Gina Raimondo is the U.S. Secretary of Commerce. Prior to holding this position, she was the governor of Rhode Island. 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.
- Gina Raimondo is the current U.S. Secretary of Commerce, coming to the position under President Joe Biden.
- Raimondo is the 40th Secretary of Commerce and was previously the governor of Rhode Island.
- 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.
- Raimondo has degrees from Harvard and Yale and is a Rhodes Scholar from Oxford University.
- 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.
Early Life and Education
Gina Raimondo was born on May 17, 1971, in Rhode Island. She grew up in Smithfield, Rhode Island, the youngest of three children in an Italian-American family.
Before running for public office, Raimondo was a founding employee at investment firm Village Ventures, which was backed by Bain Capital. She also co-founded her own venture capital firm, Point Judith Capital.
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. from Yale Law School.
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. In addition to this, she aids in developing policies regarding technology and climate change.
Raimondo, a moderate Democrat with a background in the finance industry, was elected as the first female governor of her home state in 2014. 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.
Before that, she served as Rhode Island's general treasurer and spearheaded landmark pension reform by working on the state's unfunded pension liability in the amount of $7 billion. She also led the Democratic Governors Association from 2018 to 2019.
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."
Raimondo is viewed as a relatively traditional choice for commerce secretary. Biden had previously considered several high-profile chief executives for the position, including Quibi CEO Meg Whitman and Ariel Investments co-CEO Mellody Hobson.
As Secretary of Commerce, Raimondo has stated that "The Commerce Department has a simple but vital mission—to spur good-paying jobs, empower entrepreneurs to innovate and grow, and help American workers and businesses compete."
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.
What Ethnicity Is Gina Raimondo?
Gina Raimondo was born and raised in Rhode Island. Her family is Italian-American, thus making her family of Italian origin. Her grandfather arrived in the U.S. from Italy at the age of 14 and taught himself English in a public library.
How Much Does the Governor of Rhode Island Make?
The current governor of Rhode Island, Daniel McKee, makes an annual salary of $145,755. The lieutenant governor, Sabina Matos, makes $122,740.
What Is Gina Raimondo's Net Worth?
U.S. Secretary of Commerce, Gina Raimondo, has a net worth of approximately $10 million. This is far less than previous Commerce Secretaries under Trump and Obama, who had net worths of $600 million and $2 billion, respectively.
The Bottom Line
Gina Raimondo is the 40th U.S. Secretary of Commerce, chosen by President Biden. She was also the first female governor of 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.