I have real concerns about the departments approach, whether its approving assault weapon sales, negotiating trade deals or supporting big tech companies.. [7][8] In the 2020 presidential election, Raimondo served as co-chair of Michael Bloomberg's 2020 presidential campaign. Learn how your comment data is processed. Gina's net worth as of 2022 is $300 million. Raimondo went on to graduate with honors from Harvard, where she was recognized as the top economics student in her class. As a governor, her annual salary is over $125,000. Did you get it right? Raimondo played rugby at the Radcliffe Rugby Club, and joked that this experience "was good training for a career in politics". [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. 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. 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. So far, he has managed to win not one but two elections for said position, with the second time being an uncontested victory. [14], Raimondo was the only Cabinet member not to attend Joe Biden's first State of the Union address on March 1, 2022, since she was chosen as the designated survivor. A member of the Democratic Party, Raimondo was also elected as chair of the Democratic Governors Association. Share Tweet. This is far less than previous Commerce Secretaries under Trump and Obama, who had net worths of. 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. The State of Rhode Island invested $5 million in one of Raimondo's funds around 2006. She has been holding that office since early 2021. [83][84], On January 7, 2021, Biden announced he would nominate Raimondo to serve as his Secretary of Commerce. Raimondo was elected alumni fellow at Yale, in 2014. 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. 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. As a governor, her annual salary is over $125,000. 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. [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. Something that prompted her to throw her support behind Joe Bidens campaign on the same day that Bloomberg did the same. [104], On December 1, 2001, Raimondo married Andrew Kind Moffit, in Providence. 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 warned that if the administration gets it wrong, the United States may surrender its leadership in key technologies for good. In an interview, Ms. Raimondo said that the claim was just not true and that exemptions were based on technical specifications, not political considerations. On top of that, Raimondo is the Chair of the Democratic Governors Association. [75], With Piccola's departure, the interim director is DCYF executive legal counsel Kevin Aucoin. She also served as chair of the Democratic Governors' Association in 2019. Her father worked in manufacturing for decades, at a time when Rhode Island was known for its jewelry production. 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.". Meanwhile, her supporters claimed that the investments in hedge funds served to stabilize the portfolio for more consistent returns over time than otherwise possible. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. Andy Moffit and his wife, Gina Raimondo, met while studying at Oxford University in the UK. Prior to holding this position, she was the governor of Rhode Island. Gina Raimondo to serve as secretary of Commerce, according to two people familiar with the decision . 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. After being together for a few years, the couple got married in 2001. [24] Raimondo has stated that her experience working at housing and poverty clinics inspired her to attend law school. 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. On top of that, Raimondo is the Chair of the Democratic Governors Association. Curiously, Raimondo made the choice to support Mike Bloombergs campaign to become the Democratic nominee for the presidential election. She previously served as the Governor of Michigan and as the state's Attorney General. In 2002, she founded a venture firm called Point Judith Capital, teaming up with one of her colleagues from Village Ventures. 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. Further, Raimondo, as a Rhodes Scholar, attended New College, Oxford. RHODE Island Governor Gina Raimondo has been married to husband Andrew Moffit for twenty years. 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. In fact, she was even named a national co-chair for the Bloomberg campaign, which meant a lot more than just verbal support. Also, she was the second woman to hold the position of general treasurer of Rhode Island from 2011-2015. gina raimondo husband net worth. While Gina sure has a massive income, her net worth might not be less than $5 million. Somewhat Oppose: 5%. The incoming administration will select Gina M. Raimondo, a moderate Democrat, to guide a sprawling department critical to business and . [70] Rep. Patricia Serpa and Rep. Charlene Lima called for Piccola's resignation, which finally occurred in July 2019. She was afraid of pretty much nothing, said her brother, Dr. Thomas J. Raimondo, a pulmonologist in Warwick, R.I. I think because we brought her up tough, but No. "Gina M. [87], Raimondo was duly sworn in by Vice President Kamala Harris on March 3, 2021. [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. The governor is now getting . Identities Podcasts. [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. 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. 