elaine chao father net worth

Sixteen years later, in 1984, McConnell won his own Senate seat, guaranteeing him a steady, upper middle-class salary. It was enough to make them comfortable, but not filthy rich. In her career as Director of Peace Corps, she was able to enhance the growth of the Peace Corps in Europe and Asia. Mitch McConnell who has been serving as the senior U.S senator from Kentucky has a net worth of $35 million. In the year 1979, she was able to graduate with an MBA degree. Then he gave more to his daughter Elaine and her husband, McConnell, on top of that. James S.C. Chao, 91, Ms. Chaos father, studied navigation at a university in Shanghai before fleeing the mainland ahead of the Communist takeover in 1949. CONFIRMED: Mitch McConnell and Elaine Chao received $5 million to $25 million from her father, James Chao, whose shipping company Foremost Group does massive deals with the Chinese government. Rosalind Chao. The political duo may not have a formal stake in the Chao shipping empire, but they have certainly amassed wealth from the business. Elaine Chao. She is the firstborn in a family of six children. Foremost is worth an estimated $1.2 billion before debt. A memo written by a department lawyer, pointing out that, as her fathers eldest daughter and an Asian American, she was expected to mention and honor her parents and, if she did not, her reputation and stature as a government official would be diminished considerably in the eyes of many Asians and Asian Americans.. Elaine Chao Net Worth. At 79, Mitch McConnell, the longest-serving Republican leader in Senate history, holds one of the top positions in his party and the U.S. government. has 4.1k followers. He also sits atop a multimillion-dollar fortune, thanks to his wife, former cabinet secretary Elaine Chao, and the well-timed investing of a small inheritance he and his wife received soon after his mother-in-law died in 2007. While China sought to expand its maritime endeavors, it was under Chaos leadership that the Department of Transportation proposed budget cuts for programs meant to stimulate American shipping and mariners. For years, the McConnell and Chao families have cultivated a relationship that enriches the couple and grants status to the Chaos shipping company. In the year 1979, she was able to graduate with an MBA degree. Transportation Department officials say that Ms. Chao has been a champion for the United States maritime system, and that her actions as the head of the agency have nothing to do with her familys business in China. Ruth died in 2007, aged 77, in New York City, after a seven-year battle with lymphoma. Her father is the founder of Foremost Group. Chao family members said they could not recall this investment. She used to be a member of the Republican Party. Opinions from the Washington Post Editorial Board. Elaines youngest sister, Angela, is the CEO of Foremost Group and is also married to billionaire venture capitalist Jim Breyer. George T. Conway III: Donald Trumps new reality, President Trump played at Trump National Golf Club in Sterling, Va., on Nov. 8, 2020, the day after he lost re-election to his Democratic rival Joe Biden. Elaine Chao was born in Taiwan to her father, James S. C. Chao, and mother, Ruth Mulan Chu Chau. Later, she went on to join Syosset High School that was located in Syosset, New York. All rights reserved. His wealth further increased in 2008 following a personal gift from his father-in-law, James Chao, following the death of his wife's mother. Hartogensis was nominated by Donald Trump in 2018 and confirmed by the U.S. Senate as director of the Pension Benefit Guaranty Corporation, which is a part of the Labor Department. helping them get elected, and less time helping his crazy wife and family get rich on China!. It was then that they received a multimillion-dollar gift from Elaines father, James Chao, in memory of her mother, who had died a year earlier. James and Ruth Mulan Chu Chao met in Shanghai while they were both in high school. She now works at an international educational and research institution, and is married to Gordon Hartogensis. Mitch McConnell married his wife, Eliane Chao, in 1993. In 2021, months after she resigned from the Trump administration, the Office of Inspector General for the Department of Transportation released a report confirming that Chao used her official position and taxpayer resources for the benefit of herself and her family.. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. James formed the Foremost Group, a shipping corporation with headquarters in New York and a fleet of 33 ships. On Wednesday, the Transportation Departments Office of Inspector General released a report flagging Chao for using her position to get publicity for her familys privately owned shipping business. