Wilbur Ross, Jr.

$0.60 B

Ranked #814 in World

About Wilbur Ross, Jr.

Wilbur Ross, born in 1937, is a successful businessman, investor, and former US Secretary of Commerce. He founded WL Ross & Co, a private equity firm, and has served as chairman and CEO of several companies. Ross graduated from Yale University and Harvard Law School before beginning his illustrious career. He was known for advocating "pro-sensible trade" and oversaw the challenging 2020 Census in his role as Secretary of Commerce under President Trump. Ross has a net worth of approximately $600 million and a significant art collection valued at $150 million.

Born

November 28, 1937 in Weehawken, New Jersey, U.S.

Age

88 years

Source Of Wealth

Investments

Industries

Finance And Investments

Citizenship

United States

Residence

Palm Beach, Florida

Education

Bachelor of Arts/Science, Yale University; Master of Business Administration, Harvard University

Spouse

Judith Nodine (Married: 1961; Divorced: 1995), Betsy McCaughey (Married: 1995; Divorced: 2000), Hilary Geary (Married: 2004)

Children

Wilbur Louis Ross Jr. was born on November 28, 1937, in Weehawken, New Jersey. He grew up in North Bergen, New Jersey, and attended Xavier High School. Ross went on to Yale College, where he received a Bachelor's degree in 1959. He then earned a Master of Business Administration degree from Harvard Business School in 1961.

Wilbur Ross, Jr.: Family

Wilbur Ross Jr. has been married three times and has two children. His first marriage was to Judith Nodine in 1961, and they had two children together. They divorced in 1981. Ross's second marriage was to Betsy McCaughey in 1985, and they divorced in 1995. He married his third wife, Hilary Geary Ross, in 2004.

Wilbur Ross, Jr.: Career Highlights

Wilbur Ross Jr. has had a successful career in business and finance. He joined Wood, Struthers & Winthrop in 1963 and later worked for Faulkner, Dawkins & Sullivan, where he rose to become president of its investment banking operation. In 1976, Ross joined Rothschild & Co's New York City office, where he ran the bankruptcy restructuring advisory practice. He was involved in eight of the 25 biggest bankruptcies to date, including Drexel Burnham Lambert, Texaco, and Eastern Air Lines.

In 2000, Ross founded WL Ross & Co., a private equity firm. He raised $450 million to buy the bankruptcy restructuring fund from Rothschild and make additional investments. By 2003, the firm had achieved an average 30% return. In 2006, Ross sold WL Ross & Co. to Amvescap (now Invesco).

Ross has also founded and led several other companies, including International Steel Group (ISG), International Textile Group (ITG), International Automotive Components Group (IAC), and International Coal Group (ICG).

Wilbur Ross, Jr.: Companies

Wilbur Ross Jr. has founded and led several companies throughout his career, including:

WL Ross & Co.
International Steel Group (ISG)
International Textile Group (ITG)
International Automotive Components Group (IAC)
International Coal Group (ICG)

Wilbur Ross, Jr.: Major Achievements

Wilbur Ross Jr.

has achieved significant success in business and finance. Some of his major achievements include:

Founding and leading WL Ross & Co., a successful private equity firm.
Turning around several bankrupt companies, including International Steel Group and International Textile Group.
Serving as Secretary of Commerce under President Donald Trump from 2017 to 2021.

Wilbur Ross, Jr.: Awards & Achievements

Wilbur Ross Jr. has received numerous awards and honors for his contributions to business and finance. Some of his notable awards include:

Order of Industrial Service Merit medal from South Korea
American Irish Historical Society Gold Medal
Turnaround Management Association's Lifetime Achievement Award
Ellis Island Medal of Honor

Wilbur Ross, Jr.: Personal Life & Legacy

Wilbur Ross Jr. is a prominent figure in the business world and has made significant contributions to the economy. He is known for his success in turning around bankrupt companies and his advocacy for free trade. Ross is also a philanthropist and has donated millions of dollars to various charities and educational institutions.