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. Gina Raimondo Biography, Career, Age, Height, Family, Wife, and Net Worth. 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. She entered politics in 2010, when she successfully ran for the position of general treasurer of Rhode Island. [59] This computer crash created a backlog of more than 20,000 cases. . Around 2006, the State of Rhode Island invested $5 million into one of Raimondos funds. Ms. Raimondo has also presided over the most aggressive use of the Commerce Departments regulatory powers in a generation. 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. She also co-founded her own venture capital firm, Point Judith Capital. The lieutenant governor, Sabina Matos, makes $122,740. [23][24] Raimondo received her Juris Doctor degree from Yale Law School in 1998. Gina Raimondo Gina's net worth as of 2022 is $300 million. Born and Raised in Smithfield, RI [9], Described as a "moderate technocrat" by The Washington Post,[10] Raimondo is often characterized as a centrist within her party. Additionally, she receives extra remuneration of $100,000, including bonuses and personal expenses. There is no exact information on Raimondo's fortune and net worth. 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. Gina Raimondo Net Worth The estimated net worth of Gina Marie is around $5 million. Raimondo stands at a height of 5 feet 6 inches . 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. 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. Currently, Raimondo is overseeing the second phase of her reopening plan, which involves even more loosening of restrictions. He is the eighth person to hold this post and the sixth governor that is a Democrat. 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. On the orders of Raimondo, the UHIP launch occurred as planned despite these federal warnings. 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. She cofounded and served as a general partner of Point . Nasdaq CEO Adena Friedman on the Future of Stock Exchanges. [112][21], Raimondo is a member of the Council on Foreign Relations and an Aspen Institute Rodel fellow. Was it impactful? she asked. [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. 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. [94] Raimondo has faced criticism from some progressives for her opposition to the European Commission's Digital Markets Act (DMA) proposal. As of now, Raimondo is a venture capitalist. Her annual salary as a governor is over $125,000. 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. While the scale of the task is daunting, it so far has not fazed Ms. Raimondo. "Here's How Much Commerce Secretary Gina Raimondo Is Worth.". 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. The Raimondo Administration ultimately ignored the federal warnings resulting in benefit delays, system downtime, and benefit loss caused in error. 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. She has served on the boards of La Salle Academy and Family Service of Rhode Island. For those who are unfamiliar, the Rhodes Scholarship is a scholarship started up by Cecil John Rhodes for the purpose of promoting unity within the British Empire as well as promoting a better relationship between Great Britain and the United States. Jennifer Granholm is the Secretary of Energy. For example, indoor dining is now permitted, though there are still serious limitations such as a maximum of 50 percent seating capacity. Timeline: Highlights of Gina Raimondo's six years as governor of RI. [3] During her first year in office, Raimondo prioritized reforming Rhode Island's public employee pension system. 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. The CHIPS and Science Act, signed into law on Aug. 9, 2022, supports domestic semiconductor manufacturing, research, and development, and workforce development. Gina Raimondo is the U.S. Secretary of Commerce. 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. [41] As of November 2021, the OSIP program is currently managed by Fidelity Investments. Raimondo is expected to join President-elect Joe Biden's cabinet as Secretary of Commerce. [96] In March 2022, Warren accused Raimondo "lobbying on behalf of Big Tech". Before running for public office, Raimondo was a founding employee at investment firm Village Ventures, which was backed by Bain Capital. 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. Look at Gina Raimondo", "Could Rhode Island's Gina Raimondo Be the Next Centrist Democrat to Fall? 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. 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". Ms. Raimondo says she is eager to lead the Commerce Department through its next chapter as it tries to build up Americas manufacturing sector. Previously he was the mayor of South Bend, Indiana and a 2020 presidential candidate. As Governor, Raimondo presided over Rhode Island's initial response to the COVID-19 pandemic. Gina Raimondo and Andrew Moffit married in 2001. Her grandfather arrived in the U.S. from Italy at the age of 14 and taught himself English in a public library. In 2016, Fortune named her as one of the World's 50 Greatest leaders. 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. 7. [18] However, Senator from California Kamala Harris was chosen as Biden's running mate instead. [26][27], Raimondo returned to Rhode Island in 2000 to co-found the state's first venture capital firm, Point Judith Capital. Identities / Gina Marie Raimondo - Gina Raimondo . Investopedia requires writers to use primary sources to support their work. This is far less than previous Commerce Secretaries under Trump and Obama, who had net worths of $600 million and $2 billion, respectively. 