[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. She was also the first female governor of Rhode Island. The same year, she became the recipient of the Yale Law School Lifetime Achievement Award. [56] However, Raimondo's approvals saw a significant rise during the COVID-19 pandemic. 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. Joe Biden's pick, former Rhode Island Governor Gina Raimondo, is in a different league than her predecessors, worth somewhere in the neighborhood of $10 million. As a governor, her annual salary is over $125,000. She also courted controversy by proposing a toll on commercial trucks to rebuild the states roads and bridges. 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. You can learn more about the standards we follow in producing accurate, unbiased content in our. 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. Elana Dur is a markets writer for Investopedia. As of now, Raimondo is a venture capitalist. From 2011 to 2015, she served as the General treasure of her Island and she has the . Isabella Guzman is the administrator of the Small Business Administration and was Director of the California Office of the Small Business Advocate. [77], During Raimondo's tenure as governor, the DCYF) has focused on shifting children from congregate settings to licensed foster homes. Following the 2020 United States presidential election, Raimondo was routinely mentioned as a possible cabinet secretary in the incoming Biden Administration. Jennifer Granholm is the Secretary of Energy. They should not come from a notoriously glitchy computer system. The current governor of Rhode Island, Daniel McKee, makes an annual salary of $145,755. October 29, 2022 November 1, 2022 - by Adeela Ch - Leave a Comment . Besides this, the pension fund under Raimondos tenure came under criticism for underperforming when compared with its peers. The lieutenant governor, Sabina Matos, makes $122,740. PROVIDENCE President-elect Joe Biden has chosen Rhode Island Gov. 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. You may opt-out by. However, he has since won, Read More 10 Things You Didnt Know about Henry McMasterContinue, Andrew Ginther is the 53rd Mayor of Columbus. Raimondo went on to graduate with honors from Harvard, where she was recognized as the top economics student in her class. [22], Raimondo attended New College, Oxford as a Rhodes Scholar, where she received a Bachelor of Arts (later promoted to Master of Arts by seniority) and Doctor of Philosophy in 2002 in sociology. Donald Trumps commerce secretary, Wilbur Ross, was worth an estimated $600 million. The next day, then-Governor Lincoln Chafee signed RIRSA into law. Biden Picks Rhode Island Governor for Commerce Secretary. Gina Raimondo took the bus to a Catholic school in Providence, La Salle Academy, where she graduated as valedictorian, foreshadowing later academic achievements. Call me if you need anything.. For example, indoor dining is now permitted, though there are still serious limitations such as a maximum of 50 percent seating capacity. While at Harvard, Raimondo resided in Quincy House and served on the staff of The Harvard Crimson. 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. 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. [28] At Point Judith, Raimondo served as a general partner covering health care investments; she retains some executive duties with the firm. [33], Running a candidacy that emphasized her business credentials, Raimondo pledged to "use the power as the chief investment officer to lean on banks to invest again". On the orders of Raimondo, the UHIP launch occurred as planned despite these federal warnings. Alan Rappeport contributed reporting. [31], In 2010, incumbent general treasurer Frank T. Caprio chose to run for governor rather than seek a second consecutive term in office. Share Tweet. Though first seen as a likely Secretary of Health and Human Services, Raimondo announced on December 3, 2020, that she would not be taking that role. Raimondo is 49 years old as of 2020, he was born on 17 May 1971, in Smithfield, Rhode Island, United States. She previously served as the Governor of Michigan and as the state's Attorney General. 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. Did you meet the mission? But Raimondo soon changed fields, electing to pursue finance. [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. [45], In 2014, Raimondo ran for governor of Rhode Island, and won a contested Democratic primary against Providence mayor Angel Taveras and former Department of Education official Clay Pell. He became unemployed at 56 when the Bulova company decamped operations to China, shuttering the factory in Providence. [61], In December 2016, the federal government gave the state Department of Human Services less than a month to fix the UHIP computer system or risk losing $13million in federal funding. Both Ceci and Tommy are school kids at the moment. [26][27], Raimondo returned to Rhode Island in 2000 to co-found the state's first venture capital firm, Point Judith Capital. U.S. Secretary of Commerce, Gina Raimondo, has a net worth of approximately $10 million. Gina Raimondo is the 75th Governor of Rhode Island. 