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Glenn Youngkin

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Glenn Youngkin
Personal details
Born
Glenn Allen Youngkin

(1966-12-09) December 9, 1966 (age 57)
Richmond, Virginia, U.S.
Political partyRepublican
SpouseSuzanne
Children4
EducationRice University (BA, BS)
Harvard University (MBA)

Glenn Allen Youngkin[1] (born December 9, 1966)[2] is an American businessman who is the Republican nominee in the 2021 Virginia gubernatorial election. Prior to entering politics, he spent 25 years at the private-equity firm The Carlyle Group, later becoming its CEO.[3] He stepped down from the Carlyle Group in September 2020, and announced his candidacy for the 2021 Virginia gubernatorial election in January 2021. Youngkin won the Republican gubernatorial nomination on May 10, 2021, and will face Democratic Party candidate Terry McAuliffe in the general election on November 2.

Although Youngkin rejects the false claim that Donald Trump won the 2020 presidential election, he has embraced Trumpism as a political movement and refused to acknowledge the legitimacy of Joe Biden's presidency until after securing the Republican gubernatorial nomination. Youngkin supports the COVID-19 vaccine, but opposes mask and vaccine mandates. His campaign has drawn national media attention for its education platform, which has emphasized a socially conservative approach to the treatment of transgender students and opposition to critical race theory.

Early life and education

Youngkin was born in Richmond, Virginia.[4] He is the son of Ellis (née Quinn) and Carroll Wayne Youngkin. His father played basketball for Duke University and worked in accounting and finance.[5] When Youngkin was a teenager, the family moved from Richmond to Virginia Beach.[6] He attended Norfolk Academy in Norfolk, Virginia, graduating in 1985.[7] He received numerous high school basketball honors.[8]

Youngkin attended Rice University on a basketball scholarship,[9] playing four NCAA Division I seasons with Rice Owls men's basketball in the Southwest Conference where he totaled 82 points and 67 rebounds in his career.[10] In 1990, he graduated with a Bachelor of Arts in managerial studies and a Bachelor of Science in mechanical engineering.[11] He earned a Master of Business Administration (MBA) from Harvard Business School in 1994.[12]

Career

Early career

After graduating from Rice in 1990, Youngkin joined the investment bank First Boston,[11] where he handled mergers and acquisitions and capital market financing.[13] The company was bought out by Credit Suisse and became Credit Suisse First Boston; Youngkin left in 1992 to pursue an MBA.[14][11]

In 1994, after receiving his MBA, he joined the management consulting firm McKinsey & Company.[14][11][15]

The Carlyle Group

In August 1995,[15] Youngkin joined the private-equity firm The Carlyle Group, based in Washington, D.C.,[14] initially as a member of the U.S. buyout team.[11] In 1999, he was named a partner and managing director of Carlyle.[16][17] He managed the firm's UK buyout team (2000–2005)[11][18] and global industrial sector investment team (2005–2008), dividing his time between London and Washington.[16][19]

In April 2008, Carlyle's founders asked Youngkin to step back from deal-making to focus on the firm's broader strategy.[3][20] In 2009 the founders created a seven-person operating committee, chaired by Youngkin, which oversaw the non-deal, day-to-day operations of Carlyle.[20][21] In 2009 Youngkin also joined, along with Daniel Akerson, the firm's executive committee, which had previously consisted solely of the three founders.[21][22]

When Carlyle's chief financial officer Peter Nachtwey left suddenly in late 2010, Youngkin became interim CFO[23] until Adena Friedman was hired as CFO late March 2011.[24] In 2010, Youngkin joined the firm's management committee.[25][20] Youngkin was chief operating officer of the Carlyle Group from March 2011 until June 2014.[26]

Youngkin played a major role in taking Carlyle public, supervising the initial public offering.[20][27][28][23][29][30]

