Bruce Rauner Bio
Bruce Vincent Rauner, born on February 18, 1956, in Chicago, Illinois, is an American businessman, venture capitalist, and politician who served as the 42nd governor of Illinois from 2015 to 2019. A longtime investment executive, he built a career in private equity before entering politics and winning the 2014 gubernatorial race as a Republican. He later lost his reelection bid in 2018 to Democrat J.B. Pritzker in a historic defeat for an incumbent Illinois governor.
Before his time in public office, Rauner spent more than three decades at the Chicago-based private equity firm GTCR, which he co-founded and chaired until retiring in 2012. He is also recognized for his philanthropic work across Illinois, particularly in support of public education and charter schools.
Early Life and Background
Bruce Vincent Rauner was born on February 18, 1956, in Chicago, Illinois, and grew up in Deerfield, a suburb about ten miles north of the city. His mother, Ann Erickson Rauner, worked as a nurse, and his father, Vincent Rauner, was a lawyer and senior vice president at Motorola. He has three siblings, Christopher, Mark, and Paula, and is of half Swedish and half German descent. His parents later divorced, and his father remarried Carol Kopay in 1981, giving Bruce a stepsister, Larisa Olson. His first job was as a paperboy.
Rauner attended Dartmouth College, where he graduated summa cum laude with a degree in economics and became a member of the Theta Delta Chi fraternity. He later earned an MBA from Harvard University, a credential that helped open the doors to a long career in finance and investment management. His education and family background laid the foundation for his eventual transition from the business world to public service.
Path to US Politics
After finishing his MBA at Harvard, Bruce Rauner joined the private equity firm GTCR in 1981, where he would spend more than three decades building his investment career. He eventually became co-founder and chairman of the Chicago-based firm, retiring from that role in October 2012. Following his retirement, he turned his attention to civic and political causes, including serving as chairman of Choose Chicago, the city’s tourism bureau, and as chairman of the Chicago Public Education Fund. He was also an advisor to Chicago Mayor Rahm Emanuel before entering electoral politics.
In March 2013, Rauner formed an exploratory committee to consider a run for governor of Illinois as a Republican. He officially announced his candidacy on June 5, 2013, with priorities that included streamlining government, improving education, and improving the state’s business climate. In October 2013, he named Wheaton City Councilwoman Evelyn Sanguinetti as his running mate. He went on to win the March 2014 Republican primary with about 40 percent of the vote, setting up a general election contest against Democratic incumbent Pat Quinn.
Bruce Rauner Career
Early Career (1981–2012)
Bruce Rauner began his professional career in 1981 at the Chicago-based private equity firm GTCR shortly after earning his MBA from Harvard University. Over the course of more than thirty years, he helped build GTCR into a respected investment firm, eventually serving as its chairman. He retired from the firm in October 2012 and, the following year, opened R8 Capital Partners, a self-financed venture firm that planned to invest up to $15 million in smaller Illinois companies.
Outside of his investment work, Rauner took on civic leadership roles, including serving as chairman of Choose Chicago, the city’s convention and tourism bureau, and as chairman of the Chicago Public Education Fund. He also served as chairman of the Education Committee of the Civic Committee of The Commercial Club of Chicago. In 2015, after becoming governor, he reported earning more than $180 million in income.
Breakthrough (2013–2014)
Rauner’s breakthrough into statewide politics came in 2014 when he won a crowded Republican primary and went on to narrowly defeat Democratic incumbent Governor Pat Quinn in the general election. Receiving about 50.27 percent of the vote to Quinn’s 46.35 percent, Rauner carried every county in Illinois except Cook County, home to Chicago. His campaign was notable for its heavy self-funding, with Rauner spending a record $26 million of his own money on the race.
His victory also drew significant outside support, including major financial backing from Citadel CEO Kenneth C. Griffin, who helped rally tens of millions of dollars in contributions to Rauner’s campaign. On November 4, 2014, Bruce Rauner was elected the 42nd governor of Illinois, and Pat Quinn conceded the next day.
Republican Era (2015–2019)
Bruce Rauner was sworn in as the 42nd governor of Illinois on January 12, 2015. He governed as a moderate-to-liberal Republican, supporting abortion rights, same-sex marriage, and certain immigration protections. During his tenure, he signed legislation banning conversion therapy on minors, made it easier for transgender people to change their birth certificates, and signed a bill requiring doctors who refuse to perform abortions to refer patients elsewhere. He also signed Illinois into law as the first state to explicitly punish boycotts of Israel.
His governorship was defined by a prolonged standoff with the Democratic-controlled legislature. He vetoed a state income tax increase in 2017, only to be overridden, and his demand for budget cuts contributed to a two-year budget impasse that resulted in major credit downgrades for the state. He prioritized education funding, signing a 2017 law that moved Illinois to an evidence-based model of school funding. He also called for the death penalty to be revived in 2018 and supported term limits, abortion rights, and gun control measures focused on keeping firearms away from criminals and the mentally ill.
Notable Events and Milestones
One of the defining moments of Bruce Rauner’s governorship was the Illinois Budget Impasse of 2015 to 2017, which led credit agencies to downgrade the state’s debt to a low investment grade. Another milestone came in March 2018, when Rauner narrowly won his Republican primary against conservative State Representative Jeanne Ives with 52 percent of the vote. That November, however, he lost the general election to Democrat J.B. Pritzker by a historic margin, receiving only 39 percent of the vote in the most lopsided Illinois gubernatorial race in decades.
Bruce Rauner Career Wins
Bruce Rauner’s most notable career wins center on his successful 2014 campaign for governor of Illinois, in which he defeated incumbent Democrat Pat Quinn and carried every county in the state except Cook County. He also secured a hard-fought Republican primary victory in March 2014 against State Senators Kirk Dillard, Bill Brady, and Illinois Treasurer Dan Rutherford, winning with about 40 percent of the vote.
US Politics Highlights
Bruce Rauner won the March 18, 2014, Republican primary with 328,934 votes, representing 40.13 percent of the total. He went on to defeat Pat Quinn in the November 2014 general election with 50.27 percent of the vote. His 2018 Republican primary victory over Jeanne Ives, with 52 percent of the vote, was his most recent verified electoral win before losing the general election to J.B. Pritzker.
Other Wins & Achievements
Beyond electoral politics, Bruce Rauner earned recognition for his business and philanthropic work, including the 2003 Daley Medal from the Illinois Venture Capital Association, the 2008 Distinguished Philanthropist award from the Chicago Association of Fundraising Professionals, and the Association for Corporate Growth’s Lifetime Achievement Award.
Bruce Rauner Family
Family Background and Business Lineage
Bruce Rauner was born to Vincent Rauner, a lawyer and senior vice president at Motorola, and Ann Erickson Rauner, a nurse. He grew up in Deerfield, Illinois, with three siblings: Christopher, Mark, and Paula. After his parents divorced, his father remarried Carol Kopay in 1981, giving Bruce a stepsister named Larisa Olson.
Personal Life
Bruce Rauner married Elizabeth Wessel in 1980; they separated in 1990 and divorced in 1993. In 1994, he married Diana Mendley Rauner, with whom he has three children. He also has three children from his first marriage. Before entering politics, the family lived in Winnetka, Illinois, and during his governorship they resided in the Illinois Governor’s Mansion in Springfield. They also owned ranches in Montana and Wyoming. After losing the 2018 election, Rauner moved to Florida and registered to vote there by August 2020. He is an Episcopalian.