Ross Brings to Commerce a Resume That Spans Profit and Politics

Ross Brings to Commerce a Resume That Spans Profit and Politics

President-elect Donald Trump on Wednesday officially anonounced his picks for three top econimic posts in his administration - a trio that includes a former Wall Street executive with Hollywood ties, a New Jersey-bred billionaire, and a co-owner of the World Series champion Chicago Cubs.

Wilbur Ross Jr., a billionaire financier known for his investments in the USA steel, coal and auto parts industries, has been chosen by Donald Trump as the next secretary of commerce.

Ross was previously part of the Trump campaign's economic team (as senior advisor on trade) and contributed to Trump's 100-day action plan.

Ross, famously known as the "King of Bankruptcy", is a big fan of deregulation and has been accused of being anti-worker for his business dealings.

With a net worth of $2.9 Billion, Ross now ranks 232nd on 2016's Forbes 400 list.

The 78-year-old billionaire has resurrected companies in the steel, coal and textiles industries.

Ross told Burnett that renegotiating NAFTA, signed in 1992 by President Bill Clinton, would be a "logical starting point" for the Trump administration.

Ross and investor Carl Icahn made a decision to restructure the bankruptcy filing in 1991, according to The New York Times, which allowed Trump to save his brand. In 2004, Mittal Steel purchased International Steel Group for $4.5 billion. In 2005, 12 coal miners in West Virginia working for a company he owned died in a mine plagued by a history of safety lapses.

Ross served as an economic adviser to Trump during the campaign and shares Trump's views on the Trans-Pacific Partnership, calling it the "worst trade deal yet for American manufacturing" in an August op-ed in the Pittsburgh Post-Gazette.

Ross must be confirmed by the Senate to serve as secretary of commerce.

That lead Trump's former campaign manager Kellyanne Conway to recently blast Trump's decision to even consider Romney for the top global post, something her boss reportedly wasn't too pleased about. He holds a bachelor's degree from Yale University and a MBA from Harvard University. Joe Ricketts and his wife Marlene also contributed almost $344,000 to support Trump's campaign and the Republican Party.