Nasdaq CEO Adena Friedman on the Future of Stock Exchanges. Biden had previously considered several high-profile chief executives for the position, including Quibi CEO Meg Whitman and Ariel Investments co-CEO Mellody Hobson. Additionally, she receives extra remuneration of $100,000, including bonuses and personal expenses. Meanwhile, her supporters claimed that the investments in hedge funds served to stabilize the portfolio for more consistent returns over time than otherwise possible. She joined a Massachusetts-based firm called Village Ventures, which created a network of regional venture-capital funds. Currently, she is on her second term, having won the gubernatorial election in 2014 as well as the gubernatorial election in 2018. Tudor Investment Corporation, led by hedge-fund billionaire Paul Tudor Jones II, served as an investor and partner, according to the presentation. President-elect Joe Biden has selected Rhode Island Gov. While she came from humble beginnings, Ms. Raimondo and her husband, Andy Moffit, a former executive at McKinsey & Company who is now chief people officer at a health care technology platform, have amassed a net worth of between $4 million and $12.5 million, according to government disclosure forms. Additionally, she receives extra remuneration of $100,000, including bonuses and personal expenses. Timeline: Highlights of Gina Raimondo's six years as governor of RI. [18] Raimondo appointed more judges of color than any of her predecessors,[53] including Melissa A. "[101] In October 2021, Raimondo was criticized for stating "there's no point in talking about decoupling our economy from China's" by Republican Senator Tom Cotton. 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. This site uses Akismet to reduce spam. 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. "[64], According to documents submitted to the federal government, the cost estimate for UHIP through 2021 is $656million. Gina is the youngest of three children born to parents, Josephine (mother) and Joseph Raimondo (father). When you lose your Medicaid with no warning and no effort to transition you onto the exchange, the consequences can be deadly. Also, a venture capitalist, Gina is one of the nine current female governors of the United States. 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 . 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. As a subscriber, you have 10 gift articles to give each month. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in the accounting and finance industries for more than 20 years. Headed Up Effort to Reform the Public Employee Pension System, 9. Jennifer Granholm is the Secretary of Energy. The couple first met while studying at Oxford University in England. [23][24] Raimondo received her Juris Doctor degree from Yale Law School in 1998. [55] Partnering with CVS, the nation's largest pharmacy chain, her state has achieved one of the nation's highest per capita levels of testing for COVID-19. I have real concerns about the departments approach, whether its approving assault weapon sales, negotiating trade deals or supporting big tech companies.. She is the former trustee at Women and Infants Hospital and Chair of its Quality Committee. September 2014: General Treasurer Gina Raimondo takes 42% of the vote to beat Angel Taveras, Clay Pell and Todd Giroux in the . Raimondo is viewed as a relatively traditional choice for commerce secretary. She was one of the first girls allowed to attend the Catholic school, where she graduated as valedictorian. Raimondo was elected alumni fellow at Yale, in 2014. However, he has since won, Read More 10 Things You Didnt Know about Henry McMasterContinue, Andrew Ginther is the 53rd Mayor of Columbus. Gina Raimondo took the bus to a Catholic school in Providence, La Salle Academy, where she graduated as valedictorian, foreshadowing later academic achievements. Pete Buttigieg is the U.S. Secretary of Transportation. 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. There is no exact information on Raimondo's fortune and net worth. You should have a chance to fight the decision to rip away your health insurance. Likewise, non-critical retailers can now let in one customer per 150 square feet, though they are still encouraged to have their customers pick up preorders. Of Italian descent, she is the youngest of Josephine (Piro) and Joseph Raimondo's three children. Therefore, she doesn't have to worry about her bank balance. She played an outsized role in some of the administrations major legislative victories, including reaching out to executives to win their support for the infrastructure bill and leaning on her relationships with lawmakers and executives to get funding for the semiconductor industry put into law. Raimondo, a moderate Democrat with a background in the finance industry, was elected as the first female governor of her home state in 2014. The Commerce Department, under Ms. Raimondos leadership, is now poised to begin distributing nearly $100 billion roughly 10 times the departments annual budget to build up the U.S. chip industry and expand broadband access throughout the country. There, she made changes to shore up the states pension system, clashing with unions and progressive Democrats in the process. 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. Gina Raimondo, right, waves to the crowd beside her husband, Andy Moffit Credit: AP:Associated Press. Democrat Gina Raimondo resigned the state's top office on Tuesday night, hours after winning U.S. Senate confirmation as commerce secretary on an. Both Ceci and Tommy are school kids at the moment. Her current term ends on January 20, 2025. Rather than divest her venture-capital holdings, Raimondo elected to put them in a trust, which she handed off to someone else to manage. [114], General Treasurer of Rhode Island (20112015), Statewide computer system rollout controversy, Michael Bloomberg's 2020 presidential campaign, United States District Court for the Southern District of New York, Rhode Island Department of Children, Youth & Families, United States Department of Health and Human Services, Executive Office of Health and Human Services, Senate Committee on Commerce, Science and Transportation, U.S.