Pete Ricketts

Pete Ricketts
Born	John Peter Ricketts 19 8, 1964
Birthplace	Nebraska City, Nebraska, U.S.
Nationality	American
Occupation	Politician, businessman
Known for	40th Governor of Nebraska, U.S. Senator from Nebraska
Education	University of Chicago (BA, MBA)
Children	3
Awards	2016 World Series champion (as co-owner of the Chicago Cubs)

John Peter "Pete" Ricketts (born August 19, 1964) is an American businessman and politician serving as the junior United States senator from Nebraska since January 2023. A member of the Republican Party, Ricketts previously served as the 40th Governor of Nebraska from 2015 to 2023. The eldest son of Joe Ricketts, the founder of TD Ameritrade, Pete Ricketts entered public life after a career in business and finance, first running unsuccessfully for the U.S. Senate in 2006 before winning the Nebraska governor's race in 2014. As governor, he pursued tax reduction, supported capital punishment, and oversaw the state's first execution since 1997. After completing two terms as governor, Ricketts was appointed to the U.S. Senate in January 2023 by his successor, Jim Pillen, to fill the vacancy left by Ben Sasse's resignation. He won a special election in 2024 to complete the remainder of Sasse's term and is seeking reelection in 2026. Ricketts is also a part owner, along with other members of his family, of Major League Baseball's Chicago Cubs, a franchise that won the 2016 World Series during his tenure as governor.

Early Life

Pete Ricketts was born on August 19, 1964, in Nebraska City, Nebraska. He is the eldest child of Joe Ricketts, who founded the brokerage firm that became TD Ameritrade, and Marlene Ricketts. He grew up in a family that would become one of the most prominent in Nebraska's business and civic life. His siblings include Tom Ricketts, who serves as chairman of the Chicago Cubs; Todd Ricketts, who has been involved in Republican politics and party fundraising; and Laura Ricketts, a lawyer and philanthropist who has been active in Democratic Party politics.

The Ricketts family's rise from modest roots in Nebraska to national prominence was closely tied to Joe Ricketts's entrepreneurial success. The elder Ricketts founded First Omaha Securities in 1975, which eventually grew into TD Ameritrade, one of the largest online discount brokerage firms in the United States. The family's wealth and business acumen placed Pete Ricketts in a position to pursue both business ventures and public service. The family's collective ownership stake in the Chicago Cubs, purchased in 2009, further raised the Ricketts name in American sports and business circles.

Growing up in Nebraska, Ricketts developed an affinity for the state's agricultural and small-town character, themes that would later define much of his political career. His upbringing in a family of entrepreneurs influenced his fiscally conservative political philosophy, which he would carry into both his gubernatorial and senatorial campaigns.

Education

Ricketts attended the University of Chicago, where he earned a Bachelor of Arts degree. He subsequently returned to the university's Booth School of Business, where he earned a Master of Business Administration degree. His education at the University of Chicago, known for its rigorous economics program and free-market academic tradition, helped shape the fiscal conservatism that became a hallmark of his political identity. Following his MBA, Ricketts entered the business world, working in the financial services industry connected to his family's enterprises.

Career

Business Career

Before entering politics, Ricketts worked in business, primarily in the financial services sector. He was involved with TD Ameritrade, the brokerage firm founded by his father, Joe Ricketts. His business background gave him experience in corporate management and finance, which he would later emphasize as qualifications for public office. Alongside other members of the Ricketts family, he became a part owner of the Chicago Cubs when the family purchased the Major League Baseball franchise in 2009. The Cubs went on to win the 2016 World Series, ending a championship drought of 108 years.

2006 U.S. Senate Campaign

Ricketts made his first bid for public office in 2006, running for the United States Senate seat held by incumbent Democrat Ben Nelson. The race drew national attention in part because of Ricketts's personal wealth and his willingness to invest significant sums of his own money into the campaign. According to the Center for Responsive Politics, the 2006 Nebraska Senate race was among the most expensive in the state's history.

Despite his substantial campaign spending, Ricketts faced an uphill battle against Nelson, who was a popular incumbent with crossover appeal among Nebraska voters. The race featured debates over fiscal policy, immigration, and national security issues. Ricketts ultimately lost to Nelson in the November general election. After the defeat, Ricketts reflected on the experience and signaled his continued interest in public life.

Governor of Nebraska (2015–2023)

2014 Election

Ricketts entered the 2014 Nebraska gubernatorial race, competing in a crowded six-way Republican primary. He narrowly won the primary, securing the Republican nomination, and went on to win the general election to become the 40th Governor of Nebraska. He was sworn into office on January 8, 2015, succeeding Dave Heineman. Mike Foley served as his lieutenant governor throughout both terms.