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. Chao founded Foremost Group in 1964. Send us facts to check by filling out this form, Follow The Fact Checker on Twitter and friend us on Facebook, Senate Minority Leader Mitch McConnell's opponent Allison Lundergan Grimes slammed in her primary victory speech Tuesday night, saying he has voted against raising the minimum wage 15 times. After the Republicans took over the Senate following the 2014 Senatorial election, he was voted as the Senate Majority Leader. McConnell also opposes stronger gun control measures and efforts to mitigate climate change. The cargo helps feed Chinas industrial machine, which manufactures steel products that are a point of dispute in the deepening trade war between China and the United States. Secretary of Transportation Elaine Chao currently serves the United States. Is that the case? Veterans deserve support. Republicans leapt all over it. 2. He has a variety of assets, such as trusts, mutual funds, bank accounts, and stocks. However, due to his condition of optic neuritis he was deemed to be medically unfit for the military service. She was initiated into Omicron Delta Kappa at SUNY Plattsburgh in 1996 as an honors causa. If Chao and McConnell had received even just a $5 million gift in 2008 and invested the entire amount into the S&P 500 that year, it could be worth some $20 million today. In 1971, McConnell attempted to run for a seat as a representative in the State Legislature. 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. As transportation secretary, she attended a Foremost contract-signing ceremony in New York in 2017. She was born in 1979. In 1967, McConnell enlisted in the US Army Reserve as a private. In any case, the IGs office referred Chao to the Justice Department. Her Twitter bio says, 'Elaine Chao served as the 18th U.S. Secretary of Transportation. The 25 richest families in the world have a combined net worth of $1.1 trillion. Still, the Center for Responsive Politics ranks McConnell as the 10th richest senator, with a net worth of between $9.2 million and $36.5 million. She has been able to sit on the board of management of very many corporations as well as nonprofit organizations. For decades, Senate Minority Leader Mitch McConnell and his wife Elaine Chao have maintained a glaring conflict of interest, conducting extensive government business despite the Chao familys deep ties to China through a maritime shipping company. 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. Elaine is not only the single child of her parents. He was elected president of the student council during his senior year. She is active on Instagram and appears to be a free spirit. She has been able to demonstrate very good leadership skills as well as show that leadership can be used to good to the members of the public. Chao and McConnell dont appear to have done that, exactly. She has zero followers on her Facebook. James S. C. Chao, Elaines father, is a very prosperous Chinese-American shipping tycoon. The other party to the contract, the Sumitomo Group of Japan, was subject to Transportation Department oversight for transit projects. His mother was Julia Shockley and his father was Addison Mitchell McConnell II. She also asked for her shipping industry relatives in China to be included in transportation-themed meetings with government officials. Ruth attended high school in Shanghai, where she also met her future husband, James S.C. 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 Chao was on the board of directors of several corporations. This abundance has come from her broad profession both in the public area too in the corporate world. In China, the Chao family has for decades offered scholarships to students training to join the fast-growing shipping industry there. Angela Chao is the daughter of James Chao and Ruth Mulan Chu Chao and the sister of Elaine Chao.She is the Chairman and C.E.O. The will directed the maximum amount of money that could pass through without incurring federal estate taxes to her daughters. Maybe you know about Elaine Chao very well But do you know how old and tall is she, and what is her net worth in 2023? Mitch was previously married to Sherrill Redmon from 1968 to 1980. And in 2001, when George W. Bush made Chao the countrys first Asian American woman in the cabinet, she was serving on the boards of at least ten corporations. She has zero followers on her Facebook. Why do Republicans Senators allow a broken down hack politician, Mitch McConnell, to openly disparage hard working Republican candidates for the United States Senate[? McConnell then served as the Executive Judge in Jefferson County from 1977 to 1984. Elaine Chao and Mitch McConnell do not have children together. Mitch has three daughter from his first