Gina Raimondo Biography, Career, Age, Height, Family, Wife, and Net Worth.

Who is Gina Raimondo?

Gina Raimondo is an American venture capitalist and a politician. At the moment she is serving as the 40th US Secretary of Commerce. She has been holding that office since early 2021.

Gina is a member of the Democratic party. In addition, prior to being appointed as the Secretary of Commerce, she was serving as the first female and 75th governor of Rhode Island. She was elected as the governor in 2015 and her term expired in 2021.

Career

Early Career

She started her career as a law clerk, and soon after she graduated from Yale Law School. As a clerk, she was working for federal judge Kimba Wood of the United States District Court for the Southern District of New York.

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After that, she started acting as vice president for fund development at the Manhattan offices of Village Ventures. The Venture was a capital firm and it was based in Williamstown, Massachusetts. In 2000, she came back to Rhode and co-founded the first venture capital firm called Point Judith Capital. However, the firm later moved its offices to Boston, Massachusetts.

Rhode Island General Treasurer

She was elected as general treasurer on November 2, 2010. In the election, she received 62% of the vote cast while her opponent received 38% of the votes.

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As the new treasurer, she focused more on reforming Rhode Island’s public employee pension system, which was 48% funded in 2010. Moreover, in 2011, she led the state’s retirement board to decrease the rate of return on pension from 8.25% to 7.5%.

In May 2011, Raimondo issued “Truth in Numbers,” a study advocating for benefit cutbacks as a solution to Rhode Island’s pension difficulties. Moreover, she also helped to lead the push to slash pensions, with then-Speaker of the House Gordon Smith.

However, under her leadership pension was criticized for underperforming compared to its peers. According to her critique, the sector was underperforming due to increased fees paid to hedge fund managers. On the other hand, her supporters cited that the investment funds stabilize investments during market downtown for more consistent returns over time.

Municipalities

Gina founded the Ocean State Investment Pool (OSIP), a low-cost investment vehicle aimed at assisting the state and municipalities in better managing and improving the investment performance of their liquid assets. This OSIP is used for day-to-day operations such as payroll and operating expenses.

If the program was funded with $500 million, it would help the Treasury ” to extend its expertise to municipalities and improve investment returns by establishing economies of scale”. In addition, the Program was launched on the 23rd of April, 2012.

Serving as the Governor

On November 4th, 2014, she won the gubernatorial election with 41% of the votes defeating her competitors. Being the governor, she was the first female to be elected in that position. Prior to her resignation, she was among the nine incumbent female governors of the US.

When she was vying for the position, Rhode Island had the highest unemployment rate. After taking the office she started cutting taxes every year. In addition, she also removed eight thousand pages of regulations, which was about 30% of the state regulation.

Within a short time, she had managed to raise the state minimum wage to $11.50. In addition, she also introduced sick leave entitlement and financed the largest infrastructure program in the state’s history. Furthermore, she appointed judges of color more than any other previous Rhode Island governor and made community colleges tuition-free.

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Gin was elected as the Democratic Governors Association’s vice chair for the 2018 election cycle. In 2019, she was appointed as head of the Democratic Governors Association. Moreover, she ran for and was re-elected Governor of Rhode Island for a second term in 2018, becoming the first candidate to get a majority of votes for that post since 2006.

Secretary of Commerce

After 2020, presidential election in the US, she was often mentioned as a possible cabinet secretary in the incoming Biden Administration. However, at first, it was speculated that she was going to be appointed as the Secretary of Health and Human Services. On December 3, 2020, Gin went ahead and confirmed that she was not going to take that sector.

On January 7th, 2021, Biden announced that he had nominated Gina as the Secretary of commerce. After that, she appeared before the Senate Committee dealing with Commerce on January 26. Two months later she was voted in by the Senate on March 1. The following day she was confirmed for the position. She was then sworn in by Vice President Kamala Harris on March 2021.

Community Work

She serves as the chair of Crossroads Rhodes Island. Crossroad is the largest homeless services organization. In addition, she was still Women Administrator of Women and Infant until 2011. In addition, she has also served on the Board of La Salle Academy and Family Services of Rhode Island.

How Old Is Gina Raimondo?

She was born on May 17, 1971, she is 50 years old as of 2021.

Gina Raimondo Family

Who are His Parents?

She was born in Smithfield Rhode Island as the daughter of Josephine Piro and Joseph Raimondo. Her father was working at Bulova company in Providence which later closed leaving her father jobless at the age of 55.

Does She Have Siblings?

She has two elder siblings and she is the youngest.

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Gina Raimondo Education

She attended Harvard College, where she graduated in 1993 with a bachelor of arts degree in economics. Gina then went ahead and enrolled in New College, Oxford as a Rhode Scholar, where she acquired her Master of Arts degree and Doctor of Philosophy in 2002. She received her Juris Doctor degree from Yale Law School in 1998.