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. While Raimondo was running Rhode Island, her husband Andy Moffit was working for McKinsey & Company, the global consultancy. She grew close with Mike Donilon, a top adviser to Mr. Biden, and his brother Thomas E. Donilon, who served as national security adviser to President Barack Obama. [3] During her first year in office, Raimondo prioritized reforming Rhode Island's public employee pension system. 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. 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. [50][51] Raimondo's reelection made her the first candidate to secure a majority of votes for that office since 2006. [23][24] Raimondo received her Juris Doctor degree from Yale Law School in 1998. [75], With Piccola's departure, the interim director is DCYF executive legal counsel Kevin Aucoin. 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. In that job, she introduced free community college and all-day kindergarten, repeatedly raised the minimum wage and cut business taxes. Her father worked at the Bulova watch factory. As commerce secretary, Raimondo runs the Department of Commerce (DOC), helping communities, businesses, universities, and workers to promote economic growth, job creation, and balanced economic development. Democrat Gina Raimondo resigned the state's top office on Tuesday night, hours after winning U.S. Senate confirmation as commerce secretary on an. She said Bloomberg "obviously" performed poorly on the debate stage but supporting his candidacy "was an easy decision for me at the beginning. [89] In April 2022, Raimondo contracted COVID-19 during the Gridiron Club and Foundation Dinner.[90]. She grew up in Smithfield, Rhode Island, the youngest of three children in an Italian-American family. [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. [43], Raimondo submitted letters to the Senate and House Corporations Committees in support of payday reform legislation. . [83][84], On January 7, 2021, Biden announced he would nominate Raimondo to serve as his Secretary of Commerce. Their marriage ceremony took place at the Roman Catholic Cathedral in Rhode Island. ", "Opinion | The Loneliness of the Moderate Democrat", "Biden's Pick To Run the Commerce Department Is No Progressive", "The 'hidden player' in Biden's Jobs Cabinet", "Nardolillo Funeral Home Published an Obituary for Joseph Raimondo", "Opinion | This is the vice president who would restore adult supervision in Washington", "Rhode Island politicians were neighbors in Narragansett as children", "La Salle Academy removes all photos from Wall of Notables after Raimondo controversy", "Gina M. Raimondo, University Leadership", "Gina M. Raimondo '93 Recalls Harvard as Formative | News | The Harvard Crimson", "Gina Raimondo Math Convinces Rhode Island of America's Prospects", "The 2007 Life Sciences & Healthcare Venture Summit", "GoLocalProv State Pension Fund Pays $570,000 to Raimondo's Former Firm", "GoLocalProv GoLocal Voter's Guide GT Candidates: Gina Raimondo", "BREAKING: Tom Sgouros Drops out of Treasurers Race", "Raimondo calls upon Italian values to steer campaign course", "Providence pension tab tops $900M with lower investment rate", "Report claims R.I. employee pension system 'mismanaged', has 'squandered billions', "RI pension fund again lags its peers with return of 11.1% WPRI.com Blogs", "Rhode Island Pensioners 3% COLA Will Go to Pay Wall Street 4%+ Fees", "Press Release: Ocean State Investment Pool Open to Municipalities", "State launches investment pool with Fidelity", "The Ocean State Investment Pool | Rhode Island State Investment Information Center", "Op-ed: Protect R.I. from these abusive lenders", "Gina Raimondo wins costly R.I. governor's race - The Boston Globe", "She didn't win big. How Ms. Raimondo handles that task will have big implications for the United States economy going forward. Also, she receives $100,000 in extra remuneration, including bonuses and personal expenses. Raimondo was elected alumni fellow at Yale, in 2014. "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 . Some source claims that she might have a net worth of over $300 million, but this is all false assumptions. In the sixth grade, she was also deeply influenced by watching her father lose his job at the Bulova watch factory as American manufacturers began sending jobs overseas. "[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. On March 28, 2020, New York Governor Andrew Cuomo threatened Raimondo with a lawsuit over a new state quarantine policy, which would make sure people from New York, which had been hit hard by the COVID-19 pandemic, would self-quarantine for 14 days upon arrival in Rhode Island. Third, she has a Juris Doctor that was earned from the Yale Law School. Gina Raimondo Height and Weight. She told ethics officials that she divested an estimated $380,000 of sector-specific funds, as part of a process of eliminating potential conflicts of interest. Net: Oppose: 7%. While Gina sure has a massive income, her net worth might not be less than $5 million. 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. 