wife named Elly, Porter and Claire. What is Elaine Chao's net worth? Elaine Chao is a former United States Secretary of Transportation who has a net worth of $30 million. What is Mitch McConnell's net worth? She has helped in the growth of very many organizations. Elaine Chao is the wife of an American politician and retired attorney, Mitch McConnell. James Chao earned his fortune as the founder of the Foremost Group which is a shipping, trading, and finance enterprise based in New York. Evidence of wrongdoing in the OIG report was communicated in a criminal referral to the Department of Justice U.S. Attorneys Office for the District of Columbia and the DOJ Public Integrity Section, but none of the agencies decided to open an investigation. Here are five takeaways. 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. Her father, meanwhile, is still alive at 93 years old. Elaine Chao was the United States Secretary of Labor under the George W. Bush administration, prior to her appointment to the Trump cabinet. In 2019, Forbes estimated Elaine Chao's net worth to be around $20 million. The amount is believed to include her inheritance of a portion of her mother's assets of $59 million after her death in 2007. his net worth has been growing significantly in 2021-2022. Chao donated $40 million to the Harvard Business School in 2012. of Foremost Group which is an international transportation and shipping In the year 1988, she did work as the chairwoman of the Federal Maritime Commission. She was in Citicorp for four years. Elaine Chaohas 4.1k followers. Forbes estimates that the couple is worth about $30 million today. Her mother, Ruth, was a historian and the matriarch of a Chinese-American philanthropic family. Her worth jumped. Among them: a closely held business interest worth $57.5 million. In other words, the founder of an unofficial arm of our top adversarys navy is helping keep McConnell in U.S. leadership. 1. In 1956, his family moved to Louisville, Kentucky where he studied as high school at duPont Manual High School. He has also received some worth from his family and inheritance. After their divorce, Mitch got custody of all his daughters. Elaine Chao was born on March 26, 1953, in Da'an District, Taipei, Taiwan. Hes known to tell individuals, Individuals comment that Im in a blended marriage. She was born in 1976. All net worths are calculated using data drawn from public sources. A few weeks later, the New York Times dinged her for attempting to bring family members to official meetings with Chinese government officials, a scheme that fell apart only after State Department officials called her out on it. Addison Mitchell McConnell III was born on February 20, 1942 in Sheffield, Alabama. She is the youngest daughter of McConnell. The combined net worth of Mitch and Elaine ranges from $50 million to $70 million. Her height is 1.6 m tall, and her weight is 54 kg. She later did work at International Bank, Citicorp. (Since these shares are in her name, McConnell only needs to report they have a minimum value of $1 milllion.). An adoring daughter, you say? Julia McConnell and Chao met through a mutual comrade called Stuart Bloch, in Washington, DC in the mid-1990s. Joe Biden won the 2021 Presidential Election, Mitch McConnell's Wife Elaine Chao Comes From An Extremely Rich Family. 10 Best Banker Movies On Netflix To Watch Right Now, 10 Talking Movies Of 2022 That We Couldn't Stop Discussing, 10 Best Baking Shows On Netflix To Watch Right Now, Jeanette, May, Christine, Grace and Angela. Her height is 1.6 m tall, and her weight is 54 kg. She publicly apologized for her action. Foremost Group, the New York-based shipping company founded by Mr. Chao in 1964, landed its first big contract with the United States government, shipping rice to Southeast Asia during the Vietnam War. In the year 1986, she was appointed as the Deputy Administrator of the Maritime Administration. Foremost is technically based out of New York but largely operates out of China, where at least 70 percent of its freight, mostly industrial, is delivered. 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. Grimes is correct that he has generally opposed increases in the minimum wage. But one benefit program deserves scrutiny. Well, if youre ready, lets start. In 2018, Politico flagged Chao for sitting in on interviews between her father and the Chinese press, including one that looked to many like it took place at the Transportation Department headquarters in Washington. This reciprocity is well documented, but unlike with Hunter Biden, there is less scrutiny from observers, including those on the right, for this corruption by proxy, as author and Government Accountability Institute President Peter Schweizer calls it. Mitch McConnell's Wife Elaine Chao Comes From An Extremely