A venture capitalist is set to be the next governor of Illinois
November 8, 2018
In the battle of VC versus PE for Illinois governor, VC has prevailed. Democrat JB Pritzker, a co-founder of Pritzker Group Venture Capital, has defeated Republican incumbent Bruce Rauner, who co-founded private equity firm GTCR, in the race to lead the sixth-most populous state in the US, bringing in about 54% of the vote.
Pritzker will become the nation's wealthiest sitting politician, per Forbes, with an estimated net worth of $3.2 billion, higher than President Donald Trump's estimated $3.1 billion net worth. He's an heir to the Hyatt hotel fortune who expanded his financial holdings by founding Pritzker Group with older brother Tony Pritzker in the 1990s. The early-stage firm, which is now run by the elder Pritzker and Chris Girgenti, has backed companies such as Bird, Casper and The Honest Company.