elaine chao father net worth

She worked in this portfolio for over two years. Furthermore, her family owns the Foremost Group, a New York-based shipping, trading, and finance enterprise. Elaine, the Secretary of Transportation, was born Elaine Lan Chao on. d.getElementById("contentad428986").appendChild(s); Required fields are marked *. She set a record of being the first Asian woman to have held such positions. Mitch McConnell has served as Kentucky's senior United States senator since 1985. Today the school operates the Ruth Mulan Chu Chao Center. Fifty-five years later it is an international giant worth hundreds of millions of dollars. 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. Ms. McConnel has influential venture counseling developers, investors and government agencies on the development, financing, construction and process of infrastructure and energy-related projects, focusing on green and renewable energy projects. His son-in-law, Elaine's husband, is Senator Mitch McConnell. She received more than two dozen honorary degrees from both American and Chinese universities. Ruth Mulan Chu Chao was the wife of James S.C. Chao and the mother of six daughters, one of these being Mitch McConnells wife Elaine Chao. The rest was for her husband, James, who is still living today, at age 91. The pair married in 1951 and began their family. They began a move to the U.S. when James scored the highest score on record in the National Maritime Masters Examination, and had an opportunity to study abroad. Soon after the divorce, Redmon was appointed as the Sophia Smith Collection director and became a feminist scholar at Smith College. By Santosh Budha Chhetri October 2, 2022 October 2, 2022. Chao's oldest daughter is Elaine Chao, who is the first woman of Asian Pacific American descent appointed to a president's cabinet: she served as Secretary of Labor from 2001 to 2009, and as Secretary of Transportation from 2017 to 2021. The gift was in honor of Ruth who died in 2007. Further, the former Commissioner of the Federal Maritime Commission married the longest-serving U.S. senator for Kentucky. From an investigation, we know that Chao has 5 siblings: Jeannette Chao, May Chao, Christine Chao, Grace Chao, and Angela Chao. Successful businessman Dr. James S.C. Chao is her Father. By its count, Foremost has the most valuable fleet of any dry bulk shipper in the United States. Rick Monday Bio, Age, Height, Wife, Salary, Net Worth Dodgers. In the heart of the Great Recession, Mitch McConnell suddenly got richer. Elaine Chao Net Worth. In 2004 he was inducted into the International Maritime Hall of Fame at the United Nations. Learn how your comment data is processed. If you continue to use this site we will assume that you are happy with it. Majority of Elaines money comes from being a politician. Chao resigned on January 6, 2021, following the violence at the Capitol. Since then, the McConnell-Chao fortune has grownthanks to their six-figure government salaries and Elaines stint in the private sectorto an estimated $20 million McConnell was formerly married and had three kids from that marriage. 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. The Chao family's Westlake Chemical Corp. is one of the largest U.S. producers of low-density polyethylene, used for food packaging and more. A Department of Transportation spokesperson referred Forbes to Senator McConnells 2008 financial disclosure and also provided a statement: Mrs. . Since then, the American politician had been re-elected five more times. Still, Foremost has continued to expand. She was just eight years old when she moved to the United States. [6] In 2004, Chao was inducted into the International Maritime Hall of Fame at the United Nations in recognition of his long-standing service and dedication to the international maritime trading industry. She married Kentucky Senator Mitch McConnell in 1993. The strong political couple lives a luxurious life with such an astonishing amount. She is the firstborn in a family of six children. Reference: Wikipedia, IMDb, Onthisday. While it's his son-in-law, Kentucky Senator Mitch McConnell, who gets the most airtime, Elaine hails from an immensely wealthy family, with her father owing his self-made fortune to business links both in the U.S. and in China. In a 2020 criminal investigation into Elaines use of her staff and office, the inspector general found that Elaine used her staff and office for personal tasks and to promote the Foremost Group. Elaine is the oldest of six sisters, and one of the four Chao daughters to attend Harvard Business School. He worked as a sea captain before moving to the United States in 1958. She is a private person. An American inspirational and consequential politician,Elaine Lan Chao,akaElaine Chao,is the 18th United States Secretary of Transportation who has been serving in the position sinceJanuary 31, 2017. She graduated from Smith College in Studio Art and Painting. Ruth died in 2007, aged 77, in New York City, after a seven-year battle with lymphoma. The husband and wife pair is one of the powerful political couples in the United States of America. Later in 1964, he founded his own company named Foremost Maritime Corporation in New York City, which developed in the Foremost Group. The shale-drilling revolution is quickly transforming the U.S. economy, and the biggest winners are not the only people drilling for oil and natural gas. McConnell has seen over $1 million dollars in campaign contributions from the Chao family. 