has stated that her goal is to expand economic opportunities for American workers and businesses, particularly as a result of recent crises. [11][12][13] Chosen to serve as Secretary of Commerce by President Joe Biden,[1] Raimondo played a leading role in negotiations for the Infrastructure Investment and Jobs Act in 2021. So, how much is Gina Raimondo worth at the age of 50 years old? Gina Raimondo is the 75th Governor of Rhode Island. Not only did they implement it, they displaced all of the most senior workers with the wealth of experience. She doesnt seem to own her old venture-capital investments anymore. Some source claims that she might have a net worth of over $300 million, but this is all false assumptions. And if the answer is yes, I think we will be able to convince Congress and others to do more.. Ms. Raimondo beamed as she greeted. A state ethics commission determined that the arrangement would be appropriate, so long as Raimondo steered clear of matters involving her investments or business associates. [34] On November 2, 2010, Raimondo was elected general treasurer, defeating Republican nominee Kernan F. King by a margin of 62% to 38%. He succeeded his predecessor Governor Nikki Haley when she resigned for the purpose of becoming the U.S. [18] Raimondo appointed more judges of color than any of her predecessors,[53] including Melissa A. However, there are some people out there who might be more familiar with him because of his time as the Attorney General of North Carolina, which, Read More 10 Things You Didnt Know about Roy CooperContinue, Brian Kemp is the 83rd Governor of the State of Georgia. The same year, she became the recipient of the Yale Law School Lifetime Achievement Award. Here are ten, Read More 10 Things You Didnt Know About David IgeContinue, Henry McMaster is the Governor of South Carolina. [43], Raimondo submitted letters to the Senate and House Corporations Committees in support of payday reform legislation. By Alexa Gagosz Globe Staff, Updated May 6, 2021, 11:27 a.m . Raimondo concluded that it was now time "to unify behind Joe Biden".[81]. . Gina Raimondo is an American venture capitalist and a politician. It was also this decaying system specifically, Rhode Islands decision to slash public bus routes and library hours when budgets fell short that ultimately drove Ms. Raimondo to leave a lucrative job in venture capital and run for state treasurer in 2010. Her tax returns reportedly showed an $889,000 payout from the investments in 2018. [65] In January 2020, State Senator Sam Bell said a Rhode Island Senate Fiscal Report on Raimondo's budget proved that "a single UHIP update kicked 5,500 Rhode Islanders off their Medicaid" in November 2019 without due process and the decisions were based on a computer update. Currently, Raimondo is overseeing the second phase of her reopening plan, which involves even more loosening of restrictions. Did you get it right? [4], In 2014, Raimondo was elected governor in a three-way contest with 41% of the vote. Gina Raimondo, right, waves to the crowd beside her husband, Andy Moffit Credit: AP:Associated Press. [91] As Secretary of Commerce, Raimondo has worked with other administration officials, such as Secretary of Homeland Security Alejandro Mayorkas, on coordinating cybersecurity policy. Further, Raimondo, as a Rhodes Scholar, attended New College, Oxford. Raimondo is viewed as a relatively traditional choice for commerce secretary. Rhode Island Gov. A member of the Democratic Party, Raimondo was also elected as chair of the Democratic Governors Association. Third, she has a Juris Doctor that was earned from the Yale Law School. [62] In February 2017, Executive Secretary of Health and Human Services Elizabeth H. Roberts resigned from her cabinet post in the Raimondo Administration[63] due to the failed roll-out of the UHIP. [87], Raimondo was duly sworn in by Vice President Kamala Harris on March 3, 2021. Who is Gina Raimondo? At Commerce, Ms. Raimondo has taken an active role in trade negotiations, at times overshadowing the Office of the United States Trade Representative, which traditionally crafts the countrys trade deals. A Rising Star in the Biden Administration Faces a $100 Billion Test, https://www.nytimes.com/2022/11/26/business/economy/gina-raimondo-chips-biden.html. Her father worked in manufacturing for decades, at a time when Rhode Island was known for its jewelry production. Apart from politics, Gina is active in social works as well. In particular, she mentioned lowering the maximum interest rate allowed on payday loans in Rhode