The U.S. Department of Commerce "promotes job creation, economic growth, sustainable development, and improved standards of living for all Americans by working in partnership with businesses, universities, communities, and our nation's workers.". Were super excited about the Indiana announcement, she said. At the same time, the administration is choking off Beijings access to advanced chips and other technology critical to Chinas military and economic ambitions. Gina has been longtime married to her husband, Andrew Kind Moffit. She was elected as the states first female governor in 2014. Raimondo is the 40th Secretary of Commerce and was previously the governor of Rhode Island. 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. We cannot snuff that out.. Until 2011, she was an administrator of Women and Infants Hospital and chair of its Quality Committee. Her expertise covers a wide range of accounting, corporate finance, taxes, lending, and personal finance areas. Gina Raimondo Gina's net worth as of 2022 is $300 million. Senior editor at Forbes, covering Donald Trump's business. While the department is well known for its role in promoting business, it has an increasingly important role in regulating it by policing the kind of advanced technology that U.S. firms can share with China, Russia and other geopolitical rivals. 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. Company executives describe her as a skillful and charismatic politician who is both engaged and accessible in an administration often known for its skepticism of big business. Don't Know 4%. gina raimondo husband net worth. Ms. Raimondo says she is eager to lead the Commerce Department through its next chapter as it tries to build up Americas manufacturing sector. In addition to this, she aids in developing policies regarding technology and climate change. 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. [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. She was awarded an honorary degree from Bryant University, in 2012; and has received awards from the northern Rhode Island chamber of commerce and the YWCA of northern Rhode Island. Neera Tanden is a political consultant and serves as a senior advisor and Staff Secretary under President Joe Biden. A line drawing of the Internet Archive headquarters building faade. "[64], According to documents submitted to the federal government, the cost estimate for UHIP through 2021 is $656million. 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. The incoming administration will select Gina M. Raimondo, a moderate Democrat, to guide a sprawling department critical to business and . [3] During her first year in office, Raimondo prioritized reforming Rhode Island's public employee pension system. CreditJared Soares for The New York Times. [89] In April 2022, Raimondo contracted COVID-19 during the Gridiron Club and Foundation Dinner.[90]. Messner opined that "Launching a system without having conducted a live pilot is against the intent of the regulations and against our best advice." In 2014, Raimondo won an election to become governor. I have real concerns about the departments approach, whether its approving assault weapon sales, negotiating trade deals or supporting big tech companies.. The same year, she became the recipient of the Yale Law School Lifetime Achievement Award. She has served on the boards of La Salle Academy and Family Service of Rhode Island. [75], With Piccola's departure, the interim director is DCYF executive legal counsel Kevin Aucoin. While the scale of the task is daunting, it so far has not fazed Ms. Raimondo. She said Bloomberg "obviously" performed poorly on the debate stage but supporting his candidacy "was an easy decision for me at the beginning. She went to Harvard, then Oxford as a Rhodes Scholar, then Yale Law School. Additionally, Gina has a Juris Doctor degree, which she earned from Yale Law School in 1998. "Democratic Governors Elect Governor Gina Raimondo as Next DGA Chair. In 2016, 18-wheel trucks circled Rhode Islands State House for months, blasting their horns in protest and rattling the nerves of Ms. Raimondos staff. announced a cybersecurity review of Micron Technology, cost Germany billions in government subsidies, Heres what the program aims to do and how it will work, power of the federal government to transform private industry, made changes to shore up the states pension system, investments in advanced technology in China. "Gina M. Raimondo Sworn in as 40th U.S. Secretary of Commerce. She is the former trustee at Women and Infants Hospital and Chair of its Quality Committee. [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. "Meet the Contenders for Bidens Cabinet. [93], According to Axios, "Raimondo has become the [tech] industry's key advocate within the Biden administration" during her tenure. The next day, then-Governor Lincoln Chafee signed RIRSA into law. She is the first woman to have been elected in the role, which she stepped into in 2015. 