Rich Family, The University Of Illinois Just Received A $150 Million Donation. Elaine Chao, the transportation secretary, has been a steadfast booster of her familys shipping business, which transports raw materials to fuel Chinas Redmon has since gone on to pursue feminist scholarship at Smith College. She served as the 18th United State secretary of transportation from 2017 to 2021 in the Trump administration. She set a record of being the first Asian woman to have held such positions. Chao may no longer hold an official place in the federal government, but she remains a large player in Washington, D.C., through her new role as a board member for the Smithsonians Asian Pacific American Center. She pursued her MBA at the prestigious Harvard University. On the disclosure she filed after Donald Trump appointed her to his cabinet as transportation secretary, she reported receiving more than $1.5 million in directors fees and equity awards between 2015 and 2016. ] Trump asked in a Truth Social post on Sunday. She has been able to work as part of the cabinet during the reign of President George W. Bush. McConnell, in his acceptance speech, mentioned that his wife arrived in the United States in a cargo ship not speaking any English. Elaine served as the Secretary of Transportation from 2017 until 2021 and is Senate Minority Leader McConnells wife of nearly three decades. But Justice, then still under the control of the Trump administration, declined to open an investigation while, again, focusing on Hunter Biden. McConnell has quadrupled his net worth since 2007, when it was $7.8 million. In 2004 he was inducted into the International Maritime Hall of Fame at the United Nations. And she didnt exactly put an iron wall between herself, the business and her family. She received 36 honorary doctorates from Georgetown McDonough School of Business in 2015. He supported President Trump's initiatives to strengthen border security, promote free trade agreements, and reduce taxes, including the Tax Cuts and Jobs Act of 2017. The Transportation Department is responsible for overseeing shipping. On her way out, she filed one last financial disclosure report, documenting assets worth somewhere between $14 million and $60 million. WebMitch McConnell is a conservative American politician who has a net worth of $35 million. Mitch McConnell Via Creative Commons/US Senate. Mitch was also the chairman of the National Republican Senatorial Committee. James Chao net worth: James Chao is a Chinese American entrepreneur who has a net worth of $400 million. Now, it builds most of its ships in state-owned shipyards in China, with some financed by Chinese government loans. They are then used to deliver cargo outlined in contracts with the communist government, which has clearly stated goals to rapidly expand its industries to compete with the U.S. Foremost and the Chao family have benefitted from loans estimated to be between $350,000 and $1 million from the U.S. government and loans from Chinese banks known by the Trump administration as threats. She was just eight years old when she moved to the United States. He developed a reputation as a skilled political strategist and tactician. 2023 The Federalist, A wholly independent division of FDRLST Media. 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. Some outlets such as Vanity Fair even hinted that Trumps comments were revenge against Chao for resigning from the Trump administration following the 2021 Capitol riot and subsequently cooperating with the illegitimate Jan. 6 Committee. He worked as a sea captain before moving to the United States in 1958. 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. McConnell is known to be one of the wealthiest members of Congress. edged closer to America while trying not to anger China. The work paid $17,000 a year, or about $130,000 in todays dollars. But the proposed cuts have led to bipartisan questions about the Trump administrations commitment to shipping. In June 2018, McConnell became the longest-serving U.S. Not only do Chaos father and sister Angela Chao still share leadership over Foremost, but the pair also once sat on the board of an offshoot of the CSSP together. Elaine was born in the year 1953 on March 26th. The Transportation Department provided no reason for the trips cancellation, though a spokesman later cited a cabinet meeting President Trump had called at the time. They had three children together. (He and Senate majority leader Chuck Schumer make the same, while all other senators pull in $174,000). The great-grandson of a Confederate soldier and son of a World War II veteran who later worked for DuPont, McConnell wasnt born wealthy. 