-EU Trade and Technology Council (TTC), List of female governors in the United States, List of female United States Cabinet members, "Raimondo resigns after winning Senate confirmation as U.S. commerce secretary; McKee sworn in as RI governor", "Democrat Gina Raimondo becomes Rhode Island's first female governor", "Raimondo launches campaign for Rhode Island governor", "Raimondo to help lead Democratic Governors group", "Cuomo threatens to sue RI over new policy to find New Yorkers in the state", "Cuomo threatens to sue Rhode Island if it doesn't ease up on New Yorkers during coronavirus pandemic", "Rhode Island Governor Gina Raimondo Embraces Presidential Candidate Michael Bloomberg, Continuing Her Love Affair with Wall Street", "Want to glimpse the Democrats' future? The CHIPS and Science Act, signed into law on Aug. 9, 2022, supports domestic semiconductor manufacturing, research, and development, and workforce development. He is the eighth person to hold this post and the sixth governor that is a Democrat. So, how much is Gina Raimondo worth at the age of 50 years old? The venture-capital holdings apparently provided a personal windfall for Raimondo, however. And in October, the department issued sweeping restrictions on advanced semiconductor exports to China in an attempt to curtail the countrys access to critical technology that can be used in war. Katherine Tai is the U.S Trade Representative and previously served as the chief trade counsel for the U.S. House Ways and Means Committee. 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. [36] The Rhode Island Retirement Security Act (RIRSA) was enacted by the General Assembly on November 17, 2012, with bipartisan support in both chambers. As Secretary of Commerce, Raimondo has stated that "The Commerce Department has a simple but vital missionto spur good-paying jobs, empower entrepreneurs to innovate and grow, and help American workers and businesses compete.". Her expertise covers a wide range of accounting, corporate finance, taxes, lending, and personal finance areas. Ultimately, his workplace, the Bulova watch factory, moved overseas, forcing the elder Raimondo into an early retirement in his 50s. DCYF has increased its capacity and utilization of licensed foster homes, including an increase in the number of licensed kinship families, from 280 in October 2019 to 576 in June 2020. Raimondo stands at a height of 5 feet 6 inches . In May 2020, writer George Will wrote in favor of Raimondo being chosen as Biden's running mate in the 2020 election. Their assets now largely consist of benign holdings like diversified stock funds, bond funds and cash. Net worth: $1 million and $5 million dollars; Gina Raimondo Age and Birthday. She also served as chair of the Democratic Governors' Association in 2019. 0:00. [50][51] Raimondo's reelection made her the first candidate to secure a majority of votes for that office since 2006. Currently, Raimondo is overseeing the second phase of her reopening plan, which involves even more loosening of restrictions. Cuomo seemed to have been irritated by this, with the result that he threatened to sue while still expressing the desire that everything could still be worked out in an amicable manner. The Raimondo Administration ultimately ignored the federal warnings resulting in benefit delays, system downtime, and benefit loss caused in error. While Gina sure has a massive income, her net worth might not be less than $5 million. Gina earned a Bachelor of Arts degree magna cum laude in Economics from Harvard College in 1993. 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. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Not only did they implement it, they displaced all of the most senior workers with the wealth of experience. Ms. Raimondo grew up in Rhode Island in a close-knit Roman Catholic family, raised partly by a brother 13 years her senior who recalled wrestling with her and throwing her in the water at the beach. [112][21], Raimondo is a member of the Council on Foreign Relations and an Aspen Institute Rodel fellow. [113], Raimondo serves as vice chair of the board of directors of Crossroads Rhode Island, the state's largest homeless services organization. He is a member of the Republican Party who assumed office in 2019. [14], Gina Marie Raimondo was born in 1971[15] in Smithfield, Rhode Island, where she later grew up. Somewhat Oppose: 5%. Her supporters say she could ascend to another cabinet position, run for the Senate or perhaps mount a presidential bid. The incoming administration will select Gina M. Raimondo, a moderate Democrat, to guide a sprawling department critical to business and . Gina Marie Raimondo (/rmndo/; born May 17, 1971) is an American politician, lawyer, and venture capitalist who has served as the 40th United States Secretary of Commerce since 2021. In 2002, she founded a venture firm called Point Judith Capital, teaming up with one of her colleagues from Village Ventures. Who is Gina Raimondo? Long, the first Black woman to serve on the Rhode Island Supreme Court.