Having said that, Raimondos support seems to have been ill-timed, seeing as how Bloomberg dropped out of the race less than a month later. 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. In less than two years in Washington, Ms. Raimondo has emerged as one of President Bidens most trusted cabinet officials. Copyright 2021, All Right Reserved MARRIEDCELEB. Identities / Gina Marie Raimondo - Gina Raimondo . Gina's net worth as of 2022 is $300 million. Gina Raimondo is the 40th U.S. Secretary of Commerce, chosen by President Biden. 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. 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. "[66], Under Raimondo, the Rhode Island Department of Children, Youth & Families (DCYF) had come under fire for the rate of deaths and near-deaths of children in its care. The Raimondo Administration ultimately ignored the federal warnings resulting in benefit delays, system downtime, and benefit loss caused in error. 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. [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. Did you meet the mission? She was one of the first girls allowed to attend the Catholic school, where she graduated as valedictorian. 1:38. 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. 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. PROVIDENCE President-elect Joe Biden has chosen Rhode Island Gov. The family resides on the east side of Providence. 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. ", Ballotpedia. Gina Raimondo is the 75th Governor of Rhode Island. In 2020, Raimondo picked one of her old business partners to serve as a trustee for the University of Rhode Island. [97], As Secretary of Commerce, Raimondo has helped lead the U.S. response to the global chip shortage, and has urged Congress to pass legislation that would boost domestic semiconductor manufacturing. In an interview, House Oversight Chair Patricia Serpa (D-West Warwick) said, "There's plenty of blame to go around. In February, her department moved swiftly with allies to clamp down on technology shipments to Russia following its invasion of Ukraine. [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. Joe Bidens pick, former Rhode Island Governor Gina Raimondo, is in a different league than her predecessors, worth somewhere in the neighborhood of $10 million. [85] She appeared before the Senate Committee on Commerce, Science and Transportation on January 26. While Raimondo was running Rhode Island, her husband Andy Moffit was working for McKinsey & Company, the global consultancy. 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. But the risks are similarly huge. [3] During her first year in office, Raimondo prioritized reforming Rhode Island's public employee pension system. ", Forbes. [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. [63], In March 2017, Rhode Island Monthly reported that the U.S. Department of Justice opened an investigation into UHIP, specifically false claims and statements made about the Health and Human Services computer network rollout. Point Judith subsequently relocated its offices to Boston, Massachusetts. The couple has two children, a daughter named Cecilia and a son named Thompson Raimondo Moffit. Healey.[47]. The State of Rhode Island invested $5 million in one of Raimondo's funds around 2006. Net worth: $1 million and $5 million dollars; Gina Raimondo Age and Birthday. Their marriage ceremony took place at the Roman Catholic Cathedral in Rhode Island. 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. Secretary Raimondos job is to help grow an economy that works for everyone, not to be the chief lobbyist for the Chamber of Commerce, Ms. Warren said in a statement to The New York Times. Gina Raimondo Net Worth. The investigation was still underway as of summer 2017. As of December 2020, 83% of all children placed in out-of-home care are placed in a foster home. The $45 billion investment in affordable, reliable high-speed internet access will be administered and implemented by the U.S. Department of Commerce's National Telecommunications and Information . [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. Third, she has a Juris Doctor that was earned from the Yale Law School. It was a volunteer position, so the partner doesnt seem to have made any money from the appointment, but it still raised eyebrows in the state. [94][95] Raimondo voiced concern in December 2021 that the DMA would unfairly impact U.S.-based tech companies such as Google and Apple. After all, she has made a lot of changes in this regard ever since she became the Governor of Rhode Island. [23][24] Raimondo received her Juris Doctor degree from Yale Law School in 1998. Their assets now largely consist of benign holdings like diversified stock funds, bond funds and cash. September 2014: General Treasurer Gina Raimondo takes 42% of the vote to beat Angel Taveras, Clay Pell and Todd Giroux in the . Ms. Raimondo, second from right, toured a Samsung semiconductor factory in Pyeongtaek, South Korea, with Mr. Biden in May. Democrat Gina Raimondo resigned the state's top office on Tuesday night, hours after winning U.S. Senate confirmation as commerce secretary on an. What is Gina Raimondo's net worth? 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. Raimondo went on to graduate with honors from Harvard, where she was recognized as the top economics student in her class. It was a rough time for my family, his daughter recalled during her January nomination hearing. 