In June 2014, he became co-president and co-chief operating officer with Michael J. Cavanagh, who joined the Carlyle Group from JPMorgan Chase.[31][32] Together they helped develop and implement the firm's growth initiatives and managed the firm's operations on a day-to-day basis.[33] Cavanagh left the firm in May 2015 to become CFO of Comcast, leaving Youngkin as president and COO of Carlyle.[34]

Co-CEO

In October 2017, the Carlyle Group announced that its founders would remain executive chairmen on the board of directors but step down as the day-to-day leaders of the firm; they named Youngkin and Kewsong Lee to succeed them, as co-CEOs, effective January 1, 2018.[3] As co-CEOs, Youngkin oversaw Carlyle's real estate, energy, infrastructure businesses, and investment solutions businesses; Lee oversaw the firm's corporate private equity and global credit businesses.[35][36] Youngkin and Lee also joined the firm's board of directors when they became co-CEOs.[30]

During Youngkin and Lee's tenure as co-CEOs, they oversaw the firm's transition from a publicly traded partnership into a corporation.[37][38][39]

Bloomberg News described the co-CEO relationship as "awkward ... and increasingly acrimonious" and Lee gained sole control after 2 1⁄2 years.[29] In July 2020, Youngkin announced that he would retire from the Carlyle Group at the end of September 2020, stating his intention to focus on community and public service efforts.[40][37] In 2020, Youngkin and his wife founded a nonprofit, Virginia Ready Initiative, focusing on connecting unemployed people in the state with job-training programs and potential employers.[41][42][43][44]

2021 gubernatorial election

Main article: 2021 Virginia gubernatorial election
Final results by county and independent city:
Glenn Youngkin
  •   Youngkin—80–90%
  •   Youngkin—70–80%
  •   Youngkin—60–70%
  •   Youngkin—50–60%
Tie
  •   Tie—50%
  •   Snyder—50–60%
  •   Snyder—60–70%
  •   Snyder—70–80%
  •   Snyder—>90%

In January 2021, Youngkin announced that he would seek the Republican Party's nomination for governor of Virginia.[45][6] A first-time candidate, Youngkin's vast personal wealth gave him the ability to self-fund his candidacy,[46][47] and he spent at least $5.5 million of his own money on his primary campaign.[48]

Youngkin won the Republican Party of Virginia's state convention on May 10, 2021, after multiple rounds of ranked-choice voting across 39 locations across the state, becoming the party's nominee for Virginia governor. He defeated six other candidates.[48] All the Republican candidates, including Youngkin, stressed their allegiance to Donald Trump and Trumpism,[47] although other candidates for the nomination, such as state senator Amanda Chase, were the most vocally pro-Trump.[49] Trump endorsed Youngkin after he captured the party's nomination.[49] After securing the primary, Youngkin has sought to distance himself from some of Trump's most ardent supporters[50] with The New York Times writing that Youngkin has sought to localize the race.[51] In a radio interview, Trump claimed that to win, Youngkin must further embrace the "MAGA movement."[52][53] Youngkin has openly courted both anti- and pro-Trump supporters.[54]

File:Glenn Youngkin campaign sign.jpg
Campaign sign for Youngkin

When seeking the Republican nomination for governor, Youngkin for months refused to acknowledge that Joe Biden had won the presidency legitimately. Youngkin dodged or deflected questions on the subject, which became an issue due to Trump's refusal to accept defeat by Biden. After winning the Republican nomination, Youngkin stated that Biden was the legitimate president,[55][56] although he has continued throughout his campaign to entertain conspiracy theories about the 2020 election and has employed campaign surrogates who deny the legitimacy of Biden's presidency.[57][58][59]

Youngkin made a campaign appearance with Mike Pence in August.[60] Former Trump advisor Steve Bannon spoke at an October event for Republican candidates in Virginia, which Youngkin did not organize nor participated in.[61] Youngkin later called it "weird and wrong" when that rally opened with attendees pledging allegiance to a flag that had flown, in the words of the rally's emcee, "at the peaceful rally with Donald J. Trump on Jan. 6."[62] When asked by Axios during the campaign whether he would have voted to certify Biden's election had he been a member of Congress at the time, Youngkin initially refused to answer. A few days later, Youngkin's campaign released a statement confirming that Youngkin would have voted to certify Biden's election.[63] Youngkin has continued to emphasize "election integrity" as a major campaign issue and supports stricter voting laws, such as a photo ID requirement.[64][65]