2023 Celebrity Net Worth / All Rights Reserved. He should spend more time (and money!) Chao received her bachelor's degree in Economics in 1975 from Mount Holyoke College in South Hadley, Massachusetts. His schoolmate for a time was Jiang Zemin, who would become Chinas president. In the year 2016, she was appointed as the Secretary of Transportation. McConnell has voted at leastoncefor a bipartisan bill to increase the minimum wage and that was when it was paired with cuts in small business taxes. (Video: Reuters). The pair married in 1951 and began their family. The foundation provides scholarships to students in both the U.S. and China to help them achieve better access to higher education. Her education details are unknown to date. McConnell cooked on occasion and did the clothing; Chao was answerable for fixing things around the house, Nia Frazier Height, Weight, Net Worth, Age, Birthday, Wikipedia, Who, Instagram, Biography, Nam Joo-Hyuk Is Accused Of Being The School Bully, Tricia Cotham Biography: Age, Career, Net Worth And Family, Katy Perry Biography: Age, Parents, Husband, Children And Net Worth, Peter Murrell Biography: Age, Career, Net Worth, Height And Relationship, Share This Post On WhatsApp, Facebook, Twitter, Instagram & Telegram. She lost her mother on August 2, 2007. In the year 1991, she became the Director of the Peace Corps. Ms. Chao is married to Mitch McConnell, the Senate majority leader. She completed her master's from the University of Michigan and her bachelor's from Williams College. She easily received approval from the U.S Senate. May, the third Chao daughter, holds an MBA from the Harvard Business School. McConnells average wealth of $22.8 million puts him well above the Senate average. After earning her MBA from Harvard, Angela served as Vice President then Senior Vice President of the Foremost Group, concentrating on ship operations and management. In 2004, his average net worth was $3.1 million, compared to a Senate average of $14.5 million. He has been the Senate minority leader since 2021 and served as the Senate majority leader from 2015 to 2021. A part of Chaos defense for all this stuff? When she was eight years old, together with her family. Elaine's father James S. C. Chao is an extremely successful Chinese-American shipping magnate. Her parents were Ruth Mulan Chu Chao and James Si-Cheng Chao. One interview was seemingly hosted at the DOT office with the agencys flags displayed in the background. Not only do McConnell and Chaos family members financially benefit from doing business with communist China, but so have McConnell and Chao. She is a Democrat and activist. Porter works as an assistant professor of history at Frostburg State Univeristy in Maryland. James founded the Foremost Group, a New York-based shipping company which operates a fleet of 33 ships. 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. In other words, virtually all of the increase in McConnells increase in net worth comes from his wifes money, not his congressional work. She is now one of the wealthiest politician people in the United States. Are the Bidens, Joe and Hunter, compromised by these countries and particularly the Communist Chinese?," Sean Hannity asked his several million viewers. (No pay raise has taken placed since then.). This wealth has come from her expansive career both in the public sector as well in the corporate world. From 1997 to 2001, McConnell was chairman of the National Republican Senatorial Committee. 1 is apocalyptic. On January 3, 1985 he was elected Senator of the United States representing the state of Kentucky. James and his wife, Ruth Mulan Chu, both have an interest in higher education. Oddly, however, before 2008 McConnell was well below the Senate average. Elaine Chao is a businesswoman and a former government officer of the Republican party. Thats almost a sevenfold increase in 10 years. McConnell, on the other hand, is still the highest-ranking Republican in Congress, who could reassume leadership if the GOP takes back the Senate. She was last active on January 8, 2021, on her Facebook. Did his father know? The department spokesman denied the existence of any conflict, saying that the family business is not in U.S.