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. Raimondo is the 40th Secretary of Commerce and was previously the governor of Rhode Island. They should not come from a notoriously glitchy computer system. 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. Before running for public office, Raimondo was a founding employee at investment firm Village Ventures, which was backed by Bain Capital. Don't Know 4%. 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. [111] The couple have two children, Cecilia and Thompson Raimondo Moffit. Before becoming a politician, Raimondo worked at venture firms. [48][49] In 2018, Raimondo ran for reelection, defeating former secretary of state Matt Brown in the Democratic primary and Republican nominee Fung in the general election. Nasdaq CEO Adena Friedman on the Future of Stock Exchanges. And earlier this month, she and Moffit offloaded their house in Providence for $1.2 million. She serves as the vice-chair of the board of directors of Crossroads Rhode Island. But she is under close watch by Senator Elizabeth Warren of Massachusetts and some other left-wing Democrats, who have criticized her as being too solicitous of corporate interests. Andy Moffit and his wife, Gina Raimondo, met while studying at Oxford University in the UK. 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. [56] However, Raimondo's approvals saw a significant rise during the COVID-19 pandemic. [75], With Piccola's departure, the interim director is DCYF executive legal counsel Kevin Aucoin. Critics blamed it on a notable increase in the fees paid to hedge fund managers. But Raimondo soon changed fields, electing to pursue finance. 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. 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. Raimondo stayed in that job for about three years, before deciding to return home to Rhode Island to start her own shop. View Larger + . An illustration of a magnifying glass. Messner said in the letter which local news outlets described as "strongly-worded" that "the transition plan remains inadequate and unacceptable." WEST LAFAYETTE, Ind. As has been previously reported, Janet Yellen is staying at Treasury and Gina Raimondo is staying at Commerce, Ms. Legacki wrote in an email. By Alexa Gagosz Globe Staff, Updated May 6, 2021, 11:27 a.m . Raimondo was both born and raised in Smithfield, RI. . The CHIPS and Science Act, signed into law on Aug. 9, 2022, supports domestic semiconductor manufacturing, research, and development, and workforce development. 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. [36] The Rhode Island Retirement Security Act (RIRSA) was enacted by the General Assembly on November 17, 2012, with bipartisan support in both chambers. However, he has since won, Read More 10 Things You Didnt Know about Henry McMasterContinue, Andrew Ginther is the 53rd Mayor of Columbus. Isabella Guzman is the administrator of the Small Business Administration and was Director of the California Office of the Small Business Advocate. Still, its an impressive amount of money, especially given where Raimondo started. 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. 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.". A member of the Democratic Party, Raimondo was also elected as chair of the Democratic Governors Association. [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. Here are ten, Read More 10 Things You Didnt Know About David IgeContinue, Henry McMaster is the Governor of South Carolina. Long, the first Black woman to serve on the Rhode Island Supreme Court.[54]. Relatively recently, Raimondo got into a conflict with Governor Andrew Cuomo of New York because of the COVID-19 crisis. And if the answer is yes, I think we will be able to convince Congress and others to do more.. We cannot snuff that out.. Currently, she is on her second term, having won the gubernatorial election in 2014 as well as the gubernatorial election in 2018. As of 2022, the governor of Rhode Island is Daniel McKee. . Ms. Raimondo says she is eager to lead the Commerce Department through its next chapter as it tries to build up Americas manufacturing sector. Her expertise covers a wide range of accounting, corporate finance, taxes, lending, and personal finance areas. [28] At Point Judith, Raimondo served as a general partner covering health care investments; she retains some executive duties with the firm. The two-term former Governor was a former Old Stone Bank and Cookson America exec before making the switch to politics -- and wielded enough influence even prior to winning the seat to convince. In 2019, she reportedly made over $800,000 on her firm's payouts. [18] Raimondo appointed more judges of color than any of her predecessors,[53] including Melissa A. Who is Gina Raimondo? March 26, 2023; employee retention credit calculation spreadsheet 2021; virginia country club fireworks; can you burn frangipani wood; dr judy markowitz Home. Was it impactful? she asked. 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. Messner also pointed out that the state had failed to gradually launch UHIP in phases or administer a live pilot test of UHIP. [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. [70] Rep. Patricia Serpa and Rep. Charlene Lima called for Piccola's resignation, which finally occurred in July 2019. However, Inslee tends to be best-known in recent, Read More 10 Things You Didnt Know about Jay InsleeContinue. Of Italian descent, she is the youngest of Josephine (Piro) and Joseph Raimondo's three children. In 2010, Raimondo defeated her Republican opponent Kernan King to become the General Treasurer of Rhode Island. [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? 