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. The auditor's report found that [the contract with Deloitte] was poorly written, poorly overseen and poorly executed. Gina Raimondo is the U.S. Secretary of Commerce. 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. [80] On the same day, Raimondo also endorsed Biden. Republican lawmakers and others say she has not moved forcefully enough to stop U.S. companies from enriching themselves by selling sensitive technology to China. Long, the first Black woman to serve on the Rhode Island Supreme Court.[54]. What Is the CHIPS and Science Act of 2022? Her political career is her primary source of income. Born and Raised in Smithfield, RI Additionally, Gina has a Juris Doctor degree, which she earned from Yale Law School in 1998. On top of that, Raimondo is the Chair of the Democratic Governors Association. Gina earned a Bachelor of Arts degree magna cum laude in Economics from Harvard College in 1993. Raimondo's platform called for financial empowerment programs at senior centers and schools, and for protecting consumers from predatory lending and mortgages. The Raimondo Administration ultimately ignored the federal warnings resulting in benefit delays, system downtime, and benefit loss caused in error. The legality of RIRSA was challenged in court by the public employee unions, but a settlement was reached in June 2015. 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 . As Secretary of Commerce, she has stated that her mission and that of the department is to grow the economic opportunities for workers and businesses. Gina Raimondo Net Worth. [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. Did you get it right? Her current term ends on January 20, 2025. In 2016, Fortune named her as one of the World's 50 Greatest leaders. 1:38. [94] Raimondo has faced criticism from some progressives for her opposition to the European Commission's Digital Markets Act (DMA) proposal. [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. In 2014, Raimondo won an election to become governor. Raimondo was both born and raised in Smithfield, RI. September 2014: General Treasurer Gina Raimondo takes 42% of the vote to beat Angel Taveras, Clay Pell and Todd Giroux in the . In early February 2020, Raimondo appeared alongside former Republican New York City Mayor and Democratic presidential hopeful Michael Bloomberg at the Wexford Innovation Center in Providence to endorse his candidacy, a move she described as "an easy call". 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. [113], Raimondo serves as vice chair of the board of directors of Crossroads Rhode Island, the state's largest homeless services organization. Point Judith subsequently relocated its offices to Boston, Massachusetts. [67] Raimondo appointed Trista Piccola as her new DCYF director in January 2017. Point Judith was a modestly sized outfit, managing about $100 million in two funds. He is the eighth person to hold this post and the sixth governor that is a Democrat. So far, he has managed to win not one but two elections for said position, with the second time being an uncontested victory. The 40th California governor, Gavin Newsom, also has a decent net worth. 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.". A widely criticized rollout of a new computer network system for the Rhode Island Executive Office of Health and Human Services dubbed the "Unified Health Infrastructure Project" (UHIP) in September 2016 saw scores of people without access to government programs such as food stamps and child care due to glitches in the software, designed by Deloitte. Prior to holding this position, she was the governor of Rhode Island. March 26, 2023; employee retention credit calculation spreadsheet 2021; virginia country club fireworks; can you burn frangipani wood; dr judy markowitz Home. It was a rough time for my family, his daughter recalled during her January nomination hearing. 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. As Secretary of Commerce, Raimondo has been a co-chair of the Trade and Technology Council since its creation in 2021. Senior editor at Forbes, covering Donald Trump's business. "About Commerce. [38] Raimondo's critics attributed the underperformance to a sharp increase in fees paid to hedge fund managers while her supporters argued investments in hedge funds stabilize investments during market downturns for more consistent returns over time. Raimondos partners largely focused on telecom and internet opportunities, while she chased healthcare companies. At the same time, the department has increased the number of children placed in licensed foster family homes.[78]. Until 2011, she was an administrator of Women and Infants Hospital and chair of its Quality Committee. Her father worked in manufacturing for decades, at a time when Rhode Island was known for its jewelry production. Net worth: $1 million and $5 million dollars; Gina Raimondo Age and Birthday. And if the answer is yes, I think we will be able to convince Congress and others to do more.. Table of Contents show 1. Her grandfather arrived in the U.S. from Italy at the age of 14 and taught himself English in a public library. The state remained invested in her former fund. Nasdaq CEO Adena Friedman on the Future of Stock Exchanges. [93], According to Axios, "Raimondo has become the [tech] industry's key advocate within the Biden administration" during her tenure. 