Ex-Hill Int'l CEO David Richter may run for 2020 US Congress race
Hill founder's son led $140m divestiture of construction claims business before exiting the NYSE-listed American giant in 2017
David Richter, former chief executive officer and president of America’s New York Stock Exchange-traded construction company Hill International, said he has started 'to explore' a run for the US Congress as a Republican in 2020 from New Jersey’s Second District, which President Donald Trump won by 14,830 votes in 2016.
The construction boss, a recognisable figure in the Middle East’s construction industry, reportedly planned to attend the New Jersey Republican Party (NJGOP) Summit, held on 1-2 March in Atlantic City, to meet local chairmen and party leaders to discuss his Congress ticket.
According to a report by New Jersey Globe, Richter may run a self-funded campaign challenging Rep Jeff Van Drew, a democrat that has previously spent 17 years as part of the New Jersey Legislature.
Commenting on his Congress move in a LinkedIn update, Richter said: “As I start to explore running for Congress as a Republican in New Jersey’s [Second] Congressional District, I can’t do this alone. I need all the help I can get.”
Richter spent 22 years at project management giant Hill International, which was founded by his father, Irvin E Richter, in 1976. Prior to his CEO post, the junior Richter was chief operating officer at the company, and during his 22-year tenure with the firm, oversaw Hill’s work on Middle East projects such as Riyadh Metro, Muscat International Airport, and Abu Dhabi’s Midfield Terminal Building airport project.
Before exiting Hill International in 2017, Richter also initiated and led the $140m divestiture of Hill International’s construction claims group to a private equity firm.
Richter is now chairman and CEO of Princeton, New Jersey-based Richter Capital, an asset management fund with interests in venture capital, real estate, and debt financing.
New Jersey Globe's report added that Richter’s campaign – if he decides to run – will benefit from his track record as a donator to presidential campaigns, adding that he donated $2,700 to Marco Rubio’s 2016 presidential campaign, “but nothing to Trump […] that cycle”.