Richard Tarrant (politician)
Richard E. Tarrant | |
|---|---|
| Born | August 6, 1942 Newark, New Jersey, U.S. |
| Occupation(s) | Entrepreneur, political figure |
| Known for | Founder of IDX Systems Corporation; 2006 Republican U.S. Senate candidate in Vermont |
Richard Edward Tarrant (born August 6, 1942) is an American entrepreneur and political figure. He was the Republican candidate for the U.S. Senate representing Vermont in the 2006 race, where he was defeated by incumbent U.S. Representative Bernie Sanders. Tarrant and his wife, Deborah, live in Colchester, Vermont, where he manages his philanthropic foundation.
Early life
Tarrant entered the world in Newark, New Jersey and grew up in West Orange, New Jersey. He initially attended Saint Bonaventure University as a walk-on basketball player before transferring to Saint Michael's College on an athletic scholarship. In his senior year, he earned first-team All-American recognition while leading the Purple Knights to the Final Four of the 1965 NCAA Men's Division II Basketball Tournament. Selected in the fourth round by the reigning champion Boston Celtics, he was released prior to the season’s start. He graduated from Saint Michael's in 1965 with a bachelor's degree in mathematics and began working at IBM in Burlington, Vermont, where he sold computer hardware across the region.
Business career
In 1969, Tarrant co-established Burlington Data Processing (BDP) alongside partners Robert Hoehl and later Paul Egerman, securing a loan from the Small Business Administration. The company transformed into Interpretive Data System (IDS), which eventually became IDX Systems Corporation, originally focusing on payroll and claims processing services for physicians. By 2005, IDX was providing solutions to thousands of medical offices across the U.S. as well as multiple healthcare centers in the United Kingdom.
Tarrant served as chairman of IDX’s board between 1995 and 2005. The company was acquired by General Electric in 2006 for $1.2 billion. He currently lives in Colchester, Vermont, dedicating his efforts to his charitable foundation.
He has held trustee positions at both the University of Vermont and Saint Michael's College. Additionally, he funded a new athletic facility at Saint Michael's named in honor of his parents.
Philanthropy
Together with his wife Deborah, Tarrant founded the Richard E. and Deborah L. Tarrant Foundation, which awards grants aimed at enhancing community well-being throughout Vermont with an emphasis on essential human services, education, and local initiatives. In 2005, it was listed among Vermont’s top 40 philanthropic organizations. The foundation explicitly excludes contributions to pro-choice organizations.
The foundation provided support to Milton public schools by financing a pilot initiative that allowed students to progress at individualized learning speeds. In 2007, it donated $1 million toward constructing a $1.8 million community center in Winooski, Vermont.
On December 18, 2018, the University of Vermont announced a $15 million gift from Tarrant and his family for a new multi-purpose venue accommodating the men’s basketball team, named the Tarrant Event Center. This marks the second athletic venue in Vermont carrying the Tarrant name; earlier in 1994, Tarrant contributed $5 million for St. Michael’s College’s student recreation center, which honors his parents’ legacy.
2006 campaign for U.S. Senate
In 2005, Tarrant announced his intention to run for the US Senate seat left open by Independent Senator Jim Jeffords. He won the Republican nomination in September 2006, surpassing Lt. Col. Greg Parke and activist Cris Ericson. During the general election, he competed against Independent Representative Bernie Sanders, who had secured the Democratic nomination but chose to run as an Independent. Sanders emerged victorious, defeating Tarrant by a margin of 33 percentage points.
This election became the most costly in Vermont’s history at that time, with total expenditures nearing $13 million. Tarrant contributed roughly $7 million of his personal finances, while Sanders raised and spent around $6.5 million. Tarrant’s campaign heavily relied on radio and television advertisements that highlighted his personal background and criticized Sanders.
External links
- 1942 births
- Living people
- IBM employees
- Candidates in the 2006 United States elections
- People from West Orange, New Jersey
- Politicians from Newark, New Jersey
- Politicians from Burlington, Vermont
- Saint Michael's Purple Knights men's basketball players
- Boston Celtics draft picks
- Vermont Republicans
- Businesspeople from Newark, New Jersey