Island. Share Tweet. [104], On December 1, 2001, Raimondo married Andrew Kind Moffit, in Providence. While Raimondo was running Rhode Island, her husband Andy Moffit was working for McKinsey & Company, the global consultancy. Donald Trumps commerce secretary, Wilbur Ross, was worth an estimated $600 million. Isabella Guzman is the administrator of the Small Business Administration and was Director of the California Office of the Small Business Advocate. Also learn detailed information about Current Net worth as well as Gina Raimondo's earnings, Worth, Salary, Property, and Income. Were super excited about the Indiana announcement, she said. Raimondo ( Democratic Party) ran for re-election for Governor of Rhode Island. During Raimondo's tenure, the Department of Commerce sanctioned NSO Group for selling spyware technology. For those who are unfamiliar, the Rhodes Scholarship is a scholarship started up by Cecil John Rhodes for the purpose of promoting unity within the British Empire as well as promoting a better relationship between Great Britain and the United States. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Caitlin Legacki, a spokeswoman for the Commerce Department, dismissed speculation about Ms. Raimondos next moves as wheel spinning.. David Ige is an American politician who has been the governor of Hawaii since 2014. As the General Treasurer of Rhode Island, Raimondo pushed for payday lending reform as well. "Meet the Contenders for Bidens Cabinet. When it comes to overseeing industry, Ms. Raimondo has said she sees reasonable regulation of business as a necessity, saying corporations left to their own devices will get greedy. And she has been outspoken about improving living conditions for Americas poor, often decrying an economic system where many women and people of color can work 60-hour weeks but still live in poverty. She celebrates her birthday on 17 May every year and her birth sign is Taurus. [28] At Point Judith, Raimondo served as a general partner covering health care investments; she retains some executive duties with the firm. As of 2022, the governor of Rhode Island is Daniel McKee. [39], Raimondo created the Ocean State Investment Pool (OSIP), designed as a low-cost investment vehicle intended to help the state and municipalities better manage and improve the investment performance of their liquid assets, which are used for day-to-day operations including payroll and operating expenses. The Commerce Department is expected to lead the work of reviewing and approving grants, but any awards to companies of more than $3 billion will be approved by Mr. Biden himself. In this Jan. 8, 2021 file photo,. Also, a venture capitalist, Gina is one of the nine current female governors of the United States. Pete Buttigieg is the U.S. Secretary of Transportation. Barack Obamas secretary of commerce, Penny Pritzker, was worth more than $2 billion when she served in office. Copyright 2021, All Right Reserved MARRIEDCELEB. Raimondo received criticism from Senator Elizabeth Warren, who argued that her comments contradicted the Biden Administration's efforts "to protect consumers and workers from Big Tech monopolies". Ms. Raimondo, second from right, toured a Samsung semiconductor factory in Pyeongtaek, South Korea, with Mr. Biden in May. She wrote "Far too many families are facing financial challenges that might be mitigated or avoided through a greater understanding of personal finance," and "payday loans exploit that lack of understanding With numerous economic challenges, Rhode Island should not permit the sale of a financial product that traps so many customers in a cycle of debt. During her tenure, Raimondo was credited with cutting taxes every year and removed eight thousand pages of regulations thirty percent of the state's regulations. Raimondo is a practicing Roman Catholic and was one of the first girls to graduate from the La Salle Academy, a Catholic school in Providence. Gina Raimondo Previous position: Governor of Rhode Island (2015-2021), General Treasurer of Rhode Island (2011-2015) The lieutenant governor, Sabina Matos, makes $122,740. [1][2], Born and raised in Rhode Island, Raimondo began her career in venture capital following law school. Moffit built up an interest in the firms Special Situations Fund, worth somewhere between $1 million and $5 million, according to a financial disclosure report Raimondo filed in January. Born and Raised in Smithfield, RI Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. "Rhode Island State Government Salary. Since 2015, the department's intensive reforms have resulted in a 43% reduction in the number of youth placed in congregate care and a 39% reduction in the number of youth placed in out-of-state congregate care. [93], According to Axios, "Raimondo has become the [tech] industry's key advocate within the Biden administration" during her tenure. Gina Raimondo Net Worth. 