Prior to his election to the Governor\'s office, Hoeven served as President of the nation\'s only state-owned bank, the Bank of North Dakota, from 1993 to 2000. He has an estimated net worth of around $45 million, making him one of the richest Senators.\n', '

Hoeven was born in Bismarck, North Dakota, the son of Patricia "Trish" (née Chapman) and John Henry "Jack" Hoeven, Jr. His ancestry includes Dutch, Swedish, and English. He attended Dartmouth College, where he belonged to the Alpha Chi Alpha Fraternity and graduated with honors. He then earned an MBA from the Kellogg School of Management at Northwestern University, and was a banker in Minot, North Dakota prior to pursuing a political career. From 1993 to 2000, he was the president and CEO of the state-owned Bank of North Dakota.\n', '

He sought the office of the Governor of North Dakota as a Republican in 2000, and he was elected, defeating Democrat Heidi Heitkamp by a margin of 55 to 45 percent.\n', '

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