Last Updated: 26 Nov, 2023 | Views: 133
Profession: Business Men
Other Profession(s): Author, Song writer
Famous For: 39th United States Secretary of Commerce
Higher Education: Yale University (BA) Harvard University (MBA)
Wilbur Louis Ross Jr. was born on November 28, 1937. In 2000, Ross founded WL Ross & Co., a private equity firm focused on investing in distressed assets. The firm became known for acquiring troubled companies and turning them around for profitable exits.
Wilbur Ross Career:
• 1976: Wilbur Ross began his career as an investment banker at Rothschild Inc., where he focused on bankruptcy and restructuring advisory services.
• 1997: Ross founded his own private equity firm, WL Ross & Co., specializing in investing in distressed companies. The firm gained a reputation for turning around struggling businesses and generating substantial profits.
• 2004: Ross acquired the steel company International Steel Group (ISG), combining it with other steel assets to create the International Steel Group Inc. (ISG). He later sold ISG to ArcelorMittal, the world's largest steel producer.
• 2006: Ross founded International Automotive Components Group (IAC), a global supplier of automotive interior components.
• 2011: Ross sold a majority stake in IAC to a group of investors, but remained involved with the company as chairman.
• 2021: Ross left his position as Secretary of Commerce at the end of the Trump administration, following the inauguration of President Joe Biden.
Wilbur Ross Awards:
• Order of Industrial Service Merit medal
• 2014: American Irish Historical Society Gold Medal
• Order of the Rising Sun, Gold and Silver Star
Wilbur Ross Unknown facts:
• Art Collector: Wilbur Ross has a passion for art and is an avid collector.
• Offshore Investments Controversy: During his tenure as Secretary of Commerce, Ross faced criticism and controversy regarding his offshore investments. Ross later divested his interests to avoid conflicts of interest.
• Member of Secret Societies: Ross is a member of several prestigious secret societies, including the exclusive Wall Street fraternity, Kappa Beta Phi.