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. Also learn detailed information about Current Net worth as well as Gina Raimondo's earnings, Worth, Salary, Property, and Income. In 2002, she founded a venture firm called Point Judith Capital, teaming up with one of her colleagues from Village Ventures. The current governor of Rhode Island, Daniel McKee, makes an annual salary of $145,755. Share Tweet. In total, Raimondo has four degrees. Ms. Raimondo, second from right, toured a Samsung semiconductor factory in Pyeongtaek, South Korea, with Mr. Biden in May. 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. Following the 2020 United States presidential election, Raimondo was routinely mentioned as a possible cabinet secretary in the incoming Biden Administration. Barack Obamas secretary of commerce, Penny Pritzker, was worth more than $2 billion when she served in office. 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. $500 million in funds could be eligible for the program, which would enable Treasury "to extend its expertise to municipalities and improve investment returns by creating economies of scale". [82] She was also considered for Secretary of the Treasury. [112][21], Raimondo is a member of the Council on Foreign Relations and an Aspen Institute Rodel fellow. 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. Likewise, Moffit worked as an associate for a management consulting firm, McKinsey & Company, in New York. [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. 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 . "[44] Raimondo wrote an op-ed in the edition of May 29, 2012 of The Providence Journal in support of payday lending reform. This is a BETA experience. [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". [25], Following her graduation from law school, Raimondo served as a law clerk to federal judge Kimba Wood of the United States District Court for the Southern District of New York. Here's How Much Treasury Secretary Janet Yellen Is Worth, Here's How Much Secretary Of Defense Lloyd Austin Is Worth, Here's How Much Secretary Of Homeland Security Alejandro Mayorkas Is Worth, How Pete Buttigieg Cashed In On His Candidacy, Heres How Much Treasury Secretary Janet Yellen Is Worth, Heres How Much HHS Secretary Xavier Becerra Is Worth. However, she has also raised the minimum wage to $11.50, provided free tuition at community colleges, and financed the single biggest infrastructure program in her states history. You may opt-out by. During her time as Governor, Secretary Raimondo kick-started the state's economy and made record investments in infrastructure, education, and job training. [7][8] In the 2020 presidential election, Raimondo served as co-chair of Michael Bloomberg's 2020 presidential campaign. 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. Gina M. Raimondo, the 75th Governor of Rhode Island and its first woman governor, grew up in Smithfield in a tight-knit Italian-American family, the youngest of Joseph and Josephine Raimondo's three children. Gina Raimondo Net Worth The estimated net worth of Gina Marie is around $5 million. Rhode Island Gov. 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.". Also, a venture capitalist, Gina is one of the nine current female governors of the United States. 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. 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. Raimondo went on to graduate with honors from Harvard, where she was recognized as the top economics student in her class. The auditor's report found that [the contract with Deloitte] was poorly written, poorly overseen and poorly executed. The job was a source of pride for her father and allowed him to provide for his family, and the loss sent him into a funk for years, Ms. Raimondo said in an interview. They have two children: Cecilia and Thompson. As of now, Raimondo is a venture capitalist. In an interview, Ms. Raimondo said that the claim was just not true and that exemptions were based on technical specifications, not political considerations. [41] As of November 2021, the OSIP program is currently managed by Fidelity Investments. 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. Gina's net worth as of 2022 is $300 million. [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. Prior to holding this position, she was the governor of Rhode Island. 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. 7. So, how much is Gina Raimondo worth at the age of 50 years old? At the moment she is serving as the 40th US Secretary of Commerce. As a governor, her annual salary is over $125,000. Investopedia requires writers to use primary sources to support their work. Currently, Raimondo is overseeing the second phase of her reopening plan, which involves even more loosening of restrictions. [9] Raimondo was named a national co-chair for the Bloomberg campaign. Relatively recently, Raimondo got into a conflict with Governor Andrew Cuomo of New York because of the COVID-19 crisis. Pete Buttigieg is the U.S. Secretary of Transportation. Also, she receives $100,000 in extra remuneration, including bonuses and personal expenses. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Americans want to make money and feel like they can make money., She added: American entrepreneurship is the envy of the world. Her net worth has been growing significantly in 2020-2021. It seems safe to say that Raimondo has a strong interest in economic matters. They should not come from a notoriously glitchy computer system. . [6] Reelected in 2018, Raimondo was tasked with overseeing the state's initial response to the COVID-19 pandemic. At the same time, the department has increased the number of children placed in licensed foster family homes.[78]. Both Ceci and Tommy are school kids at the moment. Kitty Bennett contributed research. Gina Raimondo is the 75th Governor of 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. 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. Strongly Oppose: 3%. In less than two years in Washington, Ms. Raimondo has emerged as one of President Bidens most trusted cabinet officials. Gina Raimondo is the current U.S. Secretary of Commerce, coming to the position under President Joe Biden. He has a long history of political involvement on both the federal level and the state level in Washington. Updated: 01/07/2021 01:56 PM EST. We pulled all the plugs to make sure this was a failure. Something that prompted her to throw her support behind Joe Bidens campaign on the same day that Bloomberg did the same. Tudor Investment Corporation, led by hedge-fund billionaire Paul Tudor Jones II, served as an investor and partner, according to the presentation. Jennifer Granholm is the Secretary of Energy. [88] In August 2021, Politico reported that Raimondo has become one of the "administration's secret weapons on the Hill" due to her role in negotiating the Infrastructure Investment and Jobs Act. "U.S. Department of Commerce. [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. For example, she has cut a lot of taxes as well as removed a lot of regulations. [60] The Raimondo Administration received several letters from the federal government in August and September 2016 warning that UHIP was not ready to be launched. October 29, 2022 November 1, 2022 - by Adeela Ch - Leave a Comment . In response, U.S. Food and Nutrition Service's Northeast Regional Administrator, Kurt Messner, urged Raimondo to postpone the launch because it would interrupt or interfere with benefits the agency oversees. 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. [40] The program officially launched on April 23, 2012. 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. As of 2022, the governor of Rhode Island is Daniel McKee. Apart from politics, Gina is active in social works as well. But unlike some progressive Democrats, Ms. Raimondo clearly does not see an issue with being labeled pro-business., I come from a place in my politics that, fundamentally, Americans are pro-job, pro-business, pro-wealth, she said. What Is the CHIPS and Science Act of 2022? We also reference original research from other reputable publishers where appropriate. Raimondo stayed in that job for about three years, before deciding to return home to Rhode Island to start her own shop. The legality of RIRSA was challenged in court by the public employee unions, but a settlement was reached in June 2015. ", U.S. Department of Commerce. Currently, she is on her second term, having won the gubernatorial election in 2014 as well as the gubernatorial election in 2018. Healey.[47]. Did you meet the mission? But Raimondo soon changed fields, electing to pursue finance. [19], Raimondo graduated from LaSalle Academy in Providence. During this period, she specialized in health care investments. She also courted controversy by proposing a toll on commercial trucks to rebuild the states roads and bridges. [31] In April 2010, former Democratic primary opponent Tom Sgouros dropped out of the race and endorsed Raimondo, leaving her as the only Democratic candidate. She received a Master of Arts and Doctor of Philosophy in Sociology. By Alexa Gagosz Globe Staff, Updated May 6, 2021, 11:27 a.m . Ms. Raimondos work has earned her praise from Republicans and Democrats, along with labor unions and corporations. Mr. Biden, then vice president, came to her defense. Before her career in public office, Raimondo was a founding employee at investment firm Village Ventures, and also co-founded her own venture capital firm, Point Judith Capital. He succeeded his predecessor Governor Nikki Haley when she resigned for the purpose of becoming the U.S. ", Forbes. It produced mediocre returns, averaging 5.4% annually, according to state records. 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. Andy Moffit and his wife, Gina Raimondo, met while studying at Oxford University in the UK. 