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Kelly Loeffler

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Kelly Loeffler
United States Senator
from Georgia
Incumbent
Assumed office
January 6, 2020
Serving with David Perdue
Appointed byBrian Kemp
Preceded byJohnny Isakson
Personal details
Born
Kelly Lynn Loeffler

(1970-11-27) November 27, 1970 (age 53)
Bloomington, Illinois, U.S.
Political partyRepublican
Spouse
​
(m. 2004)​
EducationUniversity of Illinois at Urbana–Champaign (BS)
DePaul University (MBA)
WebsiteSenate website

Kelly Lynn Loeffler (/ˈlɛflər/; born November 27, 1970) is an American politician serving as the junior United States Senator from Georgia since 2020. A member of the Republican Party, Loeffler previously served as chief executive officer (CEO) of Bakkt, a subsidiary of commodity and financial service provider Intercontinental Exchange, which is owned by her husband. She is also co-owner of the Atlanta Dream, of the Women's National Basketball Association (WNBA).

On December 4, 2019, Georgia Governor Brian Kemp selected Loeffler as the successor to Senator Johnny Isakson, who announced his intention to resign at the end of 2019 for health reasons. She was sworn into office on January 6, 2020. Loeffler is running in the special Senate election to take place in late 2020.

Early life and career

Loeffler was born in Bloomington, Illinois, and raised on her family's corn and soybean farm in Stanford, Illinois.[1][2] In 1988, she graduated from Olympia High School in Stanford.

In 1992, Loeffler graduated with a Bachelor of Science in marketing from the University of Illinois at Urbana–Champaign's Gies College of Business, where she was a member of the Alpha Gamma Delta sorority.[3] After college, she worked for Toyota as a District Account Manager.[4][5] In 1999, Loeffler graduated with a Master of Business Administration (MBA) in international finance and marketing from DePaul University's Kellstadt Graduate School of Business.[2][3] She financed her graduate school tuition by mortgaging land inherited from her grandparents.[6] After earning her MBA, Loeffler worked for Citibank, William Blair & Company, and the Crossroads Group.[7]

In 2002, Loeffler joined Intercontinental Exchange, a commodity and financial service provider, in investor relations.[8] After marrying the firm's CEO, Jeffrey Sprecher, in 2004, a courtship Sprecher described as her biggest risk "because if it didn't work out, she'd be on the short end of the stick,"[6][9] she was eventually promoted to senior vice president of investor relations and corporate communications.[10] In 2010, Loeffler bought a minority stake in the Atlanta Dream of the Women's National Basketball Association (WNBA).[2] In 2011, she and Mary Brock purchased the team from Kathy Betty.[10][11] In 2018, Loeffler became the chief executive officer (CEO) of Bakkt, a subsidiary of Intercontinental Exchange.[12]

U.S. Senate

Loeffler considered seeking the Republican nomination in the 2014 United States Senate election in Georgia but ultimately passed on the race because of Intercontinental Exchange's pending acquisition with the New York Stock Exchange.[13]

Appointment

Loeffler meeting with Mitch McConnell in December 2019
Loeffler after being sworn in as Senator by Vice President Mike Pence

In November 2019, Loeffler applied to succeed incumbent Senator Johnny Isakson, who had announced his resignation from the United States Senate, effective December 31, for health reasons. She is running in the 2020 special election for the remainder of Isakson's term.[1] The Atlanta Journal-Constitution reported that Loeffler was Governor Brian Kemp's choice for the seat, and on December 4 he announced that he would appoint her when the seat became vacant.[14][15][16]

Loeffler was sworn into the Senate on January 6, 2020.[17]

2020 Senate election

Main article: 2020 United States Senate special election in Georgia

Loeffler is running to serve the remaining two years of Isakson's term. She plans to spend $20 million of her own money on her campaign.[18] She is the first female senator in 97 years to represent Georgia in the Senate and first Republican woman to do so. Under Georgia's election law, all candidates for the seat (regardless of political party) will compete in a nonpartisan blanket primary. If no candidate wins over 50% of the vote, the top two finishers will participate in a runoff election in January.[19] Among others, Loeffler faces U.S. Representative Doug Collins, a Republican who represents Georgia's 9th congressional district and gained attention as Ranking Member of the House Judiciary Committee. Loeffler's candidacy is backed by the National Republican Senatorial Committee (NRSC), the Senate Republicans' campaign arm, as well as several senior Senate Republicans.[20]

