Today the company operates a fleet of 33 ships. The rest was for her husband, James, who is still living today, at age 91. The pair married in 1951 and began their family. He finished his coursework in 1949 and went to sea as a cadet on a merchant vessel. During the re-election campaigns of Mitch McConnells, her father contributed millions of dollars. Houston-based Westlake Chemical is also the world's second largest PVC producer. In the year 1979, she was able to graduate with an MBA degree. She lost her mother on August 2, 2007. exitPopMobile: true, (Foremost says the figure was lower.) James Chao had a shipping business called Foremost Maritime Group worth billions. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Claire is the second child of her parents. However, McConnell has children from his first wife, Sherrill Redmon. She was born in 1979. 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. Right now, we dont have much information about Education Life. Additionally, her experience rises to drafting and arranging project development agreements, power purchase agreements, consultancy agreements, turbine supply agreements, FEED contracts, EPC contracts, direct agreements, procurement and equipment supply agreements, BOP agreements, asset management agreements and O&M agreements. She later did work at International Bank, Citicorp. Elaine has also received her master's degree. Shes Married to Mitch McConnell, Whose Net Worth is $22.8 million Mitch McConnell and Elaine Chao on Election Day 2014 in Louisville, Kentucky. (Getty) Elaine Chaos husband is Mitch McConnell, the current United States Senate Majority Leader. James S.C. Chao is a Chinese-American entrepreneur, who founded the Foremost Group - a shipping, trading and finance enterprise based in New York. After that, she joined Syosset High School in Syosset, New York. (Neither Elaine nor Mitch has a financial stake in it, found on publicly available information.). Russia and Iran are in talks over a plan to launch a new cryptocurrency backed by gold, which could be used in their bilateral trade deals. She completed her master's in business administration from Harvard Business School in 1979. I Cant Believe This Nigerian Mum Finds Unexpected Items inside Childrens School Bags, Shares Video, Pray She Misses Her Period: Is a Baby Coming? Davidos Chioma Spotted Checking Menstrual Cycle Tracking App in Video, Many Ladies, UK Govt Releases List of Companies Approve To Sponsor Skilled Nigerians Ready To Relocate, Five Side Hustles for 9-5 Workers in Nigeria, How to start ecommerce business Steps Guide, CBN Releases Security Features of New Naira Notes as Fake Notes Emerge. 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. 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. joined Twitter on January 2017. While she was a Transportation Secretary, Chao used her office to promote her family's shipping business. A look at the assets Secretary of Transportation Elaine Chao's mother owned when she died in 2007. The whole Chao family is the top donor of the Republican Party of Kentucky, granting approximately $525,000over two decades. She is married to Mitch McConnell, the Senate minority leader. James S.C. Chao is a Chinese-American entrepreneur, who founded the Foremost Group - a shipping, trading and finance enterprise based in New York. Offers may be subject to change without notice. Chao donated $40 million to the Harvard Business School in 2012. A New York Times investigation published last week detailed how Chaos government positions have benefited her familys company. wid: "428986", 2. According to his 2009 financial disclosure, while other senators fortunes were falling, McConnells jumped, thanks to a multimillion-dollar gift from his father-in-law, James Chao, to him and his wife, Elaine Chao, who now serves as President Trumps Secretary of Transportation. Learn how your comment data is processed. Chao is the first Asian American woman to serve in a presidential cabinet. She is an Environmentalist. Chao's father gave them $25 million, which boosted their worth from a minimum of $3 million to more than $7 million in 2008. After three years, the romantic couple married in 1993 on Regans Birthday. 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. She is now Deputy Chairman, and oversees the companys strategy, operations and chartering. She has been able to study money and banking at Dartmouth College. After receiving a list of questions prior to publication of this article, a spokesperson for Senator McConnell directed Forbes to contact the Department of Transportation. They are always so supportive of each other. He is the father of former US Secretary of Transportation Elaine Chao and the father-in-law of Senator Mitch McConnell. Her Twitter bio says, 'Elaine Chao served as the 18th U.S. Secretary of Transportation. In 2004, the net worth of Elaine was$3.1 Million as per the Washington Post. Elaine, the Secretary of Transportation, was born Elaine Lan Chao on March 26, 1953,in Taipei, Taiwan, under the Aries birth sign to Chinese parents,James Si-Cheng ChaoandRuth Mulan Chu Chao. Mitch McConnell who has been serving as the senior U.S senator from Kentucky has a net worth of $35 million. Elaine doesn't even know how to speak English, and she received her citizenship at 19 and went to Harvard Business School. 