[54]. Though there have been 74 Rhode Island governors before her, Gina Raimondo's official portrait will hold even more historic weight. As such, while it is quite prestigious, it is also quite controversial, seeing as how Rhodes was a British imperialist with very well-documented Anglo-supremacist beliefs. Gina Raimondo is the 75th Governor of Rhode Island. Gina Raimondo Biography, Career, Age, Height, Family, Wife, and Net Worth. Gina Raimondo leader of 'China Lobby', "Commerce Implements Sweeping Restrictions on Exports to Russia in Response to Further Invasion of Ukraine", "Chinese companies that aid Russia could face U.S. repercussions, commerce secretary warns", "2010 Statewide Primary General Treasurer", "2010 General Election General Treasurer", "WEDDINGS Gina Raimondo, Andrew Moffit", "About the Governor Rhode Island Office of the Governor", "Rhode Island business news: February 2022 - The Boston Globe", https://en.wikipedia.org/w/index.php?title=Gina_Raimondo&oldid=1149510522, This page was last edited on 12 April 2023, at 17:56. Gina Marie Raimondo (born May 17, 1971) is an American politician and venture capitalist who has been the 75th Governor of Rhode Island since 2015. Neera Tanden is a political consultant and serves as a senior advisor and Staff Secretary under President Joe Biden. Less than a month later, however, Bloomberg dropped out of the race and endorsed former Vice President Joe Biden. The couple has two children, a daughter named Cecilia and a son named Thompson Raimondo Moffit. [111] The couple have two children, Cecilia and Thompson Raimondo Moffit. She also led the Democratic Governors Association from 2018 to 2019. Later, Raimondo even started up the first venture capital firm in Rhode Island called Point Judith Capital, though this has since been relocated to Boston, MA. How Ms. Raimondo handles that task will have big implications for the United States economy going forward. [80] On the same day, Raimondo also endorsed Biden. As said official, she was the one who headed up the effort to reform the public employee pension system by cutting pensions. For those who are unfamiliar, payday loans see high interest charged on small principals that are meant to be repaid when the borrower receives their next paycheck, thus explaining their name. You may opt-out by. [75], With Piccola's departure, the interim director is DCYF executive legal counsel Kevin Aucoin. During this period, she specialized in health care investments. "Gina M. Raimondo Sworn in as 40th U.S. Secretary of Commerce. [100], In September 2021, Raimondo accused China of violating the intellectual property (IP) rights of U.S. companies, and stated that the Chinese government has put in place "all kinds of different barriers for American companies to do business in China. In particular, critics say that the Commerce Department has issued too many special licenses that offer companies exemptions to the restrictions on selling to China. China has responded angrily, with its leader, Xi Jinping, criticizing what he called politicizing and weaponizing economic and trade ties during a meeting with President Biden this month, according to the official Chinese summary of his comments. ", U.S. Department of Commerce. Raimondo was the first female governor of Rhode Island,[52] and was one of nine incumbent female governors in the United States at time of her resignation. 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. It seems safe to say that Raimondo has a strong interest in economic matters. She believes that the recent crises that America has suffered make this mission of the Commerce Department even more important and that growing economic opportunity for workers and businesses has been the focal point of her career. [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. [40] The program officially launched on April 23, 2012. As the United States embarks on its biggest foray into industrial policy since World War II, Ms. Raimondo has the responsibility of doling out a stunning amount of money to states, research institutions and companies like SkyWater. 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. Second, she has both a Master of Arts and a Doctor of Philosophy in Sociology from New College, which is one of the constituent colleges of the University of Oxford. She raised the state minimum wage to $11.50, created a sick-leave entitlement, financed the largest infrastructure program in the state's history, and made community colleges tuition-free. 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. Raimondo's husband, Andy Moffit, is the chief people officer at PathAI, a Massachusetts-based artificial intelligence firm backed in part by Danhua Capital, the Washington Free Beacon reported. "U.S. Department of Commerce. Time will tell how this reopening plan will fare, seeing as how Rhode Island has also been the site of protests over police brutality. Additionally, Gina has a Juris Doctor degree, which she earned from Yale Law School in 1998. As the General Treasurer of Rhode Island, Raimondo pushed for payday lending reform as well. The 40th California governor, Gavin Newsom, also has a decent net worth. Colleagues and a family member describe her as having little aversion to conflict and say she is drawn to messy policy problems by an impulse to fix them. Identities Podcasts People Ai. [6] Reelected in 2018, Raimondo was tasked with overseeing the state's initial response to the COVID-19 pandemic. In addition to this, she aids in developing policies regarding technology and climate change. Last year, Moffit switched jobs to became chief people officer of a company named PathAI, which is developing technology to help diagnose and treat diseases. 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. Until 2011, she was an administrator of Women and Infants Hospital and chair of its Quality Committee. Donald Trumps commerce secretary, Wilbur Ross, was worth an estimated $600 million. Critics of the Biden administrations plans have noted that the federal government may not be the best judge of which technologies to back. 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. Identities / Gina Marie Raimondo - Gina Raimondo . Image: Gina Raimondo has a net worth of at least $5 million. She cofounded and served as a general partner of Point . from Yale Law School. 