Tag Archives: Meg Whitman

Back in February Meg Whitman formed an exploratory committee to become a candidate as the Governor of California. Whitman has personal wealth of $1.1 billion, made mostly through her tenure as the eBay CEO. She worked as the eBay CEO from March 1998 to November 2007. During the last presidential election, she personally endorsed John McCain. She served as the national co-chair for the McCain campaign.

Two of the biggest mistakes Whitman made while working at eBay was the acquisition of Skype and failing to compete in China. eBay is trying to sell off Skype, but is being sued by the founders of the company at the same time of patent issues. Below is an excerpt of her speech on her campaign website:

eBay was the culmination of my business career. It’s the place where I tested my years of experience and honed my leadership skills. But it was also much more.
At eBay, I helped millions of people create small businesses in the marketplace. I became intimately familiar with the challenges small businesses face in this country.

I came to understand that job creation is dependent on a fragile mix of circumstances – circumstances all too often disrupted by the intrusive hand of government.
And I came to love the inspired individual – a person set free to pursue his or her dreams by an open marketplace and a free society.

Government does not create wealth in this country – inspired individuals create wealth. Helping those people succeed on eBay was the privilege of a lifetime. My interest in public service blossomed from my years at eBay. It’s an interest that was fueled by my parents, both of whom served their country in the Pacific during World War II. And it’s an interest that was inspired by my long friendships with Mitt Romney and John McCain.

On January 3, 2011, Governor Arnold Schwarzenegger will be stepping down as the Governor of California as he is serving his second term right now.  Schwarzenegger represents the Republican party.  There was speculation for quite some time now that Meg Whitman, former eBay CEO, will run for office of the Governor of California.  Today it has been confirmed.

Margaret Cushing “Meg” Whitman was President and CEO of eBay from March 1998 to March 2008.  Through eBay, Whitman was worth $1.4 billion in 2007 based on her position.  She was also listed on the Forbes Top 100 Most Powerful Females at one point.  She is no longer on the Forbes list though.

Whitman made it official by forming an exploratory committee.  She will be facing off against Steve Poizner.  Poizner is currently the State Insurance Commission of California.  Poizner founded SnapTrak, Inc. and Strategic Mapping, Inc.  SnapTrak was sold to Qualcomm for $1 billion in 2001.

Former California Governor Pete Wilson will serve as Campaign Chairman for Whitman’s Exploratory Committee.

“After careful consideration and with tremendous loyalty to our Golden State, I have formed an Exploratory Committee, the first step in the process of running for Governor in 2010,”  stated whitman. “California faces challenges unlike any other time in its history — a weak and faltering economy, massive job losses, and an exploding state budget deficit. California is better than this, and I refuse to stand by and watch it fail. Now is the time for people across the state to join in a cause for change, excellence and a new California.”

When Whitman joined eBay as CEO, the company grew from 30 employees with $4.7 million in revenues and 300,000 users to 15,000 employees, $8 billion in revenues, and over 300 million registered users.  About 12 million of eBay’s users are from California.

McCain’s Endorsement during 2008 Presidential debates
During the 2008 Presidental debates this past October, John McCain endorsed Meg Whitman as being a good candidate for the Treasury secretary.  “Meg Whitman was CEO of a company which started with 12 people,” stated McCain.  eBay founder Pierre Omidyar replied on his Twitter, “Ahem. Started with 12 people?” (see image below).  Whitman joined McCain’s presidential campaign last year as the national co-chair.