Biography
John "Pete" Ricketts was born in 1964 in Nebraska City, Nebraska, into a family that would become one of the most prominent in both Nebraska business and national politics. His father, Joe Ricketts, founded what became TD Ameritrade, the pioneering online brokerage that helped democratize retail investing. Pete served as the company's Chief Operating Officer and spent much of his career in the family business before turning to politics. His family's other defining investment is the Chicago Cubs, which the Ricketts family purchased in 2009; Pete's brother Tom Ricketts led the ownership group through the Cubs' historic 2016 World Series championship, ending a 108-year drought.
Pete Ricketts ran for governor of Nebraska in 2006, losing the Republican base. He ran again in 2014, largely self-funding his campaign, and won the governorship. He served two terms as Nebraska's governor from January 2015 to January 2023, building a record as a fiscal conservative and social conservative, including strong opposition to abortion and advocacy for the death penalty in a state that had temporarily abolished it by legislative vote in 2015 — a reversal Ricketts helped fund as a private citizen before taking office.
When Ben Sasse resigned from the Senate in January 2023, Ricketts was in his final weeks as a term-limited governor. He exercised his gubernatorial appointment power to name himself to Sasse's vacant Class 2 Senate majority — an unusual but legally permissible self-appointment. He won the 2024 Republican base and general election comfortably, securing the seat for a full term through January 2027 before facing re-election in November 2026.
Pete Ricketts: From Business to Governor to Senator
Ricketts's career path — TD Ameritrade COO, failed 2006 governor race, successful 2014 governor race, self-appointment to Senate — is one of the more unusual career trajectories in modern Nebraska politics.
| Year | Role / Event | Outcome | Key Detail |
|---|---|---|---|
| 2006 | Nebraska governor primary | Lost primary | First political run; outspent opponents but lost to Dave Heineman |
| 2014 | Nebraska governor race | Won (53%) | Self-funded campaign; Heineman term-limited; Ricketts wins open seat |
| 2015–2018 | Funded death penalty ballot campaign | Death penalty reinstated | Legislature voted to abolish it; Ricketts funded the reversal initiative |
| 2018 | Re-elected governor | Won (59%) | Strong R year in NE; term-limited after this term |
| Jan 2023 | Ben Sasse resigns; Ricketts self-appoints | Appointed himself | Legally permissible but widely noted as unusual; last act as governor |
| Nov 2024 | Won full Senate term (Class 2) | Won (~66%) | Nebraska R baseline; no credible D challenge |
| Nov 2026 | Re-election (Class 2 seat) | Safe R forecast | No major threat; serves through Jan 2033 if re-elected |
- Pete Ricketts (R-NE) was appointed Nebraska senator in January 2023 after resigning as governor, then won election to a full term in 2024 by 23 points.
- Nebraska is R+15 — solidly Republican, and Ricketts faces no serious re-election threat; he is a member of the Ricketts family that owns the Chicago Cubs.
- He served as Nebraska Governor (2015-2023) for two terms, known for opposing marijuana legalization, supporting the death penalty (a position he took to the point of importing controversial execution drugs), and fiscal conservatism.
- Ricketts is a major donor to Republican causes and the Republican Party — his family has spent hundreds of millions on politics — and his appointment to the Senate was made by the governor he helped elect.
Key Policy Positions
Fiscal Conservatism
Ricketts is a traditional fiscal conservative who supports lower taxes, reduced federal spending, and regulatory relief for businesses. As governor he cut property taxes and opposed expansions of Medicaid, though Nebraska ultimately expanded Medicaid via ballot initiative in 2018 over his objections. In the Senate he has aligned with the Republican majority on budget and tax issues, supporting the extension of the 2017 Tax Cuts and Jobs Act and opposing Democratic spending proposals he argues will worsen the federal deficit and fuel inflation.
Social Conservatism
Ricketts holds strongly conservative positions on social issues. He has opposed abortion polling and supports strict abortion restrictions following the Dobbs decision. He personally funded a successful ballot initiative to reinstate the death penalty in Nebraska after the Republican-controlled legislature voted to abolish it — a notable instance of a sitting governor financially intervening in a ballot campaign. He opposes same-sex marriage and holds traditional conservative positions on gender and family policy, making him one of the more culturally conservative members of the Senate majority conference.
Agriculture & Trade
As a senator from one of the most agriculturally significant states in the country, Ricketts is a consistent advocate for Nebraska's farm economy. He supports strong farm bill funding, crop insurance programs, and trade policies that maintain market access for Nebraska's corn, soybean, beef, and pork producers. He backed the Trump administration's trade approach while also advocating for Nebraska agricultural interests where tariffs created friction. He sits on committees relevant to agriculture and energy, reflecting Nebraska's economic profile.
2026 Re-election Outlook
Pete Ricketts faces re-election in November 2026 in Nebraska's Class 2 Senate majority. Nebraska is among the most reliably Republican states at the federal level, with Donald Trump carrying it by 20-plus points in each of his three presidential campaigns. Ricketts won comfortably in 2024 and enters the 2026 elections as a significant favorite with no credible Democratic opponent on the horizon. His primary risk, if any, would come from the Republican right — though his conservative record on social and fiscal issues makes a serious primary challenge unlikely.
Watch: Ricketts on the Senate Floor Addresses Historic Nebraska Wildfires
External resources: Pete Ricketts on Ballotpedia — Pete Ricketts on Wikipedia