James and his wife, Ruth Mulan Chu, both have an interest in higher education. After debt and an investments from China's Export-Import Bank and Taiwan's First Commercial Bank, the Chao family's stake in Foremost is worth an estimated $600 million. He was previously married to Sherrill Redmon. Elaine is the daughter of a Chinese-American businessman who is the founder of Foremost Group. 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 worked in this portfolio for over two years. Before this, the Southern Baptist Mitch was in marital bond withSherrill Redmon in 1968. Her worth jumped. We will update soon. The whole Chao family is the top donor of the Republican Party of Kentucky, granting approximately. He has also received some worth from his family and inheritance. 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. WebIn April 2008, Chao's father gave Chao and McConnell between $5 million and $25 million, which "boosted McConnell's personal worth from a minimum of $3 million in 2007 to [21] Right now, we dont have much information about Education Life. She used to be a member of the Republican Party. Win McNamee/Getty Images Since that time, the personal fortune of McConnell and Chao has 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 completed her master's from the University of Michigan and her bachelor's from Williams College. She is active on Twitter. Mitch McConnell is married to Elaine Chao. Chao was for more than a decade as Chairman of both Taiwan's Chiao-Tung University Alumni Association in America and Chiao-Tung University Alumni Foundation of America from 1988 to 1999. She is an Environmentalist. Mitch McConnell and Elaine Chao met through a mutual friend in the early 1990s and married in 1993. Jeanette, James and Ruths second daughter, was five years old when she came to the United States from Taiwan. She did study at Mount Holyoke College. 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. Jeanette, May, Christine, Grace and Angela, Mitch McConnell's Wife Elaine Chao And Their Net Worth - 5 Fast Facts. 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. She is committed to accomplishing her goals and has never mentioned anything about her marriage and husband. Her education details are unknown to date. Later, Mitch graduated from the University of Kentucky College of Law in 1967, where he served as the president Student Bar Association during his college days. She was the longest-serving Secretary of Labor since the Franklin D. Roosevelt administration. She completed her master's in business administration from Harvard Business School in 1979. When she was eight years old, together with her family. Industry insiders and experts are quick to praise Foremost. 2020 America's Richest Families Net Worth. Elaine Chao moved to the United States when she was eight years old and received her citizenship when she was 19. 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. I would wish not to say that sparkles flew, Bloch revealed to The New York Times, since that is not the route both of them are, rather the couple hit it off immediately. All Rights Reserved. Chao's networth in 2007 was just 2 million. She worked as an educationist. Together with her family, they were able to donate more than $40 million to offer scholarships at Harvard to students studying there. 4. Shanghai-born Chao reportedly has a net worth of $400million Credit: Getty Images - Getty While the inspector deemed this to be an apparent violation of federal After three years, the romantic couple married in 1993 on Regans Birthday. And Angela, the youngest of the Chao daughters, works in investment banking. The 68-year-old leader worked as the United States of America president from 1992 through 1996. 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. With Elaine, she and I comprehend each other. In 1998, the couple revealed to The Washington Post how partitioning family unity works. They are the wealthiest and most influential political couple. Her Twitter bio says, 'Elaine Chao served as the 18th U.S. Secretary of Transportation. var params = Forbes has since obtained a copy of Ruth Chaos will and supplementary documents, and is unveiling their contents for the first time. She worked for the Foremost group for more than 10 years, before moving on to work for the New York State Consumer Protection Board. Chao became the first Asian-American woman in U.S. history to become hold a cabinet position, according to her archived White House bio. The politician has counseled on acquiring and developing several biomass, fuel cell technology, and solar and wind power projects. Her father founded the Foremost Group, a shipping company her sister currently leads as CEO, according to The Hill. 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. Bloch and McConnell had met during the 1960s and Bloch was joined in holy matrimony to Julia Chang Bloch, who was a lecturer of Chaos. What Should You Do to Make the Most of Your City Break? Being born on 26 March 1953, Elaine Chao is 67 years old as of todays date 24th January 2021. Elaine Chao, a former United States Secretary of Transportation, has a net worth of $30 million. The Chao family, including Albert's brother James and sister Dorothy Jenkins, owns nearly 75% of New York Stock Exchange-listed Westlake Chemical. For other inquiries, Contact Us. Is TikTok Star Caroline Gregory Dating? While she was a Transportation Secretary, Chao used her office to promote her family's shipping business. Ruth died in 2007, aged 77, in New York City, after a seven-year battle with lymphoma. It is a methanol export facilities project in Brunei, various upstream oil and gas acquisitions, a Jet Merox refinery expansion project in Thailand, and divestments in the Middle East and North Africa. 