Bill Hagerty is the founder and managing director of Hagerty Peterson & Company, LLC, a merchant bank and private equity investment firm. He has also served as an economic advisor to political figures such as President George H. W. Bush, Tennessee Governor Bill Haslam, and Mitt Romney. Hagerty was also a member of Donald Trump's presidential transition team, a group of advisors tasked with recommending presidential appointments for the incoming administration.

Bill Hagerty is running for election to the U.S. Senate to represent Tennessee. He is on the ballot in the general election on November 3, 2020. He advanced from the Republican primary on August 6, 2020.