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. Was it impactful? she asked. 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. Gina Raimondo is the 40th U.S. Secretary of Commerce, chosen by President Biden. Additionally, she receives extra remuneration of $100,000, including bonuses and personal expenses. Raimondo ( Democratic Party) ran for re-election for Governor of Rhode Island. In 2010, Raimondo defeated her Republican opponent Kernan King to become the General Treasurer of Rhode Island. In 2016, Fortune named her as one of the World's 50 Greatest leaders. [96] In March 2022, Warren accused Raimondo "lobbying on behalf of Big Tech". Raimondo completed Ballotpedia's Candidate Connection survey in 2018. 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. The governor is now getting . These include white papers, government data, original reporting, and interviews with industry experts. [9], Described as a "moderate technocrat" by The Washington Post,[10] Raimondo is often characterized as a centrist within her party. "[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. Like Gina, Nikki Haley is the first female governor of South Carolina. 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. Though there have been 74 Rhode Island governors before her, Gina Raimondo's official portrait will hold even more historic weight. Net worth: $1 million and $5 million dollars; Gina Raimondo Age and Birthday. U.S. Department of Commerce. Senator Jack Reed. Gina Raimondo's net worth is estimated to be around $300 million USD . Her efforts seem to have paid off in at least one regard, seeing as how Rhode Islands unemployment rate is now in line with the national average rather than the highest in the United States. In May 2020, writer George Will wrote in favor of Raimondo being chosen as Biden's running mate in the 2020 election. [57] This result meant that Raimondo was tied with the governors of North Dakota and Utah for the 12th-highest rating.[58]. "[79] As campaign co-chair, Raimondo would have "provided advice and attended events". As has been previously reported, Janet Yellen is staying at Treasury and Gina Raimondo is staying at Commerce, Ms. Legacki wrote in an email. [102], Following the 2022 Russian invasion of Ukraine, the Department of Commerce under Raimondo implemented export controls in order to restrict Russia's access to military technology. 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. 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". As her department turns to funding semiconductor projects, Ms. Raimondo has promised to use tough standards to evaluate company applications, including prohibiting money from being used for stock buybacks or to make investments in advanced technology in China. 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. These days, Ms. Raimondo, a former Rhode Island governor, is the most important phone call in Washington that many chief executives can make. 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. interests. State taxpayers will pay $154million of this amount while the federal government will pay the remainder. She was also the first female governor of Rhode Island. 6. Previously he was the mayor of South Bend, Indiana and a 2020 presidential candidate. 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 learn more about the standards we follow in producing accurate, unbiased content in our. Gina Raimondo and Andrew Moffit married in 2001. 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. 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. Check out Gina Raimondo's net worth in US Dollar Mar, 2023. 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. For example, indoor dining is now permitted, though there are still serious limitations such as a maximum of 50 percent seating capacity. PROVIDENCE President-elect Joe Biden has chosen Rhode Island Gov. [98][99] Raimondo has argued that the chip shortage presents a national and economic security threat to U.S. She covered shareholder activism as a reporter at Reorg and Activist Insight and her work has been published in The Washington Post, Chicago Tribune, and The Jerusalem Post. 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. Isabella Guzman is the administrator of the Small Business Administration and was Director of the California Office of the Small Business Advocate. "Gina M. [111] The couple have two children, Cecilia and Thompson Raimondo Moffit. Point Judith was a modestly sized outfit, managing about $100 million in two funds. Recently, Raimondo is a member of the task is daunting, it so has! Reforming Rhode Island is Daniel McKee, makes an annual salary of $ 100,000 in extra,. 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Same time, the department has increased the number of children placed in licensed Family...

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