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. Mitch McConnell and Elaine have been together for 29 years now. He is the father of former US Secretary of Transportation Elaine Chao and the father-in-law of Senator Mitch McConnell. All Rights Reserved. and shares three kids from her spouses previous marriage. People may receive compensation for some links to products and services on this website. She was born in 1976. Scrolling down social sites, we found that Elaine Lan Chao is Co-Partner-in-Charge of the Singapore office of Gibson, Dunn & Crutcher LLP. James Si-Cheng Chao was born in Jiading District, Shanghai, China in December 1927. She currently lives in Baltimore with her husband, Richard Jerram. WebElaine Chaos income source is mostly from being a successful . [25] He was awarded the "Ellis Island Medal of Honor" (2005). Her father is the founder of Foremost Group. 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. Forbes has since obtained a copy of Ruth Chaos will and supplementary documents, and is unveiling their contents for the first time. You may opt-out by. 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. T.T. Her parents were Ruth Mulan Chu Chao and James Si-Cheng Chao. })(document); Mount Holyoke College, Harvard University. She lost her mother on August 2, 2007. s presidency and is currently doing under the same position. Elaine Chao was born on March 26, 1953 in China. Full Name Elaine Lan Chao; Net Worth $24 Million; Date of Birth 26 March, 1953; Nickname Elaine Chao; Marital Status Married; He worked as a sea captain before moving to the United States in 1958. Further, the couple exchanged wedding vows in an intimate wedding in the Chapel of the U.S. Capitol. in Taipei, Taiwan, under the Aries birth sign to Chinese parents. 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. 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. Foremost is worth an estimated $1.2 billion before debt. The Chao family played no small part in enriching him, and keeping him in power. Shes no stranger to working in the public sector. Foremost Group said the calculations were incorrect but would not offer their own estimates. Elaine Chao was born in Taiwan to her father, James S. C. Chao, and mother, Ruth Mulan Chu Chau. In 2008, the couple received a generous gift from Elaine Chaos father, James Chao. Shanghai-born Chao reportedly has a net worth of $400million Credit: Getty Images - Getty 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 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 earned an MBA at the college of William and Mary, but her life was cut short in 2008. She is the firstborn in a family of six children. Reference: Wikipedia, IMDb, Onthisday. 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. Your email address will not be published. var p = 'https:' == document.location.protocol ? During that time, she frequently used her office to promote her family's shipping business. 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. Required fields are marked *. She studied money and banking at Dartmouth College in the second semester of her junior year. I dont view it as such. That was $2 million in 2007. She is now Deputy Chairman, and oversees the companys strategy, operations and chartering. She now works at an international educational and research institution, and is married to Gordon Hartogensis. 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. Similarly, she is the first Asian-American woman in the history of the United States to be nominated in the Presidents Cabinet. 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. { 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. We have estimated Elaine Chao's net worth, money, salary, income, and assets. The Taiwan-born Republican resigned from her post on January 7, 2021, after saying the storming of the US Capitol made her feel deeply troubled. Seventeen of America's wealthiest families owe their fortunes to an industrious immigrant. Elaine Chao is a former United States Secretary of Transportation who has a net worth of $30 million. The former couple welcomed their first daughter. He faces reelection in the upcoming 2020 election. They got their wedding on Ronald Reagan's birthday. He is the father of former US Secretary of Transportation Elaine Chao and the father-in-law of Senator Mitch McConnell. Additionally, Chao is the second wife of Michell. The James S.C. Chao Scholarship is named after him. She is 69 years old. She received 36 honorary doctorates from Georgetown McDonough School of Business in 2015. ', Elaine Chao'sLinkedin boi says, 'Proven Leader, Trailblazer, Mentor in the Public, Private & Nonprofit Sectors.'. Majority of Elaines money comes from being a politician. What's Behind The Growth Spurt In Fertilizer Stocks? Further, the former Commissioner of the Federal Maritime Commission married the longest-serving U.S. senator for Kentucky. 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. 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Since 2012, the companys fleet has grown from 17 to 33 ships, including 14 currently under commission from shipyards in Japan and China. The pair married in 1951 and began their family. She is the eldest daughter. Earlier in her career, Chao worked as Deputy Administrator of the Maritime Administration in the U.S. Department of Transportation, Chair of the Federal Maritime Commission, and Deputy Secretary of the U.S. Department of Transportation. She has zero followers on her Facebook. 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. WE HAVE A GHOST (February 24) Finding a ghost named Ernest haunting their new home turns Kevins family into overnight social media sensations. Chao daughters, works in investment banking Lan Chao is 67 years old when was. 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