But Raimondo soon changed fields, electing to pursue finance. ", Ballotpedia. In response, Raimondo repealed the order aimed at New Yorkers before implementing a broader version aimed at all out-of-state travelers planning to stay in Rhode Island. While Raimondo was running Rhode Island, her husband Andy Moffit was working for McKinsey & Company, the global consultancy. [74] The federal report noted that DCYF services were "inadequate, not developed when needed, or lacked consistent monitoring". Updated: 01/07/2021 01:56 PM EST. 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. [24] Raimondo has stated that her experience working at housing and poverty clinics inspired her to attend law school. [9] Raimondo was named a national co-chair for the Bloomberg campaign. [4], In 2014, Raimondo was elected governor in a three-way contest with 41% of the vote. It seems safe to say that Raimondo has a strong interest in economic matters. It produced mediocre returns, averaging 5.4% annually, according to state records. Raimondo promised to recuse herself from matters involving her old firm. After being together for a few years, the couple got married in 2001. Copyright 2021, All Right Reserved MARRIEDCELEB. Currently, she is on her second term, having won the gubernatorial election in 2014 as well as the gubernatorial election in 2018. 2, shell enter a conflict figuring out, How am I going to fix this?. [29][30] Under Raimondo's leadership, Point Judith grew to over $100 million in assets and reportedly helped grow over twenty businesses. In fact, she was even named a national co-chair for the Bloomberg campaign, which meant a lot more than just verbal support. from Yale Law School. But [supporting Biden] is an easy decision, too." [77], During Raimondo's tenure as governor, the DCYF) has focused on shifting children from congregate settings to licensed foster homes. 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. [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. During Raimondo's tenure, the Department of Commerce sanctioned NSO Group for selling spyware technology. PROVIDENCE President-elect Joe Biden has chosen Rhode Island Gov. In 2014, Raimondo won an election to become governor. Her supporters say she could ascend to another cabinet position, run for the Senate or perhaps mount a presidential bid. She won in the general election on November 6, 2018. [91] As Secretary of Commerce, Raimondo has worked with other administration officials, such as Secretary of Homeland Security Alejandro Mayorkas, on coordinating cybersecurity policy. 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. 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. Gina Raimondo-Net Worth, Bio, Family, Facts 2022. Senior editor at Forbes, covering Donald Trump's business. [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. 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. Before Gina Raimondo became a politician, she was a venture capitalist and had also started her own firm. Donald Trumps commerce secretary, Wilbur Ross, was worth an estimated $600 million. But Ms. Raimondo has also received some criticism on that front. 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. Don't Know 4%. How Ms. Raimondo handles that task will have big implications for the United States economy going forward. Currently, she is on her second term, having won the gubernatorial election in 2014 as well as the gubernatorial election in 2018. In 2020, Raimondo picked one of her old business partners to serve as a trustee for the University of Rhode Island. Raimondo is the 40th Secretary of Commerce and was previously the governor of Rhode Island. She joined a Massachusetts-based firm called Village Ventures, which created a network of regional venture-capital funds. As has been previously reported, Janet Yellen is staying at Treasury and Gina Raimondo is staying at Commerce, Ms. Legacki wrote in an email. . "Democratic Governors Elect Governor Gina Raimondo as Next DGA Chair. 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. An illustration of a magnifying glass. Look at Gina Raimondo", "Could Rhode Island's Gina Raimondo Be the Next Centrist Democrat to Fall? The CHIPS and Science Act, signed into law on Aug. 9, 2022, supports domestic semiconductor manufacturing, research, and development, and workforce development. [18] Raimondo appointed more judges of color than any of her predecessors,[53] including Melissa A. "Meet the Contenders for Bidens Cabinet. Relatively recently, Raimondo got into a conflict with Governor Andrew Cuomo of New York because of the COVID-19 crisis. 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. President-elect Joe Biden has selected Rhode Island Gov. In 2002, she founded a venture firm called Point Judith Capital, teaming up with one of her colleagues from Village Ventures. Additionally, she receives extra remuneration of $100,000, including bonuses and personal expenses. And earlier this month, she and Moffit offloaded their house in Providence for $1.2 million. Mr. Biden and his team vetted Ms. Raimondo as a potential vice president. Gina is the youngest of three children born to parents, Josephine (mother) and Joseph Raimondo (father). Pete Buttigieg is the U.S. Secretary of Transportation. First, she has a Bachelor of Arts in Economics from Harvard University. Recently, Raimondo has been working to get rid of some of her holdings. 