Wikipedia

Eric Hovde

Eric Hovde (born 1964) is an American businessman, financier and banker. As a political candidate in Wisconsin, he mounted an unsuccessful primary campaign in 2012, and is seeking the Republican nomination in the 2024 United States Senate election in Wisconsin.

Eric Hovde
Hovde in 2012
Born
Eric Hovde

1964 (age 59–60)
Madison, Wisconsin, U.S.
EducationMadison East High School
Alma materUniversity of Wisconsin–Madison
Occupations
  • Businessman
  • Financier
  • Banker
Years active1994–present
Political partyRepublican
SpouseSharon Hovde
Children2
Parents
RelativesIngvald "Inky" Hovde (grandfather)

Early life and education edit

Hovde was born in Madison, Wisconsin, in 1964 and raised in the nearby town of Maple Bluff.[1] He is of Norwegian decent and his father immigrated from Norway to the United States as a child.[2] Hovde's father, Donald Hovde, served as Undersecretary of the U.S. Department of Housing and Urban Development for President Ronald Reagan and served as President of the National Association of Realtors for a brief period in 1979.[3] In addition, Donald Hovde also served as a member of the Federal Home Loan Bank Board from 1983 until 1985 and founded Hovde Realty, Inc.[4] Hovde's great-grandfather Ingvald "Inky" Hovde founded Hovde Properties in 1933, which is now co-owned by Eric and his brother Steve.[5]

Hovde attended Madison East High School and he graduated from the University of Wisconsin–Madison where he studied Economics and International Relations.[2]

Business career edit

After college, Hovde moved to Washington, D.C., due to his father's roles in the Reagan administration. After spending 24 years in Washington D.C., Hovde moved back to Wisconsin in 2011 months before he announced his senatorial campaign.[6]

In 1994, Hovde started his own hedge fund, and he later went on to purchase a number of banks. Hovde currently serves as CEO for Hovde Properties, LLC. in Madison. He donated to the campaign of Democrat Jim Doyle in 2002.[6] He is CEO of Sunwest Bank.[7]

Eric Hovde has also gone into humanitarian work and charity. The organization is named Hovde Foundation and was founded in 1998.[8]

Campaigns edit

2012 edit

Main article: 2012 United States Senate election in Wisconsin

On March 8, 2012, Hovde announced his candidacy for Wisconsin's open U.S. Senate seat which was vacated by Incumbent Democratic Senator, Herb Kohl. He faced a four-way primary versus four-term governor and former Department of Health and Human Services Secretary Tommy Thompson, former Congressman Mark Neumann, and then-Wisconsin Assembly Speaker Jeff Fitzgerald. Hovde ran his campaign on many traditionally conservative platforms, including a balanced budget, a limited Federal Reserve, a deregulated economy, and lower taxes.[9]

He generated controversy over remarks made on June 15, 2012, at the Brookfield Chamber of Commerce where Hovde suggested that he was tired of newspaper coverage of people suffering and impoverished by the recession, and would rather see coverage of national issues, such as the deficit.[9] His campaign was largely self-funded, with some significant contributions from conservative groups such as Freedomworks.[citation needed]

However Hovde lost the primary on August 14, 2012, to Tommy Thompson. Hovde came in second with 31% of the vote compared to Thompson's 34%.

2024 edit

Main article: 2024 United States Senate election in Wisconsin

On February 20, 2024, Hovde announced his candidacy for the 2024 United States Senate election against incumbent Democrat Tammy Baldwin.[10] He generally suffers from low name recognition, as Marquette University Law School poll in January 2024 found that more than eight in 10 registered voters in Wisconsin didn't know enough about Hovde to form an opinion of him.[10] The Democratic Party of Wisconsin has mainly attacked Hovde's residence in California and his ownership of several banks.[11][12]

National Republican Senate Committee Chair Steve Daines was quoting as saying, "[Hovde's] experience as a job creator rather than a career politician makes him a strong candidate to flip Wisconsin's Senate seat this year."[5] As part of his campaign, Hovde has pledged to donate his Senate salary if elected to several Wisconsin-based charities.[13] Controversially, Hovde called for heavy restrictions on the sale of alcohol in Wisconsin, a state known for its beer and drinking culture.[14]