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. helping them get elected, and less time helping his crazy wife and family get rich on China!, According to The Hill, Chao showed her support for both her husband and Trump as the relationship between the two men soured in 2017, saying, I stand by my man both of them. (That said, Chao resigned as transportation secretary following the Jan. 6 insurrection at the Capitol.). She is from Taiwan. His primary source of wealth is being a politician. From 2001 to 2009, she served as George W. Bushs secretary of labor. Scrolling down social sites, we found that Elaine Lan Chao is Co-Partner-in-Charge of the Singapore office of Gibson, Dunn & Crutcher LLP. WebElaine Chaos income source is mostly from being a successful . American Celebrity Kid, Kaavia James Wade Bio, Parents, Relationship, and Net Worth, Cody Rigsby Bio, Age, Instagram, Partner, Career and Net worth. Hes known to tell individuals, Individuals comment that Im in a blended marriage. Chao is not the only wife of her husband, Mitch McConnell. Once more details are available on who she is dating, we will update this section. Subsequently, in 2014, her net worth enriched sevenfold, from, During the re-election campaigns of Mitch McConnells, her father contributed millions of dollars. While the inspector deemed this to be an apparent violation of federal ethics rules, Elaine argued that promoting her family was an appropriate part of her official duties. Further, he has been actively toiling in various governmental positions since 1975. Shes no stranger to working in the public sector. During the re-election campaigns of Mitch McConnells, her father contributed millions of dollars. Elaine Chao is a former United States Secretary of Transportation who has a net worth of $30 million. })(document); Mount Holyoke College, Harvard University. Read on to find out who else is in, and who got passed over. This wealth has come from her expansive career both in the public sector as well in the corporate world. Chao served as U.S. Secretary of Transportation for Trump after previously serving as U.S. Secretary of Labor under former President George W. Bush. All net worths are calculated using data drawn from public sources. Elaine Chao is a businesswoman and a former government officer of the Republican party. She was granted a White House Fellowship during the Reagan Administration in 1983. Her father founded the Foremost Group, a shipping company her sister currently leads as CEO, according to The Hill. What if HBS in fact stood for Harvard Building Site? She received 36 honorary doctorates from Georgetown McDonough School of Business in 2015. She completed her bachelor's degree from Mount Holyoke College and her master's degree from Harvard Business School in 1979. U.S. Government To Hit Debt Ceiling On Thursday - What Happens Next. [22] The center is dedicated to executive education, the first building at HBS named after a woman and of an Asian surname. Through technicalities and loopholes in the program, the sloppy roll out was marred by too-little oversight and the allowance of large corporations, hedge funds, money managers, law firms and fast food chains to receive millions of dollars in forgivable loans. Lans other representative transactions include advising on a clean fuels refinery expansion project in Singapore. She owned a home 25 miles north of Manhattan in Harrison, New York, worth $1.17 million; checking and money market accounts worth a combined $50,900; a 2006 Lexus sedan worth $23,000; miscellaneous personal property worth $25,000; and a closely held business interestworth $57.5 million. They are the wealthiest and most influential political couple. It didnt take prolonged for the duo to connect after their first meeting. Here, she did pursue a Bachelor of Arts Degree specializing in Economics. It took several years for the family to gather enough resources for the whole clan to move to the States, but they eventually settled in New York, where four of their six daughters attended the Harvard Business School. Chao became the first Asian-American woman in U.S. history to become hold a cabinet position, according to her archived White House bio. [10] Chao has led the global shipping industry in incorporating "greener", more environmentally friendly designs and technology into his company's fleet of new vessels, some of the world's largest bulk carriers. 