Republican Eric Hovde to launch Wisconsin Senate campaign against Tammy Baldwin next week

Republican businessman Eric Hovde is planning to enter the U.S. Senate race next week to challenge Democratic Sen. Tammy Baldwin, D-Wis., a contest that could help determine which party controls the chamber.

Ben Voelkel, an advisor to the Hovde campaign, confirmed the planned launch to NBC News.

Hovde’s imminent entrance into the race in battleground Wisconsin ends months of speculation over who would challenge Baldwin, a strong and well-funded incumbent.

In recent months, two other Wisconsin Republicans — Reps. Mike Gallagher and Tom Tiffany — passed on challenging Baldwin as she seeks a third term. Another GOP businessman in the state, Scott Mayer, has declined to rule out entering the race.

Hovde’s business empire includes a Madison-based real estate company as well as numerous West Coast-basedbanking companies.

He ran unsuccessfully for U.S. Senate in Wisconsin 2012, losing the Republican primary to former Gov. Tommy Thompson, who went on to lose the general election to Baldwin. Hovde also flirted with running against Baldwin again in 2018, and considered a run for governor in 2022, but decided against both races.

Since the 2012 race, Hovde has lived on and off in California — where he owns a $7-million property, in Laguna Beach— a fact that Democrats have looked to emphasize during the several months the businessman has been considering whether to launch a campaign.

“Mitch McConnell can try to bring a mega-millionaire California bank owner to Wisconsin to buy this Senate seat, but voters in this state know who will really fight for them,” Baldwin campaign spokesperson Andrew Mamo said in a statement. “We look forward to comparing Eric Hovde, a man who was named one of Orange County’s most influential people