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. So, how much is Gina Raimondo worth at the age of 50 years old? [67] Raimondo appointed Trista Piccola as her new DCYF director in January 2017. [86] On March 1, the Senate voted 8415 in favor of cloture on the nomination, and confirmed Raimondo to the position the following day by a vote of 8415. 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. They have two children: Cecilia and Thompson. [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. Table of Contents show 1. [9], Described as a "moderate technocrat" by The Washington Post,[10] Raimondo is often characterized as a centrist within her party. In less than two years in Washington, Ms. Raimondo has emerged as one of President Bidens most trusted cabinet officials. Following the 2020 United States presidential election, Raimondo was routinely mentioned as a possible cabinet secretary in the incoming Biden Administration. [40] The program officially launched on April 23, 2012. During her tenure as governor, Raimondo implemented a program of investments in economic development, job training, tax cuts, infrastructure, and the elimination of regulations to support businesses and boost Rhode Island's economy. [36] The Rhode Island Retirement Security Act (RIRSA) was enacted by the General Assembly on November 17, 2012, with bipartisan support in both chambers. 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. During this period, she specialized in health care investments. She entered politics in 2010, when she successfully ran for the position of general treasurer of Rhode Island. Anyone can read what you share. [26][27], Raimondo returned to Rhode Island in 2000 to co-found the state's first venture capital firm, Point Judith Capital. 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 . He has a long history of political involvement on both the federal level and the state level in Washington. Gina Raimondo Biography, Career, Age, Height, Family, Wife, and Net Worth. Raimondo. Currently, Raimondo is overseeing the second phase of her reopening plan, which involves even more loosening of restrictions. [7][8] In the 2020 presidential election, Raimondo served as co-chair of Michael Bloomberg's 2020 presidential campaign. Her expertise covers a wide range of accounting, corporate finance, taxes, lending, and personal finance areas. The auditor's report found that [the contract with Deloitte] was poorly written, poorly overseen and poorly executed. After dating for a while, Gina and Andrew exchanged their wedding vows on December 1, 2001. Critics blamed it on a notable increase in the fees paid to hedge fund managers. While at Harvard, Raimondo resided in Quincy House and served on the staff of The Harvard Crimson. They should not come from a notoriously glitchy computer system. As of December 2020, 83% of all children placed in out-of-home care are placed in a foster home. ", U.S. Department of Commerce. According to her annual financial disclosure report filed in 2013 with the Rhode Island Ethics Commission, she made up to $500,000 in capital gains from her old venture capital business, dwarfing her state payment of $108,808. [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. ", Democratic Governors. [35], In May 2011, Raimondo released "Truth in Numbers", a report that advocated for benefit cuts as the solution to Rhode Island's pension problems, and she helped lead the effort to cut pensions, along with then-Speaker of the House Gordon Fox. "Rhode Island State Government Salary. [57] This result meant that Raimondo was tied with the governors of North Dakota and Utah for the 12th-highest rating.[58]. 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. Her grandfather arrived in the U.S. from Italy at the age of 14 and taught himself English in a public library. Some source claims that she might have a net worth of over $300 million, but this is all false assumptions. I have real concerns about the departments approach, whether its approving assault weapon sales, negotiating trade deals or supporting big tech companies.. [112][21], Raimondo is a member of the Council on Foreign Relations and an Aspen Institute Rodel fellow. In short, it is a New England town that encompasses a number of historic villages such as Esmond, Greenville, and Mountaindale. [41] As of November 2021, the OSIP program is currently managed by Fidelity Investments. [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. U.S. Department of Commerce. Identities / Gina Marie Raimondo - Gina Raimondo . She also co-founded her own venture capital firm, Point Judith Capital. Neera Tanden is a political consultant and serves as a senior advisor and Staff Secretary under President Joe Biden. ", Forbes. 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