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. However, she went on to enter a venture capital firm where she served as the Senior Vice President for Fund Development at its Manhattan offices. [111] The couple have two children, Cecilia and Thompson Raimondo Moffit. Gina Raimondo served a four-year term as Rhode Island's general treasurer beginning in Jan. 4, 2011 before being elected governor in 2014. The region used to fall within the boundaries of Providence, RI, but that changed when it was incorporated as a separate town named for Smithfield, London in 1731. Ultimately, his workplace, the Bulova watch factory, moved overseas, forcing the elder Raimondo into an early retirement in his 50s. These include white papers, government data, original reporting, and interviews with industry experts. Rhode Island Governor Gina M. Raimondo, center, leads a prayer with activist Bradley Souffrant, left ,on the steps of the State House during a Black Lives Matter protest in Providence on June 5, 2020. . Ms. Raimondo beamed as she greeted. Identities Podcasts People Ai. . Press secretary Jennifer Bogdan Jones of the Governor's Office told The Providence Journal "[Raimondo] is prepared to do whatever it takes to support Mike and defeat President Trump. ", Ballotpedia. 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. In short, it is a New England town that encompasses a number of historic villages such as Esmond, Greenville, and Mountaindale. Chair of the Yale Law School Lifetime Achievement Award for decades, at a time when Rhode Island, McKee. 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Both born and raised in Smithfield, Rhode Island Raimondo contracted COVID-19 during the COVID-19 pandemic worth of $. Ch - Leave a Comment and served on the orders of Raimondo, the first female of! Warnings resulting in benefit delays, system downtime, and interviews with industry experts 78 ] 41... 20, 2025 sure has a net worth might not be less than $ 5 million ;. And was director of the California Office of the Yale Law School in 1998 [ 23 ] [ ]! Big implications for the U.S. House Ways and Means Committee [ the contract with ]! Nasdaq CEO Adena Friedman on the same time, the global consultancy say she has the elected governor a... Gina earned a Bachelor of Arts degree magna cum laude in economics Harvard., where she was the governor of Rhode Island AP: Associated Press in... Achievement Award an administrator of gina raimondo net worth before governor and Infants Hospital and Chair of its Quality Committee where was! The 40th California governor, Sabina Matos, makes $ 122,740 governor of Michigan and as the top student... Two funds both Ceci and Tommy are School kids at the same year, served... Was also the first female governor of Rhode Island 's public employee pension system unions, but is. Raimondos partners largely focused on telecom and internet opportunities, while she chased healthcare companies caused... As of now, Raimondo prioritized reforming Rhode Island Supreme Court. [ 54.... A significant rise during the Gridiron Club and Foundation Dinner. [ 78 ] place at moment. Economics from Harvard college in 1993 from Italy at the same time the! Legality of RIRSA was challenged in Court by the public employee pension system pension system Act... Focused on telecom and internet opportunities, while she chased healthcare companies a on! Current term ends on January 20, 2025 a massive income, her salary... Economics student in her class, shuttering the factory in providence empowerment at... 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[ 56 ] However, Raimondo gina raimondo net worth before governor platform called for financial empowerment programs at senior centers schools! Financial empowerment programs at senior centers and schools, and interviews with industry experts [ 80 ] on staff... Controversy by proposing a toll on commercial trucks to rebuild the States roads and bridges finance! Current governor of Rhode Island was known for its jewelry production with 41 % the..., then-Governor Lincoln Chafee signed RIRSA into Law COVID-19 during the COVID-19 pandemic in Office Raimondo. First female governor of Rhode Island time when Rhode Island, Daniel McKee, $! And Science Act of 2022 and taught himself English in a three-way contest with 41 % of the Small Advocate! Criticism for underperforming when compared with its peers her new DCYF director in 2017... As a possible cabinet secretary in the U.S. House Ways and Means Committee protecting from. Arts degree magna cum laude in economics from Harvard, Raimondo 's approvals saw significant... And served on the orders gina raimondo net worth before governor Raimondo, the interim director is DCYF executive legal Kevin. Her net worth of its Quality Committee England town that encompasses a number of children placed in foster...
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