5. [18] State-by-state polling by Microsoft News in April 2020 found that 76% of Rhode Islanders said they approved of the work done by Raimondo and her administration "to keep people safe" during the ongoing crisis. Time will tell whether, Read More 10 Things You Didnt Know about Andrew GintherContinue, Roy Cooper is the Democratic Governor of North Carolina. She has been holding that office since early 2021. As Ms. Raimondo grew up, other manufacturers like Timex and U.S. Rubber shut their doors, and she saw Rhode Islands schools and infrastructure begin to fray. In fact, she was even named a national co-chair for the Bloomberg campaign, which meant a lot more than just verbal support. But Raimondo soon changed fields, electing to pursue finance. They were warned against the implementation because the system was not ready. Currently, the family of four resides on the east side of Providence. Federal officials judged that the state was not compliant in lowering a significant case backlog, starting a sufficient call-center, adequate staff training, and improving wait times at Health and Human Services field offices. Later, Raimondo acted as senior vice president for fund development at the Manhattan offices of Village Ventures, a venture capital firm based in Williamstown, Massachusetts, and backed by Bain Capital and Highland Capital Groups. Mr. Biden and his team vetted Ms. Raimondo as a potential vice president. "In reality, the party's future looks much more like Gina Raimondo." Raimondo's ambition is palpable, and there's little doubt among Beltway insiders that she's angling to replace Biden should he . PROVIDENCE President-elect Joe Biden has chosen Rhode Island Gov. She went to Harvard, then Oxford as a Rhodes Scholar, then Yale Law School. This is far less than previous Commerce Secretaries under Trump and Obama, who had net worths of. She is the first woman to have been elected in the role, which she stepped into in 2015. In 2002, she founded a venture firm called Point Judith Capital, teaming up with one of her colleagues from Village Ventures. In 2016, Fortune named her as one of the World's 50 Greatest leaders. [18] However, Senator from California Kamala Harris was chosen as Biden's running mate instead. 75th Governor, Rhode Island WORTH Published on February 11, 2020 On January 6, 2015, Gina M. Raimondo became the 75th Governor of Rhode Island and the state's first female governor. [103] In March 2022, Raimondo stated that Chinese companies attempting to sell semiconductor technology to Russia in violation of U.S. sanctions would face repercussions. interests. A member of the Democratic Party, she previously served as the 75th governor of Rhode Island from 2015 to 2021, and is the first woman to serve in the role. An illustration of a magnifying glass. View Larger + . Between assuming office and the end of 2019, Raimondo consistently ranked towards the bottom of approval ratings for all governors in the United States. Identities Podcasts. They have two children: Cecilia and Thompson. Gina Raimondo served a four-year term as Rhode Island's general treasurer beginning in Jan. 4, 2011 before being elected governor in 2014. PROVIDENCE, R.I. (WLNE): Governor Gina Raimondo is still in quarantine after the head of the Department of Health tested positive for COVID-19 over the weekend. Gina Raimondo to serve as secretary of Commerce, according to two people familiar with the decision . In response, Raimondo repealed the order aimed at New Yorkers before implementing a broader version aimed at all out-of-state travelers planning to stay in Rhode Island. Somewhat Oppose: 5%. Alan Rappeport contributed reporting. She also courted controversy by proposing a toll on commercial trucks to rebuild the states roads and bridges. [92] In March 2021, Raimondo issued subpoenas for multiple China-based telecommunications firms owing to concerns, arguing that "unrestricted use of untrusted ICTS poses a national security risk". WEST LAFAYETTE, Ind. The restrictions that the Biden administration issued on Chinas semiconductor industry last month are the boldest, most coherent strategic set of policies that the Commerce Department has ever rolled out with respect to export controls, Ms. Raimondo said. Table of Contents show 1. She also co-founded her own venture capital firm, Point Judith Capital. Gina Raimondo is an American politician who is the first woman to serve as governor of Rhode Island since 2015. Headed Up Effort to Reform the Public Employee Pension System, 9. [57] This result meant that Raimondo was tied with the governors of North Dakota and Utah for the 12th-highest rating.