Former private equity executive launches bid for Virginia governor

Posted 36 days ago


Glenn Youngkin, a wealthy former private equity CEO, joined the increasingly crowded field of candidates for Virginia governor on Wednesday.

In an announcement video posted online, Youngkin, a first-time candidate, cast himself as a political outsider with modest roots.

“I’m not a politician. I’ve spent the last 30 years building business and creating jobs, leading a team of nearly 2,000 people who trusted me to get things done,” Youngkin, 54, said in the video.

In launching his campaign, Youngkin joins four other candidates seeking the GOP’s gubernatorial nomination in Virginia. The Democratic side has also drawn five contenders, including former Gov. Terry McAuliffe (D), who’s seeking a second term in the governor’s mansion.

Virginia’s current governor, Ralph Northam (D), cannot run for a second term under a state law barring governors from serving out two consecutive terms.

Youngkin, who retired last year as the CEO of the private equity firm Carlyle Group, brings with his candidacy an enormous fortune that could come into play during his campaign.

But the Virginia Republican Party is expected to choose its nominee for governor in a convention rather than through a primary vote. That proposition could water-down the influence of Youngkin’s money in the race, given that political connections could be given more sway in the process.

Still, Youngkin’s fortune could come in handy in a g... (Read more)

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