Upon taking office, Ricketts outlined his vision for the state, emphasizing tax relief, government efficiency, and economic development.

Legislative Agenda and Vetoes

Ricketts's tenure as governor was marked by a series of policy battles with the Nebraska Legislature, which is the only unicameral state legislature in the United States and operates on a nonpartisan basis. The 2015 legislative session proved consequential and set the tone for Ricketts's relationship with the legislature.

One of the most notable confrontations came over the issue of driver's licenses for young immigrants who had been brought to the United States as children, often referred to as "Dreamers." The Nebraska Legislature passed a bill allowing these individuals to obtain driver's licenses, and Ricketts vetoed the measure. However, the legislature overrode his veto, enacting the law over his objections.

Similarly, the legislature passed a gas tax increase to fund road and infrastructure improvements. Ricketts vetoed the gas tax hike, but the legislature again overrode his veto, enacting the increase into law.

The 2015 session overall left a significant mark on Nebraska policy, with the legislature asserting its independence on several key issues.

Capital Punishment

Capital punishment became a defining issue of Ricketts's governorship. In 2015, the Nebraska Legislature voted to repeal the death penalty in the state, overriding Ricketts's veto. Ricketts was a firm supporter of capital punishment and actively worked to restore it. He supported a petition drive to place the issue on the ballot, allowing Nebraska voters to decide the matter directly. Ricketts denied being a direct sponsor of the petition drive but was closely associated with the effort to restore the death penalty.

In the November 2016 general election, Nebraska voters chose to retain the death penalty, effectively overturning the legislature's repeal. Under Ricketts's administration, the state resumed carrying out executions. In 2018, Nebraska performed its first execution since 1997, a development that drew both support from proponents of capital punishment and criticism from opponents.

2018 Reelection

Ricketts ran for reelection in 2018 and won a second term as governor. During his second term, he continued to pursue tax cuts and budgetary conservatism while also focusing on workforce development, agriculture, and trade issues of particular importance to Nebraska.

Chair of the Republican Governors Association

Ricketts served as chair of the Republican Governors Association (RGA) on two occasions. He first held the position from November 29, 2018, to November 21, 2019, succeeding Bill Haslam and being succeeded by Greg Abbott. He served a second stint as RGA chair from November 19, 2021, to November 17, 2022, this time succeeding Doug Ducey and being succeeded by Kim Reynolds. In these roles, Ricketts helped coordinate campaign strategy and fundraising for Republican gubernatorial candidates across the country.

U.S. Senate (2023–present)

Appointment

Ricketts's second term as governor expired on January 5, 2023. One week later, on January 12, 2023, he was appointed to the United States Senate by his gubernatorial successor, Jim Pillen. The appointment filled the vacancy created by the resignation of Ben Sasse, who left the Senate to become president of the University of Florida. Ricketts was seated alongside Nebraska's senior senator, Deb Fischer.

2024 Special Election

In 2024, Ricketts won a special election to complete the remainder of Sasse's Senate term, securing his position through the ballot box after initially being appointed.

Senate Tenure

As a senator, Ricketts has focused on issues including agriculture, tax policy, and national security. He has been a vocal advocate for Nebraska's agricultural sector, writing in support of policies to boost biofuels, expand agricultural exports, and pass year-round E15 legislation, as well as working families tax cuts. He has also emphasized the importance of agriculture as a core part of Nebraska's economy and community life.

2026 Reelection Campaign

Ricketts is running for reelection to the Senate in 2026. Polling has indicated a competitive race, with independent candidate Dan Osborn building support across party lines and some polls showing the race in a statistical tie.

Personal Life

Pete Ricketts is married to Susanne Shore. The couple has three children. Notably, Ricketts and Shore have different political affiliations: Ricketts is a Republican, while Shore is a registered Democrat. In February 2026, Shore announced her candidacy for a seat on the University of Nebraska Board of Regents representing the Omaha area. Ricketts publicly endorsed his wife's candidacy despite her running as a Democrat, a circumstance that drew attention from both state and national media.

Ricketts comes from a prominent Nebraska family. His father, Joe Ricketts, founded TD Ameritrade. His siblings include Tom Ricketts, chairman of the Chicago Cubs; Todd Ricketts, a Republican political figure; and Laura Ricketts, a lawyer and Democratic donor. The family's shared ownership of the Cubs has made them among the most visible ownership groups in professional sports.

Recognition

As a co-owner of the Chicago Cubs, Ricketts shared in the franchise's 2016 World Series championship, which ended the longest championship drought in major North American professional sports history.

Ricketts's service as chair of the Republican Governors Association on two separate occasions reflected his standing within the national Republican Party. His appointment to the U.S. Senate by Governor Jim Pillen in 2023 and subsequent special election victory in 2024 further established his position in Nebraska and national Republican politics.