Billionaire investor Wilbur Ross confirmed as Trump’s secretary of commerce

Wilbur L. Ross, Jr., a former banker and investor who earned billions during decades of buying and selling industries and who President Trump has touted to lead his trade negotiations, was confirmed as secretary of commerce by the Senate in a 72-to-27 vote.

Dubbed the “king of bankruptcy” for his leveraged buyouts of battered companies in the steel, coal, textile and banking industries, Ross has generated a fortune of $2.5 billion, ranking him among the wealthiest 250 people in America. Ross worked for decades at the New York investment bank of Rothschild, during which time he represented Trump's failing Taj Mahal casino and helped forge a deal that allowed President Trump to retain ownership. In the early 2000s, Ross purchased some of America’s largest steel mills, including Pennsylvania’s Bethlehem Steel and Cleveland’s LTV Corp. He later sold his steel conglomerate to India’s Mittal Steel, helping to form what is now the world’s largest steel company.