Tenure

Committee assignments

Loeffler serves on the following committees:[21]

Caucuses

Stock trading

See also: 2020 Congressional insider trading scandal

On March 19, 2020, the public release of federal financial disclosure documents showed that Loeffler and her husband, chairman and CEO of International Exchange, the corporation that owns the New York Stock Exchange, Jeffrey Sprecher, had sold stock in companies vulnerable to the COVID-19 pandemic with an aggregate value of several million dollars. Loeffler has denied any wrongdoing, saying the trades were made by a third-party advisor and that she learned about them only after they occurred.[22] The disclosures included that between January 24 and February 14, the couple sold between $1.275 and $3.1 million worth of stock in 27 companies, while buying stocks worth between $450,000 and $1 million, including in Citrix, a collaboration software company.[23][24]

On March 20, 2020, the government watchdog group Common Cause filed complaints with the Justice Department, the Securities and Exchange Commission and the Senate Ethics Committee for possible violations of the STOCK Act and insider trading laws in the matter of stock sales by Loeffler and two other Republican senators, Richard Burr and James Inhofe, along with Democratic senator Dianne Feinstein.[25] On April 1, it was reported that Loeffler and Sprecher had sold at least $18.7 million in Intercontinental Exchange stock before the 2020 stock market crash.[26] On April 8, The Wall Street Journal reported that Loeffler and Sprecher would be selling individual stocks in an effort "to move beyond the distraction" caused by trades they made before and during the market decline caused by the novel coronavirus.[27] On May 26, the Department of Justice announced that it had closed its inquiry into Loeffler.[28]

Political involvement

Donations

According to the nonpartisan Center for Responsive Politics, Loeffler and her husband, Jeffrey Sprecher, have donated $3.2 million to political committees. Most of these donations have gone to the Republican Party, but some have gone to Democrats,[29] including Representative David Scott (GA–13), who received $10,200.[30] Loeffler donated $750,000 to Restore Our Future, a Super PAC supporting former Governor Mitt Romney's 2012 presidential campaign.[1] The National Republican Senatorial Committee received $247,500 from Loeffler and her husband.[30]

In May 2020, Sprecher gave $1 million to a Trump 2020 reelection super PAC.[31] It was Sprecher's largest ever federal political donation.[32]

Positions

Loeffler describes herself as a conservative Republican.[33] She supports the reelection of President Donald Trump.[34] As of July 2020, Loeffler has voted in line with President Trump's stated position on legislative issues 100% of the time, according to FiveThirtyEight.[35]

Loeffler opposes abortion and has said she will vote for anti-abortion legislation.[36][37][38] Although the Susan B. Anthony List initially opposed Loeffler's appointment, it endorsed her in the 2020 election.[39][40][37] Loeffler has said she supports gun owners' Second Amendment rights and constructing a border wall along the Mexico–United States border.[41] She supports the appointment of conservative judges to federal courts.[42]

In a July 2020 letter to the WNBA, Loeffler stated her opposition to the Black Lives Matter movement.[43] She opposed the WNBA's plans to honor the movement. She said that honoring Black Lives Matter "undermines the potential of the sport and sends a message of exclusion." and that the movement "has advocated for the defunding of police, called for the removal of Jesus from churches and the disruption of the nuclear family structure, harbored anti-Semitic views, and promoted violence and destruction across the country."[44] Her comments led some WNBA players to call for her removal from ownership.[45]

Personal life

Loeffler is a Christian.[46] In 2004, Loeffler married Intercontinental Exchange founder and CEO Jeffrey Sprecher.[8] They live in Tuxedo Park, Atlanta,[47] in a $10.5 million, 15,000-square-foot (1,400 m2) estate named Descante, bought in the most expensive residential real estate transaction ever recorded in Atlanta.[5]