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. [76] Aucoin has served in an interim director capacity twice before when DCYF was without a permanent director. The year she got her law degree, she began clerking under Kimba Wood, a federal judge for the Southern District of New York. Investments included a communications-tower company named Optasite, a healthcare firm called MedOptions and a Rhode Island beer business known as Narragansett Brewing, according to a confidential Point Judith presentation released through a public records request. [32] Describing the position of general treasurer as a professional job, not a political job", Raimondo announced her candidacy for the position, her first campaign for elected office. Many view the effort as the best and only bet for the United States to position itself in industries of the future, like artificial intelligence and supercomputing, and ensure that the country has a secure supply of the chips necessary for national security. Look at Gina Raimondo", "Could Rhode Island's Gina Raimondo Be the Next Centrist Democrat to Fall? [46] On November 4, 2014, Raimondo won the general election with 41% of the vote in a three-way race versus Republican Allan Fung and Moderate Party nominee Robert J. jack gee, jr Uncategorized. Raimondo completed Ballotpedia's Candidate Connection survey in 2018. Raimondo went on to graduate with honors from Harvard, where she was recognized as the top economics student in her class. Her mother had shone in a job in human relations at U.S. Rubber, Ms. Raimondo said, but she was dismissed when she became pregnant, a common policy at the time. Ms. Raimondo beamed as she greeted. [6] She was subsequently elected as chair of the DGA in 2019. It is interesting to note that Raimondo was a Rhodes Scholar. The same year, she became the recipient of the Yale Law School Lifetime Achievement Award. Barack Obamas secretary of commerce, Penny Pritzker, was worth more than $2 billion when she served in office. In particular, she mentioned lowering the maximum interest rate allowed on payday loans in Rhode Island. On the orders of Raimondo, the UHIP launch occurred as planned despite these federal warnings. Dont miss to subscribe to our new feeds, kindly fill the form below. They should not come from a notoriously glitchy computer system. . Gina Raimondo as his commerce secretary. [20][21] She went on to Harvard College, graduating magna cum laude in 1993 with a Bachelor of Arts degree in economics. 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. Those criticisms have been fanned by rumors in recent months that the White House is considering Ms. Raimondo to serve as the next Treasury secretary if Janet L. Yellen, the current occupant of that post, eventually steps down. It produced mediocre returns, averaging 5.4% annually, according to state records. 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. [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. [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. Healey.[47]. Raimondo warns US is far from resolving chip shortage", "Chip shortage is economic and national security problem, Commerce secretary says", "Commerce Secretary Gina Raimondo Calls For The U.S. To Counter China's Economic Power", "Tom Cotton calls Commerce Sec. Raimondo is expected to join President-elect Joe Biden's cabinet as Secretary of Commerce. [83][84], On January 7, 2021, Biden announced he would nominate Raimondo to serve as his Secretary of Commerce. The significance of these closures would resonate when Ms. Raimondo studied economics as an undergraduate at Harvard, where her professors fed her a steady diet of how trickle-down Reaganomics had hollowed out the U.S. economy, she said. She serves as the vice-chair of the board of directors of Crossroads Rhode Island. After being nominated by then-President-elect Joe Biden in January of 2020, she was confirmed by the U.S. Senate on March 2, 2021, and was sworn into office on March 3. You can learn more about the standards we follow in producing accurate, unbiased content in our. During the time of the marriage, the couple worked in New York. did jason donofrio married amelia. Between assuming office and the end of 2019, Raimondo consistently ranked towards the bottom of approval ratings for all governors in the United States. 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. Was it impactful? she asked. While the scale of the task is daunting, it so far has not fazed Ms. Raimondo. Curiously, Raimondo made the choice to support Mike Bloombergs campaign to become the Democratic nominee for the presidential election. She was also the first female governor of Rhode Island. During her time as Governor, Secretary Raimondo kick-started the state's economy and made record investments in infrastructure, education, and job training. . In total, Raimondo has four degrees. 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. He became unemployed at 56 when the Bulova company decamped operations to China, shuttering the factory in Providence. [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. [9] Raimondo was named a national co-chair for the Bloomberg campaign. [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. Her tax returns reportedly showed an $889,000 payout from the investments in 2018. 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Will have big implications for the position, run for the Bloomberg campaign for the presidential election Economics! The Catholic School, where she was also the first girls allowed to attend the School... Investment Corporation, led by hedge-fund billionaire Paul tudor Jones II, served as relatively! Her expertise covers a wide range of accounting, corporate finance, taxes, lending, net! The Raimondo Administration ultimately ignored the federal government, the interim director is DCYF legal.