Other races edit

Hovde has been considered a candidate in 2018 and 2022 but declined for both. In 2018 he ultimately decided against running and endorsed Republican Leah Vukmir.[15][16]

Meanwhile, in 2022 Hovde considered another run, but Hovde would comment, saying he is more worried about national and federal issues than state-wide issues. Hovde did not comment to endorse Tim Michels, but did say ""This is no negative comment about Rebecca at all..."[17]

This discussion over his theoretical gubernatorial campaign was also one of the first times he openly announced he was considering a run for senate in 2024.

Policy positions edit

Abortion edit

Hovde has stated that he is against late term abortion however stated exceptions are allowed.[7][18] However, he supports Contraceptives.[18]

Alcohol sale edit

In 2017, Hovde criticized alcohol sales, saying booze should only be available to people who brew or distill it themselves.[14]

Bipartisanship edit

In his 2024 Senate announcement, Hovde stated that he supports a bi-partisan solution to the United States Border Crisis and equated politics with business and claimed that he would "work with anybody to try to advance the country and this state's interests."[7]

Healthcare edit

Hovde supports medicaid and medicare. Hovde campaigned as a supporter of overturning the Affordable Care Act in his 2012 senatorial campaign.[7]

Ideology edit

Hovde described himself as a Libertarian and free-market conservative in his 2012 senate campaign, and has a Conservative in 2024.[7] Mark Neumann attacked Hovde for being "too liberal" in 2012.[19]

Presidency of Joe Biden edit

Hovde is a critic of President Joe Biden and has expressed disappointment in both his administration's withdrawal from Afghanistan and policy over the national debt.[20]

Marijuana edit

Hovde has spoken in favor of decriminalizing marijuana.[21] At a 2017 event, he said he believed that marijuana should be available to those who grow it, similar to his stance on alcohol.[21]

Immigration edit

As said on his official campaign website, Hovde is critical of the Biden administration's handling of the Mexican-American border. In his arguments against immigration, Hovde has discussed the topic of Fentanyl and the ongoing controversy surrounding the drug.[22]

However, on his Twitter (now X), he has shown his support for legal immigration to the United States.[23]

2020 Presidential Election edit

Hovde has not openly expressed the belief that the 2020 United States presidential election was illegitimate, saying: “Were there issues? Yes. But we got to [sic] move past that, and we got to get confidence in our election process”.[24]

Personal life edit

As of 2024, Hovde and his wife reside in Shorewood Hills, Wisconsin, and own a $7-million mansion in Laguna Beach, California, where he has lived on-and-off between the two properties.[2][25] He is also known to practice Brazilian jiu-jitsu and suffers from multiple sclerosis.[6]

As of 2012, Hovde's net worth was at least $52 million.[13]

Electoral history edit

Hovde has officially ran for public office once before, that being in 2012. The 2024 Hovde campaign has been his second only electoral campaign, but there have been minor draft movements — or at least groups which wanted for him to run, none of which achieved their goal. Hovde lost to former governor Tommy Thompson by 4 points in the election.

2012 United States Senate election in Wisconsin edit

Republican primary results[26]
Party Candidate Votes %
Republican Tommy Thompson 197,928 34.0
Republican Eric Hovde 179,557 30.8
Republican Mark Neumann 132,786 22.8
Republican Jeff Fitzgerald 71,871 12.3
Republican Write-ins 244 0.04
Total votes 582,630 100

Awards edit

Hovde was named as one of Orange County, California's most influential people in 2018, 2019, and 2021.[10][27]

External links edit

  • "Eric Hovde". Ballotpedia. Retrieved March 16, 2024.

