Billionaire Dem J.B. Pritzker Announces Run For Governor

By Stephen Gossett in News on Apr 6, 2017 2:51PM

Getty Images / Photo: Scott Olson

Update, 3:30 p.m.:

J.B. Pritzker made his candidacy official on Thursday afternoon. "What’s happening now in Springfield is offensive to our values and who we are as a state," he said in his announcement. "Bruce Rauner’s failure as Governor isn’t just about numbers, it’s creating real damage every day to people across Illinois." The Illinois Republican party pushed back, saying Pritzker would institute a tax hike without bringing reform.

Original:
The race for Illinois governor is about to get more crowded and even more flush with private equity. Billionaire venture capitalist and business owner J.B. Pritzker is expected to formally announce his candidacy for the state's top executive office, according to reports.

The move was largely expected in Illinois political circles, especially after Pritzker, a Democrat, filed an exploratory committee to run, back in March. Among the wealthiest people in the state, Pritzker at the moment has a net worth of $3.4 billion, according to Forbes. A potential face-off with incumbent Republican Bruce Rauner, who's donated tens of millions of his own money to re-election campaign, would mean a head-to-head of Grand Canyon-deep private-money pockets.

But Pritzker will face a crowded Democratic field in the primary. Chicago Ald. Ameya Pawar (47th Ward) is so far the progressive pick. Another wealthy businessman with name recognition, Chris Kennedy, previously announced his candidacy. State Sen. Daniel Biss and Madison County school superintendent Bob Daiber are in as well on the Democratic side.

According to Politico, Priitzker's platform will likely include "support for a $15 minimum wage, expansion of early childhood education and a major shift in the state’s tax system."

According to the Sun-Times, who first reported the story, Pritzker will make his formal announcement at 2 p.m. at Grand Crossing Gym.