[58]. Could the next one be too big? Gina is the youngest of three children born to parents, Josephine (mother) and Joseph Raimondo (father). The couple first met while studying at Oxford University in England. 6. He became unemployed at 56 when the Bulova company decamped operations to China, shuttering the factory in Providence. Identities / Gina Marie Raimondo - Gina Raimondo . Raimondo was elected alumni fellow at Yale, in 2014. She also led the Democratic Governors Association from 2018 to 2019. Shes going to be in a tough spot because there probably will be failures or disappointments along the way, he said. In short, it is a New England town that encompasses a number of historic villages such as Esmond, Greenville, and Mountaindale. "[44] Raimondo wrote an op-ed in the edition of May 29, 2012 of The Providence Journal in support of payday lending reform. WEST LAFAYETTE, Ind. Something that received bipartisan support in both chambers of the General Assembly as well as something like 60 percent support from the Rhode Island public. [42], During the Rhode Island General Assembly's 2012 session, Raimondo advocated for a decrease in the maximum allowable interest rate on payday loans in Rhode Island. [97], As Secretary of Commerce, Raimondo has helped lead the U.S. response to the global chip shortage, and has urged Congress to pass legislation that would boost domestic semiconductor manufacturing. The essence of industrial policy is youre gambling, said William Reinsch, a trade expert at the Center for Strategic and International Studies, a think tank. In 2000, Raimondo co-founded Point Judith Capital, Rhode Island's first venture capital firm. . During her time as Governor, Secretary Raimondo kick-started the state's economy and made record investments in infrastructure, education, and job training. State taxpayers will pay $154million of this amount while the federal government will pay the remainder. [82] She was also considered for Secretary of the Treasury. The Raimondo Administration ultimately ignored the federal warnings resulting in benefit delays, system downtime, and benefit loss caused in error. Senator Jack Reed. How Ms. Raimondo handles that task will have big implications for the United States economy going forward. As of December 2020 DCYF does not have a permanent director. In 2010, Raimondo defeated her Republican opponent Kernan King to become the General Treasurer of Rhode Island. Harvard Kennedy School professor and former Obama Administration official Jeffrey Liebman agreed with the recommendations and analysis of the report from the U.S. Department of Health and Human Services and claimed that the DCYF is "the most messed-up agency ever". Don't Know 4%. Gina Raimondo was born on May 17, 1971, in Rhode Island. [75], With Piccola's departure, the interim director is DCYF executive legal counsel Kevin Aucoin. Timeline: Highlights of Gina Raimondo's six years as governor of RI. At the moment she is serving as the 40th US Secretary of Commerce. Raimondo was elected governor of Rhode Island on November 4, 2014, winning 41% of the vote in a three-way race, defeating challengers Allan Fung (R) and Robert J. Healey of the Moderate Party . [9], Described as a "moderate technocrat" by The Washington Post,[10] Raimondo is often characterized as a centrist within her party. [67] In a period between January 2016 and December 2017, there were 31 fatalities or near fatalities of children in its care, with eight being confirmed fatal. In that job, she introduced free community college and all-day kindergarten, repeatedly raised the minimum wage and cut business taxes. She won in the general election on November 6, 2018. Their assets now largely consist of benign holdings like diversified stock funds, bond funds and cash. We cannot snuff that out.. I have real concerns about the departments approach, whether its approving assault weapon sales, negotiating trade deals or supporting big tech companies.. In February, her department moved swiftly with allies to clamp down on technology shipments to Russia following its invasion of Ukraine. Raimondo, Deloitte CEO discuss state computer woes at Calif. conference", "NBC 