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HomeNEWSWORLD NEWSDonald Trump picks Wilbur Ross, billionaire investor, for commerce secretary

Donald Trump picks Wilbur Ross, billionaire investor, for commerce secretary

WASHINGTON (AP) – 24 Nov. 2016- Wilbur Ross, the billionaire investor considered the “king of bankruptcy” for buying beaten-down companies with the potential to deliver profits, is President-elect Donald Trump’s choice for commerce secretary, a senior transition official said.


The official isn’t authorized to publicly discuss the matter and requested anonymity.


Reputed by Forbes to be worth nearly $3 billion, the 78-year-old Ross would represent the interests of U.S. businesses domestically and abroad as the head at Commerce. His department would be among those tasked with carrying out the Trump administration’s stated goal of protecting U.S. workers and challenging decades of globalization that largely benefited multinational corporations.


If confirmed by the Senate as commerce secretary, Ross would oversee nearly 47,000 employees and a budget of roughly $8 billion.


Among its responsibilities, the Cabinet department provides data on the economy through the Census Bureau and monitors the environment through the National Oceanic and Atmospheric Administration.


One former commerce secretary, Donald Evans, noted that a prime responsibility is opening up markets around the world for U.S. companies and workers.


“What you are is ambassador to the world from America,” said Evans, who served under President George W. Bush.

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