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Approximately $24 million
- According to Forbes, Elaine Chao has a net worth of approximately $24 million. This makes her the seventh wealthiest person in the Donald Trump cabinet.
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Feb 8, 2024 · The Chao family, including James and Albert's sister Dorothy Jenkins, owns nearly 75% of the New York Stock Exchange-listed company. Jenkins stepped down from the company's board in 2023.
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Amid continued economic growth and a 4.4% rise in the stock...
- A $59 Million Will Sheds Light On Shipping Fortune ... - Forbes
A look at the assets Secretary of Transportation Elaine...
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A look at the assets Secretary of Transportation Elaine Chao's mother owned when she died in 2007. According to shipping database VesselsValue, Foremost’s 33-ship fleet is worth $1.2 billion...
Sep 2, 2021 · Mitch McConnell sits atop a multimillion-dollar fortune, thanks in large part to his wife, Elaine Chao, former transportation secretary under Trump.
- Michela Tindera
- What Is Elaine Chao's Net Worth?
- Family Wealth
- Early Life and Education
- Career Beginnings
- United Way of America
- Us Secretary of Labor
- Private Sector, 2009-2017
- Us Secretary of Transportation
- Controversies
- Private Sector, 2021-Present
Elaine Chao is a Taiwanese-American who has a net worth of $30 million. She is a Republican politician and is married to Senator Mitch McConnell. They have been married since 1993. As we detail in the next section below, Elaine comes from a very wealthy family. Elaine Chao served as the Commissioner of the Federal Maritime Commission from April 198...
Elaine's father James S. C. Chao is an extremely successful Chinese-American shipping magnate. James founded the Foremost Group, a New York-based shipping company which operates a fleet of 33 ships. Foremost is worth an estimated $1.2 billion, before debt. After debt and an investments from China's Export-Import Bank and Taiwan's First Commercial B...
Elaine Chao was born on March 26, 1953 in Taipei, Taiwan as the eldest of six daughters of Ruth, a historian, and James, a merchant mariner who went on to found the shipping company Foremost Maritime Corporation in New York City. Her sisters are Jeannette, May, Christine, Grace, and Angela. Chao spent the early part of her education at Tsai Hsing E...
Before entering public service, Chao served as a vice president for syndications at Bank of America Capital Markets Group in San Francisco, California. She also worked as an international banker at Citicorp in New York. In 1986, Chao joined the government when she became deputy administrator of the Maritime Administration in the Department of Trans...
After serving in George H. W. Bush's administration, Chao was president of the United Way of America from 1993 to 1996. During her tenure, she was credited with restoring credibility and public trust to the organization following the financial scandal of former president William Aramony.
Chao returned to government in 2001 to become the US secretary of labor under George W. Bush. She served in that position until 2009, making her the only cabinet member in the W. administration to serve for the entirety of his eight years in office. During her tenure, Chao oversaw the Department of Labor's grant disbursements to assist in the after...
Following her time in the W. administration, Chao returned to the private sector and resumed her previous role at a conservative think tank. She also contributed to Fox News and other media outlets, and became director of a number of boards, including those of Wells Fargo, Dole Food Company, and the Institute of Politics at Harvard Kennedy School.
In 2017, Chao returned to government as US secretary of transportation under Donald Trump. She served in that role until January 11, 2021, when she officially resigned in response to the January 6 attack on the US Capitol. Chao was the first cabinet officer to resign due to the riots instigated by Trump.
As secretary of transportation, Chao generated controversy for allegedly enriching her family's shipping business through her office. Federal disclosures revealed that Chao's father had given her and her husband Mitch McConnell a gift valued between $5 million and $25 million. The family's company, the Foremost Group, has extensive ties to the Chin...
In August of 2021, Chao was elected to the board of directors of the supermarket chain Kroger. She later began serving on the boards of directors of Hyliion, an electric truck manufacturer based in Austin, Texas, and ChargePoint, an electric vehicle infrastructure company based in Campbell, California.
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Apr 18, 2024 · The report lists McConnell as the sole owner of up to $3.4 million in assets, with up to $36 million in assets jointly owned with his wife, Elaine Chao.
Mar 4, 2021 · Forbes reviewed the will of Elaine Chao's late mother, which showed she left nearly $59 million in assets. Want to inform others about the accuracy of this story?
Mar 3, 2021 · Senator Mitchell McConnell’s sudden increase in net worth was due to an inheritance received by his wife, former Secretary of Transportation Elaine Chao, after the death of her mother in...