References edit

  1. ^ "Vote Smart | Eric Hovde". Vote Smart. Retrieved March 16, 2024.
  2. ^ a b c "Eric Hovde Bio: Senate Candidate Has Deep Roots In Wisconsin, 'Is 3rd Generation Wisconsinite'". February 24, 2024. Retrieved March 16, 2024.
  3. ^ "Nomination of Donald I. Hovde To Be Under Secretary of Housing and Urban Development | The American Presidency Project". www.presidency.ucsb.edu. Retrieved March 16, 2024.
  4. ^ "Nomination of Donald I. Hovde To Be a Member of the Federal Home Loan Bank Board". Ronald Reagan Library. Retrieved March 16, 2024.
  5. ^ a b "Businessman Eric Hovde enters U.S. Senate race, setting up Wisconsin contest against Tammy Baldwin". Journal Sentinel. Retrieved March 16, 2024.
  6. ^ a b c "U.S. Senate candidate profile: Political newcomer Eric Hovde". FOX 6 Now Milwaukee. August 7, 2012. Retrieved March 16, 2024.
  7. ^ a b c d e "Republican Eric Hovde seeks to unseat Democrat Baldwin in Wisconsin race for US Senate". AP News. February 20, 2024. Retrieved March 16, 2024.
  8. ^ "About Us".
  9. ^ a b "GOP Candidate Tells Press To Stop Writing 'Sob Stories' About Poor People". HuffPost. June 18, 2012. Retrieved March 16, 2024.
  10. ^ a b c "Republican Eric Hovde officially enters Wisconsin Senate race against Tammy Baldwin". NBC News. February 20, 2024. Retrieved March 16, 2024.
  11. ^ "Hovde was in California the day Steve Daines announced Senate Campaign". Wisconsin Dems. Retrieved March 15, 2024.
  12. ^ "Eric Hovde in His Own Words: "My Main Business" Is the California Bank I Own". Wisconsin Dems. Retrieved March 15, 2024.
  13. ^ a b Irwin, Lauren (March 15, 2024). "Hovde pledges to donate Senate salary if he wins in Wisconsin". The Hill. Retrieved March 16, 2024.
  14. ^ a b Stuart, Tessa (March 13, 2024). "GOP Senate Candidate Took Bold Stance Against the Sale of Alcohol … in Wisconsin". Rolling Stone. Retrieved March 16, 2024.
  15. ^ Glauber, Bill. "Eric Hovde remains undecided on 2018 U.S. Senate run in GOP primary". Journal Sentinel. Retrieved March 16, 2024.
  16. ^ "Republican Eric Hovde Won't Enter Race For US Senate". WPR. April 9, 2018. Retrieved March 16, 2024.
  17. ^ "Hovde passes on guv run, considering 2024 U.S. Senate bid". April 15, 2022.
  18. ^ a b "Abortion". American Bridge 21st Century: Repro Files. Retrieved March 16, 2024.
  19. ^ Kertscher, Tom. "Fellow GOP Senate candidate Eric Hovde backed billions for rail, banks, Mark Neumann says". @politifact. Retrieved March 16, 2024.
  20. ^ Conniff, Ruth (February 21, 2024). "Eric Hovde's weirdly lackluster Senate bid • Wisconsin Examiner". Wisconsin Examiner. Retrieved March 16, 2024.
  21. ^ a b Rosciglione, Annabella (March 13, 2024). "Wisconsin GOP Senate candidate suggested banning alcohol sales in state known for its booze: Report - Washington Examiner". Retrieved March 16, 2024.
  22. ^ "Immigration". February 19, 2024.
  23. ^ "We have always been a nation of immigrants, but the American Dream should be pursued legally through the appropriate channels. It's time to end the abuse of our asylum system and secure our southern border". X (formerly Twitter). Retrieved April 8, 2024.
  24. ^ "U.S Senate candidate Eric Hovde weighs in on abortion, election laws". CBS58. Retrieved April 17, 2024.
  25. ^ "Senate Candidate Eric Hovde owns a 7 Million Dollar California Home". Milwaukee Journal Sentinel. Retrieved March 16, 2024.
  26. ^ "Canvass Results for 2012 Partisan Primary - 8/14/2012" (PDF). Wisconsin Government Accountability Board. Archived from the original (PDF) on October 29, 2013. Retrieved September 22, 2012.
  27. ^ "Eric Hovde". Orange County Business Journal. January 3, 2018. Retrieved March 16, 2024.
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