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 secretary of transportation, Lan has a jaw-dropping net worth of$24 Million,which she accumulated throughout her multi-professional career. Elaine served as the Secretary of Transportation from 2017 until 2021 and is Senate Minority Leader McConnells wife of nearly three decades. She has mentioned that she resides in Washington, United States. The U.S. Maritime Administration, which oversees ships that sail under the U.S. flag, falls under Elaine Chaos purview as secretary of transportation. CAST: Reese Witherspoon, Ashton Kutcher, Jesse Williams, Zo Chao, Welsey Kimmel, Griffin Matthews, Rachel Bloom, Shiri Appleby, Vella Lovell, with Tig Notaro and Steve Zahn. 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 today. She was the longest-serving Secretary of Labor since the Franklin D. Roosevelt administration. She has expanded the Peace Corps's presence in Central Asia and Eastern Europe by establishing the first peace corps programs. Chao was an advisor, adjunct professor, and member of the St. John's University Board of Trustees for decades and the recipient of St. John's University's Medal of Honor. She now works at an international educational and research institution, and is married to Gordon Hartogensis. Chao (d. 2008) moved his family from Taiwan to the U.S. and founded Westlake Chemical in 1985; today it's run by his son Albert Chao. cb: (new Date()).getTime() He is Elaine Also, an integrated steel mill project in Ethiopia and two pipeline projects in Djibouti. To see all content on The Sun, please use the Site Map. According to shipping database VesselsValue, Foremosts 33-ship fleet is worth $1.2 billion today before factoring in debt. Elaine Chao: Career Chao has been Elaines younger sisters included Jeanette, May, Christine, Grace, and Angela. Jeanette, James and Ruths second daughter, was five years old when she came to the United States from Taiwan. and shares three kids from her spouses previous marriage. [26] The U.S. Department of Homeland Security, Citizen and Immigration Service recognized him in February 2008 as an Outstanding American by Choice.[17]. When she was eight years old, together with her family. He is the founder of the Foremost Group, a New York-based shipping, trading, and finance enterprise. She has been able to sit on the board of management of very many corporations as well as nonprofit organizations. Forbes has since obtained a copy of Ruth Chaos will and supplementary documents, and is unveiling their contents for the first time. Chao's networth in 2007 was just 2 million. 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. Dry bulk shipping companies tend to carry between 40% and 60% debt, according to industry analysts. Celebritys Net worth, Biography, Sports, Health, Technology, & Entertainment. d: "YWxsc3RhcmJpby5jb20=", Meanwhile, her beloved partner holds a staggering net value of, From an investigation, we know that Chao has 5 siblings: Jeannette Chao, May Chao, Christine Chao, Grace Chao, and Angela Chao. She was dedicated to the Ruth Mulan Chu Chao Center by Hardware Business School in 2016. Ruth attended high school in Shanghai, where she also met her future husband, James S.C. Chao. Mel B biography: net worth, husband, daughter, age, Eddie Murphys mom, children, movies andtv shows, Kaalan Walker biography: net worth, age, superfly, rape sentence update, jail, wife, instagram, wiki, instagram, now, movies and tv shows, Share This Post On WhatsApp, Facebook, Twitter, Instagram & Telegram. 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. 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. Arsenal FC target Jesper Lindstrom discusses his future with Forbes contributor Marie Schulte-Bockum. Baby among 6 festival-goers sliced to death by glass-encrusted kite strings, BBC1's live FA Cup coverage hit by porn noises from mobile hidden by prankster, Three major energy suppliers paying you to turn off appliances tonight, Putin to make very important announcement on Ukraine war today', News Group Newspapers Limited in England No. 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. Further, he has been actively toiling in various governmental positions since 1975. 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.). 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