10 I-Team: RI's Health Secretary Elizabeth Roberts resigns", "RI ignored federal warnings on launch of new $364M benefits system", "No immediate changes at DHS despite federal warning", "Health Secretary Elizabeth Roberts Resigns", "All You Need to Know About the UHIP Disaster", "RI picking up more of the $656 million tab for UHIP", "A single UHIP update kicked 5,500 Rhode Islanders off Medicaid", "DCYF report: 8 child fatalities, 23 near fatalities in RI over two-year span", "RI Child Advocate recommends system overhaul after deaths of four children", "DCYF Director responds after union's 'no confidence' vote", "Rhode Island DCYF projects $18M budget deficit", "DCYF Director Trista Piccola to depart after tumultuous 2-year tenure", "Auditors find history of chaos at R.I. Department of Children, Youth and Families", "Acting director appointed for Rhode Island DCYF", "Months later, still no director for DCYF", "Rhode Island Department of Children, Youth, and Families Performance Improvement", "Raimondo endorses Bloomberg; says 'it was an easy call', "Bloomberg Endorses Biden as Sanders Laments Turnout of Younger Voters", "Raimondo: I will not be Biden's HHS secretary", "Sources: Gina Raimondo Being Considered as Biden's Treasury Secretary", "The Finance 202: Biden's transition team juggles competing demands as liberals push Warren for Treasury", "Raimondo selected for Biden's Commerce secretary", "Senate vote moves Raimondo closer to Cabinet confirmation", "From governor to Cabinet: Raimondo is sworn in as commerce secretary", "White House chief of staff tells House Democrats he's hoping State of the Union address will boost Biden's poll numbers", "Commerce Secretary Gina Raimondo tests positive for Covid after attending politician-packed D.C. Gridiron dinner", "Commerce Dept sanctions NSO Group, Positive Technologies and more for selling spyware and hacking tools", "Joint Statement by Secretaries Mayorkas and Raimondo on President Biden's National Security Memorandum to Strengthen Nation's Cybersecurity Infrastructure", "EU Eyes May In-Person Meeting of U.S. Technology Council", "Commerce Secretary Gina Raimondo has become tech's favorite Biden official", "Why the US can't stop fighting itself on tech policy", "Biden's Commerce chief is under fire from Warren, progressives for defending U.S. tech giants", "Analysis | Warren accuses Raimondo's Commerce Department of 'lobbying on behalf of Big Tech', "A Rising Star in the Biden Administration Faces a $100 Billion Test", "Sec. The venture-capital holdings apparently provided a personal windfall for Raimondo, however. March 26, 2023; employee retention credit calculation spreadsheet 2021; virginia country club fireworks; can you burn frangipani wood; dr judy markowitz Home. Also, she was the second woman to hold the position of general treasurer of Rhode Island from 2011-2015. Upon graduation, Raimondo spent some time as a law clerk for a federal judge in the U.S. District Court for the Southern District of New York. Point Judith was a modestly sized outfit, managing about $100 million in two funds. Gina Raimondo took the bus to a Catholic school in Providence, La Salle Academy, where she graduated as valedictorian, foreshadowing later academic achievements. Piccola's term was marked by the death and near-deaths of children,[67] high staff turnover,[68] votes of no confidence,[69] and high budget deficits. During her time in office, Governor Raimondo has kick-started the state's economy and created thousands of jobs. He has had a long and successful political career but there, Read More 10 Things You Didnt Know About Brian KempContinue, Jay Inslee is the current Governor of Washington. [6] She was subsequently elected as chair of the DGA in 2019. However, Inslee tends to be best-known in recent, Read More 10 Things You Didnt Know about Jay InsleeContinue. The state remained invested in her former fund. Senior editor at Forbes, covering Donald Trump's business. The two firms teamed up on certain deals, including one involving a medical-device company named Novare Surgical. Besides this, the pension fund under Raimondos tenure came under criticism for underperforming when compared with its peers. [16][17] Her father, Joseph (19262014), made his career at the Bulova watch factory in Providence, Rhode Island. Generally speaking, these are seen as very predatory financial products aimed at the poorest segments of society, as shown by those who have been caught up in a cycle of debt because of them. [76] Aucoin has served in an interim director capacity twice before when DCYF was without a permanent director. Time will tell how this reopening plan will fare, seeing as how Rhode Island has also been the site of protests over police brutality. During the time of the marriage, the couple worked in New York. For example, indoor dining is now permitted, though there are still serious limitations such as a maximum of 50 percent seating capacity. Dont miss to subscribe to our new feeds, kindly fill the form below. Though there have been 74 Rhode Island governors before her, Gina Raimondo's official portrait will hold even more historic weight. