Sen. Kelly Loeffler is hoping for an election victory on Tuesday in the Georgia Senate runoff election, but win or lose Loeffler will be just fine financially. She is married to Jeffrey Sprecher, who, according to Bloomberg, is a billionaire, as his Intercontinental Exchange (ICE) saw its stock rise more than 22% this past year.
Sprecher is the CEO of ICE and owns a 1% stake in the company, which owns the New York Stock Exchange. The company currently has a market value of more than $63 billion. Early in the year ICE purchased Ellie Mae, a company that processes close to half of all new U.S. residential mortgages. The explosion of the housing market paired with record low borrowing costs has pushed Ellie Mae’s success, which in turn has fueled ICE’s growth. The success of ICE this year has been enough to push Sprecher into the billionaire category.
Loeffler is in the final days of her Senate runoff campaign against Democrat Raphael Warnock with election day on Jan. 5. Loeffler took office after Georgia Sen. Johnny Isakson retired in 2019 and Gov. Brian Kemp appointed her to fill his place.
Throughout her campaign, Loeffler has faced criticism from Democrats about her family’s wealth. She also was the focus of investigations by the Justice Department and Senate Ethics Committee after she sold stock shares following a briefing on the coronavirus. The briefing and sale of shares came just before the pandemic caused a market crash. Both the Senate and Justice Department ended up dropping their investigations after failing to find any wrongdoing.
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