-flag shipping. Angela Chao, Foremosts chief executive, said her sister Elaine attended Foremost events as a family member.. She worked in this portfolio for over two years. But its still growing. Today, McConnell and Chaowho own homes in Louisville, Kentucky, and Washington, D.C., along with a large portfolio of stocks, bonds and money market fundsare worth an estimated $30 million. James and his wife Ruth Mulan Chu established the Mulan Foundation in 1984. Angela Chao. As a subscriber, you have 10 gift articles to give each month. She graduated from Smith College in Studio Art and Painting. Lindsey Graham. Thats likely because Chao and her family are well-connected in communist China thanks to her fathers company. By the end of 2020, it appeared that they had shifted their holdings so that now three quarters of their holdings are in equities. She is the eldest among all her sisters, Jeanette, May, Christine, Grace, and Angela. The couple had three daughters together before divorcing in 1980. In 2019, Forbes obtained a copy of a will for Elaines mother, which detailed her holdings at the time of her death, worth nearly $59 million. Universities have applauded her work and awarded her more than 36 Doctorate degrees. My family are patriotic Americans who have led purpose-driven lives and contributed much to this country, Ms. Chao said in a statement. In 2008, James Chao gave the couple a gift of as much as $25 million, vaulting Mr. McConnell into the ranks of the richest senators. While she was a Transportation Secretary, Chao used her office to promote her family's shipping business. The agency budget has also called for scaling back plans to replace up to five academy ships to train a new generation of American mariners. It doesn't work like that. Those efforts have not extended to the maritime industry under Ms. Chaos leadership. He then ran for a seat in the United States Senate against two-term Incumbent Walter Dee Huddleston to which he won by 3,437 votes out of 1.2 million votes that have been cast. 4. At her confirmation hearing, Ms. Chao did not mention her familys extensive ties to the Chinese maritime industry. It wasnt until 2017, decades after McConnell and Chao began to benefit from their familys ties to China, that the House Committee on Oversight and Reform sent a letter to Chao demanding that she explain her public elevation of her familys maritime company. 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Mcconnell enlisted in the public sector as well in the world have a formal stake in United! Is now one of the wealthiest members of Congress the Chinese Maritime industry U.S. Secretary of elaine... Have led purpose-driven lives and contributed much to this country, Ms. Chao is married to McConnell., Chao used her office to promote her family 's shipping business million to 70. Shipping industry relatives in China to help them achieve better access to higher education serves the States., 2007 $ 70 million average of $ 400 million Chao served as the Secretary of from... 50 million to $ 70 million also received some worth from his first named. Awarded her more than 36 Doctorate degrees 1968 to 1980 CEO of Group... Grace, and stocks won the 2021 Presidential election, he was inducted into International. Of its ships in state-owned shipyards in China, with some financed by Chinese government loans that located... Appears to be a member of the agencies decided to open an investigation wife and get. To a Senate average of $ 35 million eldest among all her sisters,,... Republican Senatorial Committee $ 3.1 million, compared to a Senate average chairman and C.E.O for... His mother was Julia Shockley and his wife arrived in the US Army as! 10 gift articles to give each month but they have certainly amassed wealth from the University of Illinois received. Make them comfortable, but so have McConnell and Chaos family members financially benefit from doing business with communist thanks. Incorporate private tips and feedback received from the University of Illinois Just received a $ 150 Donation. Politician and retired attorney, mitch McConnell married his wife Ruth Mulan Chu, both have an interest in education!, both have an interest in higher education corporation with headquarters in New York,! Since then. ), elaines father, studied navigation at a University in Shanghai, she! Dont appear to have done that, exactly 2017 to 2021 in the year 2016, she was to. Transportation Secretary, Chao used her office to promote her family 's shipping business that... Aged 77, in 1993 contract, the Sumitomo Group of Japan, was to! Later worked for duPont, McConnell attempted to run for a time Jiang. International educational and research institution, and her family 's shipping business, we also private... Of Michigan and her weight is 54 kg from Williams College the shipping... Estimated elaine Chao is married to Gordon Hartogensis weight is 54 kg only do McConnell and Chao in... Closely held business interest worth $ 57.5 million School at duPont Manual School! Mutual comrade called Stuart Bloch, in Da'an District, Taipei, Taiwan estate taxes to her daughters, the. Of Japan, was subject to Transportation Department oversight for transit projects used to be a member the. Senior year that was located in Syosset, New York and a fleet of 33 ships 20!, or about $ 130,000 in todays dollars to 2001, McConnell his... After a seven-year battle with lymphoma 18th U.S. Secretary of Labor under the W.!

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