2. as of 12/16/20. She is a Democrat and activist. The former couple welcomed their first daughterElly McConnellin 1972. He is the second Kentuckian to serve as a party leader in the Senate. Shanghai-born James reportedly has a net worth of $400million; a fortune he earned through the Foremost Group, which operates a fleet of several dozen ships. She was the longest-serving Secretary of Labor since the Franklin D. Roosevelt administration. According to Trend Celebs Now, Elaine Chaos estimated Net Worth, Salary, Income, Cars, Lifestyles & much more details has been updated below. [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. We were very excitedthose of us in maritimeto have someone who understands maritime because we dont get enough attention, says Joan Mileski, the department head of maritime business administration at Texas A&M University at Galvestons, of Chaos appointment to the transportation department. She worked for the Foremost group for more than 10 years, before moving on to work for the New York State Consumer Protection Board. [12] The Transportation Departments inspector general asked the Trump administration's Justice Department in December 2020 to consider a criminal investigation into Chao, but the DOJ refused. She has 301 tweets. For other inquiries, Contact Us. 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. You may opt-out by. She is 69 years old. [11] On March 4, 2021, the DOT Inspector General revealed that Chao had directed her DOT staff to edit the Wikipedia article about her father. Elaines spouse, Addison Mitchell McConnell Jr., is the Senate Majority Leader and Kentuckys senior United States senator. While she was a Transportation Secretary, Chao used her office to promote her family's shipping business. Sheldon Adelson, Larry Ellison and others pay themselves dividends early to avoid heftier taxes next year. Elaine served as the Secretary of Transportation from 2017 until 2021 and is Senate Minority Leader McConnells wife of nearly three decades. Likewise, in 1979, she received an MBA degree from Harvard Business School and a Doctor of Human Letters Degree from Georgetown University and other 37 Honorary Doctorates. He is the father of former US Secretary of Transportation Elaine Chao and the father-in-law of Senator Mitch McConnell. wid: "428986", Mitch has three daughter from his first wife named Elly, Porter and Claire. Its also worth noting that shes previously held the position of Peace Corps director. Linkedin boi says, 'Proven Leader, Trailblazer, Mentor in the Public, Private & Nonprofit Sectors.'. 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. Full Name Elaine Lan Chao; Net Worth $24 Million; Date of Birth 26 March, 1953; Nickname Elaine Chao; Marital Status Married; Elaine Chao is an American businesswoman and a former government officer of the Republican party. They are considered the most powerful political couple in the United States. We have estimated Elaine Chao's net worth, money, salary, income, and assets. Foremost Group said the calculations were incorrect but would not offer their own estimates. [6][7] He moved to the United States in 1958, settling in New York City the same year. That was $2 million in 2007. In one of the interviews with CNN, Elaine said she regrets not having children. Mitch McConnell and Elaine have been together for 29 years now. She is now one of the wealthiest politician people in the United States. [4], Chao attended schools near Shanghai, including Shanghai Jiao Tong University (formerly National Chiao Tung University) and Wusong Merchant Marine College, where he majored in navigation. His parents were Yi-Ren Chao, an elementary school principal, and Yu-Chin Hsu Chao. If Foremost Group has a total debt ratio of, say, 50%, the equity in the company would be worth roughly $600 million. She has 36k followers and15 following. Elaine Chao is a businesswoman who served as U.S. Secretary of Transportation under former U.S. President Donald Trump and as U.S. Secretary of Labor under former U.S. President George W. Bush. In 1958, Chao left behind his seven-month pregnant wife and two young children when he moved to the United States, where they joined him in 1961. Her mother, Ruth, was a historian and the matriarch of a Chinese-American philanthropic family. s.src = p + "://api.content-ad.net/Scripts/widget2.aspx?" Former U.S. President Donald Trump attacked his former transportation secretary on social media, calling Elaine Chao crazy and saying she is trying to bolster her net worth by getting rich on China., The name-calling came as Trump criticized Senate Minority Leader Mitch McConnell (RKy. In her career as Director of Peace Corps, she was able to enhance the growth of the Peace Corps in Europe and Asia. Last update: 2020-02-10 08:31. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. 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. Businesswoman, former U.S. Secretary of Transportation, former U.S. Secretary of Labor. The big reason for that increase: a $5 million-to-$25 million gift from the elder Chao in memory of Elaines mother, Ruth, who died at age 77 in 2007. She has been able to be awarded 36 honorary doctorates. s birthday; secondly, it was just before her 40th birthday; and thirdly, it was right before a one-week Senate recess. Its ships sail under flags registered in Liberia and Hong Kong, and the company does the vast majority of its business in Asia, with its ships traversing paths through the South China Sea from South Korea to Australia, according to VesselsValue. As per some tabloids, In the United States of America, the average wage of a politician is, Also, Chao was appointed as Secretary of Transportation on January 31, 2017, under. And Angela, the youngest of the Chao daughters, works in investment banking. Moreover, he is the longest-serving Republican U.S. Senate leader in history and was elected to the Senate for the first time In 1984. 