Who is Eric Hovde? What to know about the likely candidate to challenge Tammy Baldwin

He hasn't officially entered the race to challenge Sen. Tammy Baldwin's seat in 2024, but Eric Hovde's name is at the front of the pack.

The 59-year-old multimillionaire is expected to have the backing of the National Republican Senatorial Committee, which works to get Republicans elected to the Senate.

Scott Mayer, a Franklin businessman, and former Milwaukee County Sheriff David A. Clarke Jr. are also considering Senate runs.

This isn't the first time the Madison businessman has run to represent Wisconsin in the U.S. Senate. He competed in the Republican primary to unseat Baldwin in 2012 but was defeated by former Gov. Tommy Thompson.

His name will continue to be in the news in the coming weeks, including when he's expected to officially launch his bid early this year.

Here's what to know about Hovde's profession, education and political background:

More: Eric Hovde will challenge Democrat Tammy Baldwin for Senate, NRSC chair says

What is Eric Hovde's real estate business?

Hovde is the CEO of Hovde Properties, a real estate development company founded by his grandfather in 1933.

The company's portfolio includes buildings in Janesville, Waunakee, Milwaukee, Racine and Madison with apartments, office and retail space.

What are Eric Hovde's banking businesses?

The Hovdes have three banking companies, including H Bancorp, of which Eric is CEO and chairman. The bank holding company "acquires and operates community banks throughout the United States," according to its website.

Hovde is also the CEO of Sunwest Bank, which has locations in Arizona, California, Florida, Idaho and Utah.

What is Eric Hovde's charity?

Hovde and his brother started the Hovde Foundation in 1998, in part to fund research to find a cure for multiple sclerosis.

A 2012 Milwaukee Journal Sentinel article noted Hovde himself was diagnosed with MS in 1991.

The foundation has also provided grants to organizations like the Clean Lakes Alliance, the River Food Pantry and the Madison Reading Project. It has also built homes for children in countries like Mexico and Kenya, according to its website.

What are Eric Hovde's political views?

It's a little hard to determine Hovde's current views on issues, since he hasn't yet launched a campaign website that includes his platform.

In 2020, Hovde aired a TV ad criticizing Democratic Gov. Tony Evers' stay-at-home order during the early days of the COVID-19 pandemic.

A few stances can be gleaned from his campaign in 2012, when he opposed abortion and expressed support for overturning Roe v. Wade.

Hovde also called for repealing the Affordable Care Act. That issue has reentered the debate in the 2024 presidential cycle, after former President Donald Trump said he was "seriously looking at alternatives."

The Milwaukee Journal Sentinel reported this fall that Hovde has missed voting in 17 of 30 elections in the past decade.

How much did Eric Hovde spend on his first campaign?

Hovde raised and spent $6.3 million in his 2012 primary campaign. Over 90% of that money came from his own pocket, with most of the other contributions coming from individuals.

What has Eric Hovde said about Tammy Baldwin?

In a 2012 interview with The Hill, Hovde said he "fundamentally (disagrees) with Tammy on almost everything."

"Her philosophy has its roots in Marxism, communism, socialism, extreme liberalism — she calls it progressivism — versus mine, which is rooted in free-market conservatism," he said.

The Baldwin campaign pushed back, saying she worked across party lines on issues like protecting manufacturing jobs.

Where does Eric Hovde live?

The answer to that question has already become one of Democrats' main lines of attack against Hovde.

His company's website says he resides in Madison and is married with two children. He owns a house along Lake Mendota.

But in 2018, he paid nearly $7 million to purchase an estate in Laguna Beach, California. His business impact in the state earned him a place on a list of most influential people in Orange County.

More: Bice: Eric Hovde may run for Senate in Wisconsin, but he's living large in Laguna Beach, California

When the Milwaukee Journal Sentinel asked Hovde this spring whether he spends more time in California or Wisconsin, he said he was born, raised, has a home and owns a business in Wisconsin.

Where did Eric Hovde go to school?

Hovde attended the University of Wisconsin-Madison and graduated with degrees in economics and international relations, according to a bio on his company's website.

Has the Hovde family been in politics before?

Hovde's father, Donald, served in the Reagan administration as undersecretary of Housing and Urban Development.

This article originally appeared on Milwaukee Journal Sentinel: Who is Eric Hovde? What to know about likely Tammy Baldwin challenger.