[10][15][16][17] Both of his parents were enthusiastic supporters of John F. Kennedy and volunteered for his campaign in the 1952 United States Senate election in Massachusetts.

[23] He rose in the ranks quickly, later attributing that success to his ability to make deals: "Two people may not like each other and can't work together.

[16][17] His business responsibilities were later expanded to encompass Germany, Switzerland, and Austria, as well as in the emerging post-Warsaw Pact economies of Central Europe.

[20] In this role he engaged in a number of transactions with the German government's Treuhandanstalt agency, whose purpose was to conduct the privatization of formerly state-owned enterprises within the boundaries of no-longer-extant East Germany.

[25] During this time Goldman Sachs profited from its investment in Yue Yuen Industrial Holdings, a shoe manufacturer that became notorious for its harsh labor practices.

[19] Labor unions opposed the recommendations, with leader Carla Katz saying, "We will fight vigorously and loudly against any cuts to our pensions or health benefits proposed by the task force.

[31] Powerful Democrats in Congress such as Charles Schumer and Rahm Emanuel opposed the strategy,[27] but Murphy refused to visibly engage in this dispute, saying, "I'm a sucker for the view that you have it out in the locker room, not in public.

"[27] Former Goldman Sachs colleague and U.S. Secretary of the Treasury Robert Rubin said of Murphy's ability to handle the new position, "He has very substantial technical expertise from his corporate finance work, but he combines that with a wonderful facility for dealing with people.

[36] That they arrived in an expensive Gulfstream V executive jet irked Chancellor Merkel, who saw it as evidence of the long practice of presidents awarding wealthy donors with ambassadorships.

[16][35] Murphy presented his credentials in Berlin to German President Horst Koehler on September 3,[37] which the State Department considers his effective start date.

[35] During his tenure, Murphy promoted American trade and focused on engaging Germany's youth through town hall meetings, exchange programs, and social media communication.

[37] He said, "The legacy of our time together in Germany will be measured by how well we 'set the table' for tomorrow, by how deeply today's youth understand the ongoing relevance of the transatlantic bridge.

[41] Murphy later said that the episode was "incredibly awkward and embarrassing" but that the two countries worked through it, and that in the end Germany-United States relations were stronger than ever.

"[17] Regarding economic differences between the nations, he said, "Germany believes strongly that the first order of business is to cut your debts and deficits and from that, good things will come.

[16][44] Instead, upon returning to the U.S. after his ambassadorship, he rejoined Murphy Endeavors LLC (a business management consultancy firm with offices in Red Bank, New Jersey, at which he was the principal).

[49] In September 2015, Murphy launched the progressive organization New Way for New Jersey, which held a number of town halls, including some by telephone on Sunday evenings, and encouraged Democrats to sign petitions critical of incumbent Governor Chris Christie.

[49] On March 2, 2016, New Way for New Jersey launched a petition that criticized Christie for neglecting his duties as governor due to his travel and support of Donald Trump's presidential campaign.

[57][58][59] Fulop and Sweeney were geographic rivals, and in terms of state party organizational support, Max Pizarro of the New York Observer characterized Murphy as "everyone's number two choice.

[61] As a result of these withdrawals Murphy became the clear front-runner for the nomination,[60] but Wisniewski and Lesniak, the two best-known remaining potential candidates, both said they still intended to run.

[64][65] On November 15, Wisniewski, who gained visibility as a leader of the Fort Lee lane closure scandal investigations, announced his run for governor.

[69] In statewide races, these designations offer favorable ballot position, which some voters pick by default, and are often central to success.

[69][70] By February 2017 Murphy was leading by a solid margin in a Quinnipiac Poll both for the Democratic nomination and in a putative general election matchup against Guadagno.

[73] Politico wrote, "Underdogs Jim Johnson, Ray Lesniak and John Wisniewski savaged the front-runner, Phil Murphy, accusing him during the 90-minute televised contest of buying off party bosses and being disingenuous on environmental issues.

[78] Additionally, he was endorsed by former Vice President Al Gore, which helped solidify Murphy's environmentalist credentials after some attacks on his role as a financier investing in fracking operations.

[82] In that campaign Guadagno ran as a moderate, attempting to avoid association with both Christie, who held a record-low approval rating for a governor, and Donald Trump.

[102] In the 2020 United States presidential election, Murphy initially endorsed New Jersey senator Cory Booker for the Democratic nomination.

[109] He defeated Republican nominee Jack Ciattarelli in the general election, albeit by much closer margin than in 2017, with his campaign harmed by the long duration of some of his COVID-19 executive orders.

[120][121] On September 8, Murphy appointed secretary of State Tahesha Way as lieutenant governor, filling the vacancy triggered by Oliver's death.

[130][131] By mid-2023, polling indicated that opinion of Murphy's governorship had become considerably more divided, with Rutgers-Eagleton and Monmouth University surveys finding that his approval ratings had fallen to 47 and 50 percent respectively.

[141] In 2022, he was given the Knight Commander's Cross of the Order of Merit of the Federal Republic of Germany[142] Murphy's position at Goldman Sachs when the firm had its IPO brought his net worth above $50 million.