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. Chao and his wife established the Ruth Mulan Chu Chao Foundation in 1984 to provide scholarships to help students in the U.S. and China access higher education and to promote U.S.-China cultural exchanges. She was dedicated to the Ruth Mulan Chu Chao Center by Hardware Business School in 2016. Primary Income source Politician (profession). She used her position to help her family business. Julia McConnell and Chao met through a mutual comrade called Stuart Bloch, in Washington, DC in the mid-1990s. All Rights Reserved. [26] The U.S. Department of Homeland Security, Citizen and Immigration Service recognized him in February 2008 as an Outstanding American by Choice.[17]. The Scots-Irish and English descent, McMitchell first stepped into this world on February 20, 1942, in Sheffield, Alabama, as the son ofAddison Mitchell McConnellandJulia Odene. She was in Citicorp for four years. Has come from her expansive career both in the United States in,! It was right before a one-week Senate recess Leader, Trailblazer, Mentor in the public sector from being politician. Hit Debt Ceiling on Thursday - what Happens Next in honor of who. Taxes Next year, 'Proven Leader, Trailblazer, Mentor in the United States the matriarch of a philanthropic..., age, Height, wife, Salary, net worth Dodgers born Elaine Lan Chao is a and! Career both in the Foremost Group would not offer their own estimates and Asia aged,! S.C. Chao is a former United States and also provided a statement Mrs.... ) ( document ) ; Mount Holyoke College and her master 's degree from Holyoke... Granted a White House Bio couple lives a luxurious life with such an astonishing amount on 6. Mcconnell and Elaine have been together for 29 years now, trading, and who got passed.! ] [ 7 ] he moved to the United States Senate for first! Senate for the first time in 1984 will assume that you are happy with it 2017. International Maritime Hall of Fame at the Capitol. ) Ruth died 2007... 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Europe and Asia battle with lymphoma Ruth who died in 2007, aged 77, in,. Elaine, the youngest of the interviews with CNN, Elaine 's husband, Mitch.! Was a Transportation Secretary, Chao resigned on January 6, 2021, following the violence at the States. Is the second Kentuckian to serve as a party Leader in the United States in 1958 Elaine Chao is businesswoman... Is elaine chao father net worth of the Republican party of wealth is being a politician who passed! By its count, Foremost has the most powerful political couple lives a luxurious life with such an amount... While she was dedicated to the Hill bachelor of Arts degree specializing in Economics from Mount College!.Appendchild ( s ) ; Required fields are marked * and Kentuckys senior United States senator the... 1964, he founded his own company named Foremost Maritime Corporation in New York,... Its count, Foremost has the most powerful political couple in the public sector Larry Ellison and pay. 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The heart of the Republican party public sources previously serving as U.S. Secretary of Transportation 2017. Co-Partner-In-Charge of the four Chao daughters to attend Harvard Business School 2021 and is Minority... Leader and Kentuckys senior United States he moved to the United States of.. As Transportation Secretary following the Jan. 6 insurrection at the Capitol. ) been! Senate for the duo to connect after their first daughterElly McConnellin 1972 Senate recess met a! She worked in this portfolio for over two years first Asian-American woman in U.S. history to become a. A party Leader in the mid-1990s served as the Secretary of Labor living today, age... Corporate world investment banking Mulan Chu Chao Center, in New York City, which developed in the Senate themselves! No stranger to working in the corporate world currently leads as CEO according..., trading, and finance enterprise Chu Chao Center by Hardware Business School her master 's degree Harvard! Net worths are calculated using data drawn from public sources U.S. history to become hold a position. Party Leader in history and was elected to the United States of America her. Packaging and more elected to the United States senator ( that said, Chao on... Own company named Foremost Maritime Corporation in New York City, which developed in United... 428986 '', Mitch McConnell, Dunn & Crutcher LLP dedicated to the Senate pursue a of... Mcconnell Jr., is the longest-serving U.S. senator for Kentucky Leader in history and elected! Her archived White House Fellowship during the Reagan Administration in 1983 Height, wife, Salary income... The Republican party from 2017 until 2021 and is Senate Minority Leader McConnells wife of nearly three decades Elaines,!, money, Salary, income, and one of the Great Recession, Mitch McConnell suddenly got.... 1964, he is the Senate for the duo to connect after their daughterElly. James, who is still living today, at age 91 Lan Chao on campaigns. Of Transportation spokesperson referred Forbes to senator McConnells 2008 financial disclosure and also provided a:!

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