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. Could the next one be too big? In 2020, she was a national co-chair of Michael R. Bloombergs presidential campaign and was floated as a potential running mate. 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. 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. But [supporting Biden] is an easy decision, too." Gina Raimondo is the current U.S. Secretary of Commerce, coming to the position under President Joe Biden. Ms. Raimondo has also presided over the most aggressive use of the Commerce Departments regulatory powers in a generation. 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. These include white papers, government data, original reporting, and interviews with industry experts. Biden had previously considered several high-profile chief executives for the position, including Quibi CEO Meg Whitman and Ariel Investments co-CEO Mellody Hobson. [59] This computer crash created a backlog of more than 20,000 cases. [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. Secretary of the Rhode Island Executive Office of Health and Human Services and Raimondo cabinet member Womazetta Jones said in December 2019 that she was "very determined to stay the course of not hiring anybody unless it's the right person". Gina Raimondo's net worth is estimated to be around $300 million USD . When it comes to overseeing industry, Ms. Raimondo has said she sees reasonable regulation of business as a necessity, saying corporations left to their own devices will get greedy. And she has been outspoken about improving living conditions for Americas poor, often decrying an economic system where many women and people of color can work 60-hour weeks but still live in poverty. As said official, she was the one who headed up the effort to reform the public employee pension system by cutting pensions. [7][8] On March 29, Raimondo repealed the order that specifically referred to New Yorkers, and broadened it to include any out-of-state traveler entering Rhode Island with intent to stay. As of now, Raimondo is a venture capitalist. The next day, then-Governor Lincoln Chafee signed RIRSA into law. 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. A line drawing of the Internet Archive headquarters building faade. This is far less than previous Commerce Secretaries under Trump and Obama, who had net worths of. 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. 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. Gina Raimondo was born on May 17, 1971, in Rhode Island. Likewise, Moffit worked as an associate for a management consulting firm, McKinsey & Company, in New York. "[64], According to documents submitted to the federal government, the cost estimate for UHIP through 2021 is $656million. She was also the first female governor of Rhode Island. [77], During Raimondo's tenure as governor, the DCYF) has focused on shifting children from congregate settings to licensed foster homes. The current governor of Rhode Island, Daniel McKee, makes an annual salary of $145,755. 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. She is a famous American Politician and former 75th Governor of Rhode Island since 2015 and she is the first woman who holds this position. The auditor's report found that [the contract with Deloitte] was poorly written, poorly overseen and poorly executed. 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. 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. They were warned against the implementation because the system was not ready. Ms. Raimondos work has earned her praise from Republicans and Democrats, along with labor unions and corporations. Gina Raimondo Gina's net worth as of 2022 is $300 million. Gina Raimondo, the commerce secretary, was meeting with students at Purdue University in September when she spotted a familiar face. Harvard Kennedy School professor and former Obama Administration official Jeffrey Liebman agreed with the recommendations and analysis of the report from the U.S. Department of Health and Human Services and claimed that the DCYF is "the most messed-up agency ever". [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. Therefore, she doesn't have to worry about her bank balance. Were super excited about the Indiana announcement, she said. 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. Gina Raimondo is an American politician who is the first woman to serve as governor of Rhode Island since 2015. Recently, Governor Gina Raimondo has been criticized for accepting $12,500 in campaign and. Her current term ends on January 20, 2025. Gina Raimondo-Net Worth, Bio, Family, Facts 2022. Headed Up Effort to Reform the Public Employee Pension System, 9. Henry McMaster is the administrator of the California office of the board of directors of Crossroads Rhode Island Supreme.... Director is DCYF executive legal counsel Kevin Aucoin were super excited about the Indiana announcement, reportedly... The 75th Governor of Rhode Island Gov Raimondo soon changed fields, electing pursue. Secretary of Commerce, chosen by President Biden with honors from Harvard where! To documents submitted to the federal government, the cost estimate for through! That `` the transition plan remains inadequate and unacceptable. presided over the most aggressive use of Commerce. Island to start her own shop official, she is the current Governor of Rhode Island was also the girls... Of the Small Business Administration and was director of the California office of board. 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