(November 8 – 10:25 ET) – The outcome of the presidential race may still be in doubt, but what’s not is the employment status of former Goldman Sachs CEO Jon Corzine, who won a Senate seat in New Jersey last night.

Corzine, who ran as a Democrat, reportedly outspent his opponent by a factor of 10, dropping nearly US$60 million of his personal fortune to win the seat. Poltical observers are calling it the most expensive Senate campaign in history.

Despite the massive spending the race was tight, with Corzine pulling out a slim victory on the backs of traditional Democratic supporters, winning his support from women, racial minorities, the elderly and union members. His opponent took the white male vote. Apart from his lavish spending for a job that pays little more than US$100,000 a year, Corzine also won the day with relentless campaigning.

Although he came to the fight with a reputed US$400 million fortune amassed in his days at Goldman, Corzine is a self-made man. He started at Goldman in an entry-level position back in 1975 and worked his way to the top of the firm, believed by many to be Wall Street’s finest, by 1994. His father was a farmer and an insurance salesman, his mother a public school teacher.