Terry McAuliffe, the former Democratic governor of Virginia who was once the subject of a federal corruption investigation, will retire at age 77 on Wednesday, his administration announced.
McAuliffe, who served from 2003 to 2011, has a net worth of $6.4 billion, according to Bloomberg.
He will remain president of the University of Virginia, where he was a school president, and is chairman of the Virginia Democratic Party, according the statement from the governor’s office.
The announcement was made by Lt.
Ralph Northam, a former Virginia congressman, who has served as a top surrogate for Trump in the state.
Northam said McAuliffe’s retirement will not affect his work as the governor of a state that was solidly Republican for more than half a century.
He added that the timing was perfect given the state’s election and the governor will continue to work as an elected official, which he has done since leaving office in 2017.
In recent years, McAuliffe and his family have made a name for themselves in Virginia, especially in a state where political power has been concentrated in the hands of Republican leaders.
He is also the co-founder of the Progressive Policy Institute, a think tank in Washington that advocates for social and economic justice.
McAuliffe is also an avid supporter of the Republican Party.
He has praised Trump for his victory in the 2016 election and he supported the president’s decision to nominate him as attorney general.
In addition, the governor is a major donor to Republicans.
McAuliffe has received donations from more than $300,000 from the Charles G. Koch Charitable Foundation, the Koch Industries Foundation, and the John M. and Catherine T. MacArthur Foundation, according a review of federal election filings by the Associated Press.
He also received a $15,000 contribution from the Koch brothers.
His wife, Mary Pat, was the subject and co-chair of the state Democratic Party’s finance committee from 2001 to 2012.
McAuliffe was the only Virginia governor to have a state party chair for the 2016 race, and his wife was elected to the Virginia State Board of Elections in 2012.
But the pair’s political fortunes have taken a major turn for the worse in recent years.
After winning the governorship in 2010, McAuliffe was forced to resign in 2013 when a scandal involving campaign contributions to the Republican National Committee broke.
The scandal also included an indictment of McAuliffe’s former chief of staff, Kathleen Carroll, on charges of conspiracy and obstruction of justice.
She was later convicted and sentenced to six months in prison.
McAuliffe’s second term was marked by some of the most expensive and controversial spending in Virginia’s history, which came amid the opioid crisis and the state of the economy.
In June of 2017, the state House of Delegates voted to impeach McAuliffe for his role in the 2014 death of Michael Brown, a black 18-year-old, who was shot by a white police officer in Ferguson, Missouri.
The House voted to convict him of violating state law in that case, and he was later acquitted.
The case sparked a nationwide national conversation about police use of force.
McAuliffe lost the governoralty to Democratic Gov.
Mark Warner in 2019.
He later served as Virginia attorney general from 2018 to 2021, and became a member of the Senate during his tenure.
McAuliffe left office in 2021 after a series of scandals involving his administration and the Democratic Party.
In 2018, the U.S. Justice Department indicted McAuliffe and former top aide Heather Podesta on charges that they had failed to report millions of dollars in payments from a foreign political party to the state party.
Prosecutors alleged that the payments violated the Foreign Agents Registration Act.
They also alleged that they violated campaign finance laws by making campaign contributions, making false statements about their donors and failing to file disclosure reports.
The indictments also accused McAuliffe of violating campaign finance law by accepting campaign donations from lobbyists and former lobbyists, a practice known as shadow lobbying.
McAuliffe pleaded guilty to the charges in 2019, but the Justice Department later dropped those charges, and charges against him were dismissed.