In the heart of the Abbotsford housing project where he grew up, multimillionaire businessman Tom Knox declared his candidacy in the 2007 Philadelphia mayoral race yesterday.
The announcement was held in front of a Tastykake distribution center. Knox appeared with his wife, one of his sons and their Louis Vuitton-leashed dog, Lily.
Knox served as deputy mayor under Ed Rendell in the 1990s.
He faces U.S. Representative Chaka Fattah, former City Councilman Michael Nutter and city controller Jonathan Saidel. Others are expected to declare their candidacies soon.
Knox's promoted his contribution to balancing the city's budget, which he said went from a $250 million deficit to a $10 million surplus under his tenure.
After resigning from his position as chief executive officer of UnitedHealthcare in January, Knox said he is now ready to commit to a life of public service.
"He always talked about wanting to do this, but he never had an opportunity before because he's been working," Knox's wife, Linda, said
Though his candidacy only became official after yesterday's declaration to the crowd of over 100 people, Knox has already taken the lead in campaign cash, setting aside $5 million of his personal savings for the race.
In comparison, Fattah has raised $385,000 for his campaign. Nutter has raised just under $1 million, according to Thenextmayor.com.
Despite his personal fortune, the former insurance executive said he chose his home neighborhood over ritzier options to honor his childhood ties with the area.
"I'm proud to be a son of the Abbotsford projects and a product of poverty," he said.
Saying that he was voted 'Least Likely to Succeed' in high school, Knox acknowledged the hardships of overcoming a childhood spent in destitution.
Local supporters who attended the rally, such as East Falls resident Thomas Hayes, said that Knox's background made him stand out among other candidates.
"Even though he has money now, I feel like he can still relate to us," Hayes said.
Knox said that his main goal if he were elected mayor would be to "take the 'For Sale' sign off of City Hall" by battling corruption.
Knox said he hopes to encourage students from Philadelphia universities - like Penn - to remain in the city after graduation by using his experience as a businessman to draw more companies into Philadelphia that can offer high-paying jobs to recent graduates.
"I'd love to have [Penn students] stay in the community. I'd love to have their help," he said.
