Bernie Moreno Net Worth 2024, Salary, and Earnings: Bernie Moreno is a Colombian-born American businessman and Republican politician running for U.S. Senate in Ohio, with an estimated net worth of over $100 million in 2024, primarily derived from his successful auto dealership ventures and investments.
Key Takeaways
- Bernie Moreno is an American businessman and politician with an estimated net worth of over $100 million.
- He founded the Collection Auto Group and is now running for U.S. Senate in Ohio as a Republican.
- Moreno immigrated to the U.S. from Colombia as a child and became a naturalized citizen.
- His business success in auto dealerships led to significant wealth, though exact figures are unclear.
- Moreno has faced some controversies, including wage theft lawsuits and discrimination allegations.
Bernie Moreno: From Auto Mogul to Senate Hopeful
Background and Early Life
Bernie Moreno was born in February 1967 in Bogotá, Colombia. At the age of 5, his family immigrated to the United States, settling in Fort Lauderdale, Florida. Moreno’s father, a physician in Colombia, worked as a surgical assistant in the U.S., while his mother became a real estate agent. This immigrant background shaped Moreno’s perspective and drive for success in his adopted country.
Moreno became a naturalized U.S. citizen at 18, embracing the opportunities America offered. He pursued higher education at the University of Michigan, earning a Bachelor’s degree in Business Administration. This educational foundation set the stage for his future business ventures.
Career and Business Success
After college, Moreno began his career at General Motors, gaining valuable experience in the automotive industry. At 26, he moved to Boston to become the general manager of a Saturn dealership. This role honed his skills in car sales and management.
Moreno’s big break came in 2005 when he purchased a Mercedes-Benz dealership in North Olmsted, Ohio. This acquisition marked the beginning of his Collection Auto Group, which would grow into a highly successful chain of dealerships. Under Moreno’s leadership, the company won numerous awards, including the “Best of the Best” recognition for 10 consecutive years.
In 2019, Moreno began selling off many of his dealerships to focus on a new venture in blockchain technology. This shift demonstrated his ability to adapt to changing markets and technologies.
Net Worth and Financial Status
While exact figures are not publicly disclosed, Bernie Moreno’s net worth is estimated to be over $100 million. This wealth primarily stems from his success in the auto dealership business and subsequent investments. However, it’s important to note that net worth estimates for private individuals can vary and may not always be entirely accurate.
Moreno’s financial status has allowed him to self-fund portions of his political campaigns and make significant donations to causes he supports. For example, he personally donated $100,000 to a campaign against an Ohio abortion rights referendum in 2023.
Political Aspirations and Controversies
In recent years, Moreno has shifted his focus to politics, running for the U.S. Senate seat in Ohio. His campaign has positioned him as a conservative Republican, aligning closely with former President Donald Trump’s policies.
However, Moreno’s political journey has not been without controversy. He faced criticism for changing his stance on several issues, including his support for Donald Trump. In 2016, Moreno described Trump as a “lunatic” and “maniac,” but by 2024, he proudly wore Trump’s endorsement.
Moreno has also faced legal challenges related to his business practices. He settled over a dozen wage theft lawsuits prior to launching his Senate campaign, paying over $400,000 to two former employees. A state judge rebuked him for shredding documents potentially related to one case.
Additionally, Moreno faced allegations of gender and age-based discrimination in two lawsuits. His campaign responded by stating that the employees who sued now support his Senate run.
Personal Life and Family
Bernie Moreno is married to Bridget Moreno, and they reside in Westlake, Ohio. The couple has four adult children. Moreno’s family connections extend into politics, with his daughter Emily married to congressman Max Miller.
Interestingly, Moreno’s brother, Luis Alberto Moreno, has had a distinguished career in international relations, serving as the Colombian Ambassador to the United States and holding a position on the Board of Trustees at the World Economic Forum.
Latest News
Recent polls have shown some concerning trends for incumbent Senator Sherrod Brown in his race against Bernie Moreno. According to reports from early September 2024, multiple polls are indicating that Brown may be trailing in what has become an increasingly competitive contest.
This development represents a potential shift in Ohio’s political landscape. The state, which has been trending more Republican in recent years, appears to be posing a significant challenge for Brown, who has long been seen as a strong Democratic incumbent.
The tightening race has caught the attention of national political observers. Ohio’s Senate seat is viewed as crucial for both parties in their efforts to control the Senate after the 2024 elections. As a result, this race is likely to attract substantial funding and attention from both major parties and outside groups in the coming months.
Moreno’s campaign has been quick to capitalize on these poll results, framing them as evidence of growing support for his candidacy and dissatisfaction with the incumbent. However, it’s important to note that polls can fluctuate, and there’s still significant time before the election in November 2024.
This latest news underscores the competitive nature of the Ohio Senate race and suggests that it may be one of the most closely watched contests in the upcoming election cycle. Both candidates are likely to intensify their campaign efforts in response to these polling trends.
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