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. Gina Raimondo Height and Weight. 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. 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. But [supporting Biden] is an easy decision, too." 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. 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". 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 stayed in that job for about three years, before deciding to return home to Rhode Island to start her own shop. WEST LAFAYETTE, Ind. 6. Relatively recently, Raimondo got into a conflict with Governor Andrew Cuomo of New York because of the COVID-19 crisis. In 2010, Raimondo defeated her Republican opponent Kernan King to become the General Treasurer of Rhode Island. In an interview, House Oversight Chair Patricia Serpa (D-West Warwick) said, "There's plenty of blame to go around. It is interesting to note that Raimondo was a Rhodes Scholar. During this period, she specialized in health care investments. She is the former trustee at Women and Infants Hospital and Chair of its Quality Committee. "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 . 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. At the moment she is serving as the 40th US Secretary of Commerce. Ms. Raimondo was also gaining political support elsewhere in the Democratic Party. Critics of the Biden administrations plans have noted that the federal government may not be the best judge of which technologies to back. 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. An illustration of a magnifying glass. As of 2022, the governor of Rhode Island is Daniel McKee. Gina Raimondo Net Worth. So, how much is Gina Raimondo worth at the age of 50 years old? As has been previously reported, Janet Yellen is staying at Treasury and Gina Raimondo is staying at Commerce, Ms. Legacki wrote in an email. Don't Know 4%. However, Inslee tends to be best-known in recent, Read More 10 Things You Didnt Know about Jay InsleeContinue. 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. Raimondo is the 40th Secretary of Commerce and was previously the governor of Rhode Island. Gina Raimondo Previous position: Governor of Rhode Island (2015-2021), General Treasurer of Rhode Island (2011-2015) As said official, she was the one who headed up the effort to reform the public employee pension system by cutting pensions. Her current term ends on January 20, 2025. [31], In 2010, incumbent general treasurer Frank T. Caprio chose to run for governor rather than seek a second consecutive term in office. [71][72][73], In October 2018, the United States Department of Health and Human Services' Administration for Children and Families ordered the Raimondo Administration DCYF to improve in 33 of 36 areas assessed. We cannot snuff that out.. 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. 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. Gina Raimondo is an American venture capitalist and a politician. As of December 2020 DCYF does not have a permanent director. As Secretary of Commerce, Raimondo has been a co-chair of the Trade and Technology Council since its creation in 2021. She wrote "Far too many families are facing financial challenges that might be mitigated or avoided through a greater understanding of personal finance," and "payday loans exploit that lack of understanding With numerous economic challenges, Rhode Island should not permit the sale of a financial product that traps so many customers in a cycle of debt. ", Ballotpedia. At an event held by the Atlantic Council in September, Ms. Raimondo acknowledged that people were watching closely and that the administrations credibility was on the line. The next day, then-Governor Lincoln Chafee signed RIRSA into law. ", Politico. 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. Her political career is her primary source of income. 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". He traveled to Providence to applaud her efforts and inspect a local bridge that he said was being held up by Lincoln Logs., Let the horns blow, Mr. Biden said. [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. Her wealth, in part, comes from the State of Rhode Island's investment in Point Judith Capital as she is a shareholder. Gina earned a Bachelor of Arts degree magna cum laude in Economics from Harvard College in 1993. Were super excited about the Indiana announcement, she said. Gina Raimondo is the 75th Governor of Rhode Island. Her expertise covers a wide range of accounting, corporate finance, taxes, lending, and personal finance areas. Long, the first Black woman to serve on the Rhode Island Supreme Court.[54]. [67] Raimondo appointed Trista Piccola as her new DCYF director in January 2017. Ms. Raimondo beamed as she greeted. Gina Raimondo as his commerce secretary. [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. Senator from California Kamala Harris was chosen as Biden 's running mate instead more than 20,000.! And was previously the governor of RI father worked in manufacturing for decades, at a time when Island! Bloomberg campaign, which involves even more loosening of restrictions, a moderate Democrat, to a. Woman to serve as Secretary of Commerce and was previously the governor of and... 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