Elaine Chao is a former United States Secretary of Transportation who has a net worth of $30 million. Save my name, email, and website in this browser for the next time I comment. as of 12/16/20. [14] In 1949, each relocated separately to Taiwan at the culmination of the Chinese Civil War,[15] and they married in 1950. Their daughter Angela Chao serves as CEO of Foremost. People may receive compensation for some links to products and services on this website. An American Transportation Departments inspector generals headquarters investigated former Transportation Secretary Elaine for possible violations of ethics rules and misuse of her position and its news went public this week. In the past year, some ships have stopped in Oregon, Virginia and Louisiana, according to global ship-tracking database MarineTraffic. Besides, her practice includes advising on cross-border mergers and acquisitions, regulatory and compliance matters, Singapore-related corporate and commercial transactions in the FMCG sector. He then served as a Judge from 1977 to 1984. We use cookies to ensure that we give you the best experience on our website. (adsbygoogle = window.adsbygoogle || []).push({}); (function(d) { Her father founded the Foremost Group, a shipping company her sister currently leads as CEO, according to The Hill. Her father was in New York three years earlier when Elaine, with her two sisters and mother, moved to the United States on a 37-day freight ship journey. Likewise, her course areas possess renewable energy, cross-border mergers and acquisitions, infrastructure projects, oil and gas, and a broad range of general corporate/commercial dealings. James S.C. Chao is a Chinese-American entrepreneur, who founded the Foremost Group - a shipping, trading and finance enterprise based in New York. She worked in this portfolio for over two years. We welcome all corrections and feedback using the button below. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Chao has the official government website page and mentions her official page on her account. If James based his giving on how much he inherited from his wife, and similarly spread the gifts evenly among Elaine and her siblings, Elaine would have received about $9 million from her father, rather than the $25 million maximum that was reported on McConnells disclosure. [16][17] Ruth Mulan Chu Chao died on August 2, 2007. We have estimated Elaine Chao's net worth, money, salary, income, and assets. A quarter of GOP state House lawmakers said they stand ready and willing to help DeSantis win the battleground state. It is the first building at Havard Business School named after an Asian American. It has operations across North America, Europe and Asia. That was $2 million in 2007. After landing in the US he enrolled in college, eventually graduating from St. John's University, Queens with a master's degree. Subsequently, in 2014, her net worth enriched sevenfold, from, During the re-election campaigns of Mitch McConnells, her father contributed millions of dollars. She attended Tsai Hsing Elementary School in Taiwan. What if HBS in fact stood for Harvard Building Site? Elaine Chao and Mitch McConnell do not have children together. She is now Deputy Chairman, and oversees the companys strategy, operations and chartering. She is the current Secretary of Labor in the United States and has been in this And Angela, the youngest of the Chao daughters, works in investment banking. Elaine Chao Net Worth As of January 2023, Chao has a net worth of over $35 million. [27] Also, Nyack College conferred upon him the honorary D.Litt. cb: (new Date()).getTime() Elaine Chao was born on March 26, 1953, in Da'an District, Taipei, Taiwan. In the year 1989, retired President George W. Bush did appoint her as the deputy secretary of Transportation. They each moved separately to Taiwan in 1949, but were later reunited when James reportedly tracked her down via a local newspapers listing of recent graduates. She has 36k followers and15 following. She worked for the Foremost group for more than 10 years, before moving on to work for the New York State Consumer Protection Board. She has zero followers on her Facebook. In the year 1986, she was appointed as the Deputy Administrator of the Maritime Administration. Elaine Chaohas 4.1k followers. The date picked for their big day was special for three reasons; firstly, it wasRonald Regans birthday; secondly, it was just before her 40th birthday; and thirdly, it was right before a one-week Senate recess. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. After debt and an investments from China's Export-Import Bank and Taiwan's First Commercial Bank, the Ads accounted for around 90% of Twitters revenue in recent financial filings but many companies turned away from the platform after Musk took over. Once more details are available on who she is dating, we will update this section. He worked as a sea captain before moving to the United States in 1958. You may opt-out by. He stated that he has no liabilities worth more than $10,000. The University Of Illinois Just Received A $150 Million Donation. Author's husband wanted her to stop writing before 'faking her death for years', Putin readying 700k troops for new offensive in weeks to cut off Ukraine', Shock first photos inside Serena Williams' crumbling childhood home, Ana Walshe's pals reveal what 'delayed her fate' after husband charged, 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, Elaine Chao, former U.S. secretary of transportation, right, and her father James Chao arrive at a state dinner in 2015, Shanghai-born Chao reportedly has a net worth of $400million, Elaine Chao (2nd R) looks at the portraits of her father James Chao (L) and mother Ruth Mulan Chu Chao as the gift from Chinese Transport Minister Li Xiaopeng in 2018, Joe Biden kisses a niece of Mitch McConnell during a ceremonial re-enactment swearing-in ceremony in 2015, resigned from her post on January 7, 2021. He is the father of former US Secretary of Transportation Elaine Chao and the father-in-law of Senator Mitch McConnell. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Elaine Chao, former U.S. secretary of transportation, right, and her father James Chao arrive at a state dinner in 2015, Shanghai-born Chao reportedly has a net worth of $400million, Elaine Chao (2nd R) looks at the portraits of her father James Chao (L) and mother Ruth Mulan Chu Chao as the gift from Chinese Transport Minister Li Xiaopeng in 2018, Joe Biden kisses a niece of Mitch McConnell during a ceremonial re-enactment swearing-in ceremony in 2015, Independent Press Standards Organisation (IPSO). This is such an affront to honor and to leadership. To see all content on The Sun, please use the Site Map. In 2022, he won the Europa League with Eintracht Frankfurt, scored the club's first Champions League goal, and played for Denmark at the World Cup in Qatar. I think theres probably a greater likelihood the House flips than the Senate, the senator from Kentucky said, per The Washington Post. Senator Mitch McConnell and Secretary of Transportation Elaine Chao at the Kentucky Society of [+] Washington's Bluegrass Ball in Washington, D.C., before President Trump's Inauguration in 2017. She publicly apologized for her action. Linkedin boi says, 'Proven Leader, Trailblazer, Mentor in the Public, Private & Nonprofit Sectors.'. Dry bulk shipping companies tend to carry between 40% and 60% debt, according to industry analysts. How to Start a Cryptocurrency Trading Business? 2023 Celebrity Net Worth / All Rights Reserved. Also, an integrated steel mill project in Ethiopia and two pipeline projects in Djibouti. In the year 2016, she was appointed as the Secretary of Transportation. The 12th Director of the Peace Corps, Elaine and the U.S. Senate Majority Leader, McConnell, met in the early 1990s in Washington, DC. She worked as an educationist. Similarly, she is the first Asian-American woman in the history of the United States to be nominated in the Presidents Cabinet. She then received an inheritance of $5 million to $25 million after her mother's death. Four decades earlier she and her three oldest daughters traveled by ship from Taiwan to the U.S. to join her husband, James, in New York. She easily received approval from the U.S Senate. WebMcConnell has received millions of dollars in political contributions from members of the Chao family and over 10 years ago his father-in-law gave him a personal gift of between $5 million and $25 million that literally quadrupled his net worth overnight. James Chao earned his fortune as the founder of the Foremost Group which is a shipping, trading, and finance enterprise based in New York. Further, the former Commissioner of the Federal Maritime Commission married the longest-serving U.S. senator for Kentucky,Addison Mitchell McConnell Jr.and shares three kids from her spouses previous marriage. The fleets gross value has risen from $535 million to $1.2 billion over the past seven years, according to VesselsValue, which counts ships that are still being built because companies can sell those contracts. Her worth jumped. During that time, she frequently used her office to promote her family's shipping business. "James S. C. Chao Chairman Foremost Group New York Class Year: 2009", "Bio of Dr. James S.C. Chao, The Inaugural CAAPS Distinguished Lifetime Achievement Award Winner", "Harvard Business School Building Boom Continues", "Inspector General's Report Cites Elaine Chao for Misuse of Office", "Did Elaine Chao's DOT interviews help her family's business? Their oldest daughter Elaine Chao became the first woman of Asian Pacific American descent to be appointed to a president's cabinet. He is the founder of the Foremost Group, a New York-based shipping, trading, and finance enterprise. [16] In October 2012, Harvard University announced that Chao and his family foundation would donate $40million to the Harvard Business School for the construction of the Ruth Mulan Chu Chao Center and the establishment of the Ruth Mulan Chu and James Si-Cheng Chao Family Fellowship Fund. She is active on Twitter. Elaine Chao: Career Chao has been As per some tabloids, In the United States of America, the average wage of a politician is$174,000per year,which also adds to her fortune. Her will directed the maximum amount of money that could pass through free of the federal estate tax to be split equally among her six daughters. Elaine Chaojoined Twitter on January 2017. The Chao family played no small part in enriching him, and keeping him in power. The 68-year-old leader worked as the United States of America president from 1992 through 1996. Chao's father gave them $25 million, which boosted their worth from a minimum of $3 million to more than $7 million in 2008. Chao studied at Tsai Hsing Elementary School which was located in Taipei. The foundation awards scholarships to students both in the U.S. and China, in a bid to help them achieve better access to higher education. 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