Wilbur Ross a wealthy American venture capitalist who is currently the Secretary of Commerce in the United States. He is known as the “King of Bankruptcy” not just for fun – as it was known that prior to his appointment he had a proven track record of turning businesses out of bankruptcy into a profitable one. You could say it’s because of his very good training, but it goes way beyond that. Read on to learn more about his family life, accomplishments, and net worth.
Who is Wilbur Ross?
Wilbur Louis Ross Jr. was born on November 28, 1937 in Weehawken, New Jersey, United States. His parents, Wilbur Louis Ross Sr. and Agnes O’Neill were civil servants, his father believed to have worked for the judiciary as a lawyer and later as a judge, while his mother was a schoolteacher.
He attended Xavier High School located in Manhattan and at that time Xavier High School was two hours away from his home. After Xavier High School, he continued his education at Yale’s College, the same institution his father had gone to. He eventually earned a bachelor’s degree before earning a master’s degree in business administration from Harvard University.
Career and life achievements
At Yale College, Wilbur Ross felt he had a passion for writing, he looked forward to being a successful journalist, but as he started working for Yale Literary Magazine, he didn’t. took a long time to realize that writing was not his specialty. This discovery made him switch to finance and, given the quality of his education and his excellent grades, it was not long before he found a job in banking with the Rothschilds in the late 1970s.
Over time, Wilbur Ross has developed a strong expertise in developing systems that can restructure companies and not only deleverage them, but also make them prosper. It is known that some time in the 1980s, when Ross was still with Rothschild, he saved part of Donald Trump’s casinos from closing.
However, feeling caged like most of his finances in Rothschild, Ross decided to start his own company in April 2000, which he named WL Ross & Co. In the same year, he also bought out steel companies whose
accounts were red and he named them collectively as the International Steel Company. Wilbur Ross managed to get them working again and later in 2005 sold the whole thing to Mittal Steel Company.
Building on his evident financial success, Wilbur Ross was appointed to the United States as Secretary of Commerce in President Donald Trump’s Cabinet.
Wilbur Ross’ contributions to society have made him worthy of some praise. He was awarded for helping Korea emerge from financial turmoil with the Order of Industrial Merit. He also received the American Irish Historical Society award for his contribution to Irish banking.
Additionally, Wilbur Ross played a pivotal role in strengthening the Japanese economy and deepening their ties with the United States. This eventually earned him the Order of the Rising Sun award from the Japanese government.
Family life: wife
The financial behemoth has been in 3 differentHe first married in 1961 to Judith Nodine – the mother of his children, Jessica and Amanda -, a marriage that lasted 34 years. In 1995, the same year, Ross divorced and married Betsy McCaughey, an American politician, which ended five years later.
Currently, Ross is married to Hillary Geary who he first met in a party in 1995 and later in another party in 2002. They got married on October 9, 2004 and by all accounts they seem very happy together until their departure date, regardless of age. Geary is 15 years old. years younger than Ross.
Wilbur Ross had claimed to have a net worth of nearly $3 billion, but when he was appointed United States Secretary of Commerce, his reported assets were $700 million. Additionally, Ross and his wife are known to be big fans of high-quality artwork and they own an art collection estimated at $150 million.