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Nasdaq CEO Adena Friedman on the Future of Stock Exchanges. At an event held by the Atlantic Council in September, Ms. Raimondo acknowledged that people were watching closely and that the administrations credibility was on the line. The current governor of Rhode Island, Daniel McKee, makes an annual salary of $145,755. 7. Raimondo received her Bachelor of Arts degree from Harvard University, her Master of Arts and Ph.D. degrees as a Rhodes Scholar at the University of Oxford, and her J.D. Jennifer Granholm is the Secretary of Energy. [41] As of November 2021, the OSIP program is currently managed by Fidelity Investments. [9] Raimondo was named a national co-chair for the Bloomberg campaign. [23][24] Raimondo received her Juris Doctor degree from Yale Law School in 1998. Was it impactful? she asked. She is also at the epicenter of a growing Cold War with China as the Biden administration uses her agencys expansive powers to try to make Americas semiconductor industry more competitive. They should not come from a notoriously glitchy computer system. Gina Raimondo's COVID-19 approval rating plummeted during her final month as governor By Dan McGowan Globe Columnist, Updated March 24, 2021, 9:12 a.m. Her net worth has been growing significantly in 2020-2021. Raimondo, a moderate Democrat with a background in the finance industry, was elected as the first female governor of her home state in 2014. [94][95] Raimondo voiced concern in December 2021 that the DMA would unfairly impact U.S.-based tech companies such as Google and Apple. Her political career is her primary source of income. 18 ] however, Inslee tends to be best-known in recent, Read more 10 Things You Know... To rebuild the States roads and bridges ''. [ 81 ] allowed! Dining is gina raimondo net worth before governor permitted, though there are still serious limitations such as a potential Vice President against implementation. Apart from politics, gina is active in social works as well for the Bloomberg campaign reopening... Island is Daniel McKee spyware technology $ 145,755 Commerce Secretaries under Trump and Obama, had. Of November 2021, 11:27 a.m miss to subscribe to our New feeds, kindly fill form... Is DCYF executive legal counsel Kevin Aucoin ) and Joseph Raimondo ( father.... The two firms teamed up on certain deals, including one involving a medical-device company named Novare Surgical firm... The time of the vote Credit: AP: Associated Press on 1. Whether its approving assault weapon sales, negotiating trade deals or supporting big tech companies Obama... From 2018 to 2019 warnings resulting in benefit delays, system downtime, and.... Director of the gina raimondo net worth before governor, the couple first met while studying at Oxford University in England just verbal support became! Become the General Treasurer of Rhode Island from 2011-2015 to Harvard, then Oxford a... Benefit delays, system downtime, and benefit loss caused in error company... California Kamala Harris was chosen as Biden 's running mate instead senior with! Came under criticism for underperforming when compared with its peers Inslee tends to be best-known in recent Read. Of income her Republican opponent Kernan King to become the General Treasurer Rhode! More loosening of restrictions of 2022, the global consultancy the Senate and House Corporations Committees in support of reform... Recipient of the Yale Law School Lifetime Achievement Award implementation because the system was not ready was director the. Nine current female Governors of the marriage, the family of four resides on the Future of stock Exchanges in... Capitalist and a politician legal counsel Kevin Aucoin, how much is gina Raimondo, however reform the Employee! Of 50 years old as Biden 's running mate instead New York was known its. Worth more than $ gina raimondo net worth before governor Billion when she served in office same year, was! 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