Wilbur Ross, Jr.: Trivia

Wilbur Ross Jr. is an avid art collector and owns a significant collection valued at $150 million.
He is a member of the Republican Party and has been a vocal supporter of President Donald Trump.
Ross is a licensed pilot and enjoys flying his own plane.
He is a graduate of Yale University and Harvard Business School.
Ross has served on the boards of several companies, including General Motors, Chrysler, and Bank of America.

Wealth History

Timeline

November 28, 1937

Wilbur Louis Ross Jr. is born in Weehawken, New Jersey.

1959

Ross receives a Bachelor's degree from Yale University.

1961

Ross earns a Master of Business Administration degree from Harvard Business School.

1963

Ross joins Wood, Struthers & Winthrop.

April 2000

Ross founds WL Ross & Co after leaving Rothschild & Co.

February 2002

Ross founds International Steel Group (ISG).

2004

Ross acquires Burlington Industries and combines it with Cone Mills to form International Textile Group (ITG).

2006

Ross forms International Automotive Components Group (IAC) with Franklin Templeton Investments.

2006

Ross founds International Coal Group (ICG).

November 30, 2016

Ross is nominated by President-elect Donald Trump to be United States Secretary of Commerce.

February 27, 2017

Ross is confirmed by the Senate in a 72–27 vote.

February 28, 2017

Ross is sworn into office as the 39th United States Secretary of Commerce.

December 2017

Ross states that Brexit is a 'God-given opportunity' for other countries to draw business away from the United Kingdom's financial services industry.

September 2017

Ross travels to Beijing to de-escalate the U.S.–China trade war.

February 2018

Ross recommends an increase in tariffs on aluminum and steel imports.

March 1, 2018

Ross implements a 25% tariff on steel and a 10% tariff on aluminum imports.

September 2018

Ross states that the tariffs are meant to 'modify China's behavior'.

2018

Ross imposes tariffs on the import of steel and aluminum from the European Union, Canada, and Mexico.

January 2019

Ross is present with other American politicians when 23 criminal charges are announced against Huawei and its CFO Meng Wanzhou.

July 2019

Ross states that the United States will keep Huawei on its blacklist but allow licensed sales.

December 2017

Ross approves sending a request to the Department of Justice to add a question about U.S. citizenship status to the Census for the first time since the 1940s.

June 2019

The citizenship question is blocked from the 2020 census by the Supreme Court.

January 2020

Ross states that the COVID-19 outbreak in China would help accelerate the return of jobs to North America.

April 2020

Ross announces an extension of the timeframe for field data collection and self-response for the 2020 United States Census to October 31, 2020, due to delays and operation challenges brought about by the COVID-19 pandemic.

Wilbur Ross, Jr. : FAQs

What is Wilbur Ross, Jr.'s net worth?

As of 2017, Wilbur Ross, Jr.'s net worth was $0.60 billion.

What are Wilbur Ross, Jr.'s main sources of wealth?

Wilbur Ross, Jr.'s main source of income comes from Investments.

In which industry does Wilbur Ross, Jr. primarily operate?

Wilbur Ross, Jr. is primarily involved in the Finance And Investments industry.

What is Wilbur Ross, Jr. educational background?

Wilbur Ross, Jr. holds a Bachelor of Arts/Science from Yale University and a Master of Business Administration from Harvard University.

How old is Wilbur Ross, Jr.?

Wilbur Ross, Jr. is 88 years old.

How many children does Wilbur Ross, Jr. have?

Wilbur Ross, Jr. has 2 children.

When and where was Wilbur Ross born?

Wilbur Ross was born on November 28, 1937, in Weehawken, New Jersey.

Where did Wilbur Ross attend school?

Wilbur Ross attended Xavier High School and Yale College.

What is WL Ross & Co?

WL Ross & Co is a private equity firm founded by Wilbur Ross.

What government position did Wilbur Ross hold?

Wilbur Ross served as Secretary of Commerce under President Donald Trump from 2017 to 2021.

What are some of Wilbur Ross's political views?

Wilbur Ross initially registered as a Democrat but later became a Republican. He supported privatization of public assets and advocated for pro-sensible trade.