See also

References

  1. ^ a b c Bluestein, Greg (November 18, 2019). "Georgia Senate: A high-profile executive raises her hand for Isakson's job". The Atlanta Journal-Constitution. Retrieved November 29, 2019.
  2. ^ a b c Hiskey, Michelle (June 4, 2011). "Risk, hoops memories entice new Dream owner Loeffler". The Atlanta Journal-Constitution. Retrieved November 29, 2019.
  3. ^ a b Denery, Jim (December 2, 2019). "Who is Kelly Loeffler?". The Atlanta Journal-Constitution. Retrieved December 2, 2019.
  4. ^ "LinkedIn: Kelly Loeffler". Retrieved January 31, 2020.
  5. ^ a b Lichtenstein, Jesse (March 29, 2013). "Market Movers". Atlanta Magazine. Retrieved December 4, 2019.
  6. ^ a b Hiskey, Michelle (June 4, 2011). "Risk, hoops memories entice new Dream owner Loeffler". The Atlanta Journal-Constitution. Retrieved January 7, 2020.
  7. ^ "GOP Businesswoman Kelly Loeffler Appointed to Senate in Georgia". Bloomberg News. December 2, 2019. Retrieved December 4, 2019.
  8. ^ a b Meyer, Gregory (March 27, 2018). "ICE communications head Kelly Loeffler to step down at year's end". Amp.ft.com. Retrieved November 27, 2019.
  9. ^ Trubey, J. Scott; Oliviero, Helena; Joyner, Chris (December 6, 2019). "Georgia's senator Kelly Loeffler: a political novice with deep pockets". The Atlanta Journal-Constitution. Retrieved January 7, 2020.
  10. ^ a b Seward, Christopher (September 4, 2011). "Atlanta Dream changes ownership". The Atlanta Journal-Constitution. Retrieved December 2, 2019.
  11. ^ "Mary Brock And Kelly Loeffler: Running The WNBA's Atlanta Dream". Forbes.com. September 26, 2011. Retrieved November 27, 2019.
  12. ^ Tully, Shawn (August 3, 2018). "The NYSE's Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next?". Fortune. Retrieved November 29, 2019.
  13. ^ Schultheis, Emily (November 4, 2013). "WNBA owner passes on Senate run". Politico. Retrieved November 27, 2019.
  14. ^ Bluestein, Greg (November 26, 2019). "In secretive trip, Georgia governor tried to sell Trump on Senate pick". The Atlanta Journal-Constitution. Retrieved November 27, 2019.
  15. ^ Bluestein, Greg (November 29, 2019). "Georgia gov expected to tap finance exec to US Senate next week". The Atlanta Journal-Constitution. Retrieved November 29, 2019.
  16. ^ Bluestein, Greg (December 4, 2019). "Kemp taps Kelly Loeffler, financial exec, to US Senate seat". The Atlanta Journal-Constitution. Retrieved December 4, 2019.
  17. ^ Mitchell, Tia (January 3, 2020). "Vice President Pence will swear Kelly Loeffler into the Senate on Monday". Atlanta Journal-Constitution. Retrieved January 3, 2020.
  18. ^ Isenstadt, Alex. "Loeffler will cut huge check for Georgia special election". Politico. Retrieved December 4, 2019.
  19. ^ Williams, Dave (January 27, 2020). "Georgia House bill would eliminate 'jungle primary' for Sen. Loeffler". The Augusta Chronicle. Retrieved January 29, 2020.
  20. ^ Arkin, James (January 29, 2020). "Collins launches Georgia Senate bid, setting up GOP clash". Politico. Retrieved January 29, 2020.
  21. ^ Mitchell, Tia (December 19, 2019). "New Senate committees for Loeffler, Perdue announced". The Atlanta Journal-Constitution. Retrieved January 7, 2020.
  22. ^ Herb, Jeremy. "Senators' stock sales under fire after coronavirus tanked markets". CNN. Retrieved March 24, 2020.
  23. ^ David Shortell; Evan Perez; Jeremy Herb; Kara Scannell. "Exclusive: Justice Department reviews stock trades by lawmakers after coronavirus briefings". CNN. Retrieved March 30, 2020.
  24. ^ "Sen. Kelly Loeffler Dumped Millions in Stock After Coronavirus Briefing". The Daily Beast. March 20, 2020. Retrieved May 5, 2020.