During Youngkin's primary campaign, he pledged to "stand up against all of the legislation that has been passed by the Democrats" and to be an opponent of abortion.[66] He spoke out against gun legislation that Democrats had passed, including expanded background checks, handgun purchase limitations and red flag laws.[66] After winning the nomination, he de-emphasized these social issues, seeking to appeal to suburban swing voters.[66] In July, he was caught on a hot mic telling an activist that he would limit his comments about abortion during the campaign so that he would not alienate independent voters.[67][68] Also in July, the National Rifle Association (NRA) declined to endorse Youngkin after he refused to confirm his position on gun rights by not filling out their candidate survey.[69] In September, a Democratic-aligned group began running ads in conservative parts of Virginia, which seek to diminish Republican turnout by attacking his lack of an endorsement from the NRA.[70]

Youngkin supports the COVID-19 vaccine, but opposes mask and vaccine mandates.[71] He supports eliminating the grocery tax, suspending the gas tax increase, offering a one-time rebate on income tax, doubling the standard deduction on income tax, cutting the retirement tax on veterans' income, and implementing voter approval for any additional increase to local property taxes, which the Associated Press has called the "most wide-ranging and detailed" plan of his campaign.[72]

He will face the Democratic nominee, former governor Terry McAuliffe, in the general election. On July 12, 2021, Youngkin refused to meet with McAuliffe in the Virginia Bar Association (VBA) debate, citing his objection to the moderator, Judy Woodruff, for a donation she made to the Clinton Bush Haiti Fund in 2010. The VBA had held a gubernatorial debate every election year since 1985. Youngkin has committed to three future debates with McAuliffe.[73] McAuliffe and Youngkin had their first debate on September 16, 2021, hosted by the Appalachian School of Law.[74] Youngkin criticized the Texas Heartbeat Act, which bans most abortions after the sixth week of pregnancy, stating he instead favors a "pain threshold bill," which occurs around twenty weeks.[75][76]

Youngkin's campaign has placed significant emphasis on the issue of education.[77][78][79] The campaign opposes protections for transgender students in Virginia public schools and is against what Youngkin has characterized as the pervasive teaching of critical race theory in the state.[77][78][79] Fact-checkers found no evidence that critical race theory was part of state curriculum standards and little evidence of it being taught in classrooms.[80][81] He has called for campus police to be stationed at every school in Virginia, as part of his final pitch, following a sexual assault in a Loudoun County school.[82][83]

Additional comments by Youngkin on the issue of education have been ranked false by fact-checkers. These include Youngkin's false accusation that his opponent, McAuliffe, would remove "the Pledge of Allegiance and the Fourth of July from curriculum" in schools,[84] and Youngkin's false accusation that McAuliffe asked President Biden "to dispatch the Department of Justice and the FBI to try to silence parents in Virginia".[85]

Asked if he accepts the scientific consensus on the causes of climate change, Youngkin said he does not know what causes climate change and that the cause ultimately does not matter.[86] Youngkin does support climate change adaptation efforts such as building additional seawalls.[86][87] He said he would not have signed Virginia's Clean Economy Act (which calls for Virginia’s carbon emissions to reach net zero by 2050) because he believes it would increase utility prices.[86]

Personal life

File:Glenn Youngkin (50929467593).jpg
Youngkin with his wife Suzanne, 2021

Youngkin lives in Great Falls, Virginia with his wife Suzanne and their four children.[88] As of September 2021, he had an estimated net worth $440 million.[89] He is a Christian and previously served on the vestry of Holy Trinity Church in McLean, Virginia.[90] He stands 6 feet 7 inches (201 cm) tall.[91]

References

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Party political offices
Preceded by Republican nominee for Governor of Virginia
2021 		Most recent
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