  25. ^ Franck, Dan Mangan,Thomas (March 20, 2020). "Sen. Loeffler, NYSE owner CEO husband defend stock sales after her coronavirus briefing". CNBC. Retrieved April 2, 2020.{{cite web}}: CS1 maint: multiple names: authors list (link)
  26. ^ Burns, Katelyn (April 1, 2020). "Sen. Kelly Loeffler sold at least $18 million more in stocks before the coronavirus crash than previously reported". Vox. Retrieved April 2, 2020.
  27. ^ Wise, Lindsay (April 8, 2020). "Sen. Loeffler to Divest From Stocks After Criticism for Trades Ahead of Coronavirus Market Slump". WSJ. Retrieved April 17, 2020.
  28. ^ "Insider-Trading Probes Of Feinstein, Loeffler, Inhofe Closed". NPR. April 17, 2018. Retrieved May 27, 2020.
  29. ^ Lea, Brittany De (December 4, 2019). "Georgia's Kelly Loeffler and her husband have donated to Republican and Democrat candidates". FOXBusiness. Retrieved January 30, 2020.
  30. ^ a b Evers-Hillstrom, Karl (December 4, 2019). "GOP Senate appointee Kelly Loeffler has extensive history of giving to Republicans – and a few Democrats". Open Secrets. Retrieved December 4, 2019.
  31. ^ Montellaro, Zach. "Sen. Loeffler's husband cuts $1 million check to pro-Trump super PAC". POLITICO. Retrieved May 21, 2020.
  32. ^ Markay, Lachlan (May 21, 2020). "Kelly Loeffler's Husband Pours $1 Million Into Pro-Trump Super PAC". The Daily Beast. Retrieved May 21, 2020.
  33. ^ "Georgia Senate pick Kelly Loeffler introduces herself as anti-impeachment and pro-Trump". cbsnews.com. Retrieved January 30, 2020.
  34. ^ Costa, Robert (December 5, 2019). "Georgia Gov. Kemp taps business executive Kelly Loeffler for Senate seat, with an emphasis on boosting Trump". The Washington Post.{{cite web}}: CS1 maint: url-status (link)
  35. ^ Bycoffe, Aaron (January 30, 2017). "Tracking Congress In The Age Of Trump". FiveThirtyEight. Retrieved July 15, 2020.
  36. ^ Levine, Marianne. "Kelly Loeffler sworn in as new Georgia senator". POLITICO. Retrieved January 30, 2020.
  37. ^ a b "Why the Intra-GOP Fight over a Georgia Senate Seat Matters". National Review. December 3, 2019. Retrieved January 30, 2020.
  38. ^ "Kelly Loeffler works to wins over Trump, skeptical conservatives". The Washington Times. Retrieved January 30, 2020.
  39. ^ "Pro-life Susan B. Anthony List endorses eight Republican women for Congress". The Washington Times. Retrieved February 10, 2020.
  40. ^ Hellmann, Jessie (February 10, 2020). "Anti-abortion group backs Loeffler's election campaign after opposing her Senate appointment". TheHill. Retrieved February 10, 2020.
  41. ^ "Kemp picks Kelly Loeffler to fill Isakson's Senate seat". Albany Herald. December 4, 2019. Retrieved January 30, 2020.
  42. ^ Edmondson, Catie (January 28, 2020). "For Senator Kelly Loeffler, Impeachment Is an Early Proving Ground". The New York Times. ISSN 0362-4331. Retrieved February 10, 2020.
  43. ^ "Dream co-owner Kelly Loeffler critical of WNBA's Black Lives Matter initiative". ESPN. July 7, 2020. Retrieved July 7, 2020. I adamantly oppose the Black Lives Matter political movement
  44. ^ Bluestein, Greg; Felicien, Bria. "Loeffler opposes WNBA's plan to spread 'Black Lives Matter' message". ajc. Retrieved July 7, 2020.
  45. ^ West, Jenna (July 7, 2020). "Players Call for WNBA to Remove Atlanta Dream Co-Owner Kelly Loeffler". Sports Illustrated.
  46. ^ "GEORGIA SENATE PICK KELLY LOEFFLER'S FULL INTRODUCTORY COMMENTS". Retrieved July 27, 2020.
  47. ^ Hirsh, Ben (October 24, 2014). "Buckhead Man Buys NYSE". buckhead.com. Retrieved December 1, 2019.
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U.S. Senate
Preceded by U.S. Senator (Class 3) from Georgia
2020–present
Served alongside: David Perdue 		Incumbent
U.S. order of precedence (ceremonial)
Preceded by United States Senators by seniority
100th 		Last
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