How much is Elaine Chao worth?
| Net Worth: | $20 Million |
|---|---|
| Title: | Former United States Secretary of Transportation |
| Date of Birth: | 26 March 1953 |
| Country: | United States of America |
| Height: | 1.6 m |
About Elaine Chao
Within the United States Department of Transportation’s Maritime Administration in 1986, Chao was appointed to the position of Deputy Administrator. She held the position of Chairwoman of the Federal Maritime Commission for the two years 1988 and 1989. Chao was nominated for the position of Deputy Secretary of Transportation by President George H. W. Bush in 1989, and she held that position from 1989 until 1991.
Elaine Chao was born on March 26, 1953, in Taipei, Taiwan. She is the eldest of six daughters that her mother, Ruth Mulan Chu Chao, who is a historian, and her father, James S. C. Chao, who started her career as a merchant mariner and in 1964 established the shipping company Foremost Maritime Corporation in New York City, which developed into the Foremost Group, are responsible for. Ruth Mulan Chu Chao is a historian. James S. C.
Before Chao entered public service, she held the position of vice president for syndications at Bank of America Capital Markets Group in San Francisco. Prior to that, she worked as an International Banker at Citicorp in New York for a period of four years, beginning in 1979 and continuing until 1983.
During the administration of Ronald Reagan, she was awarded a White House Fellowship in the year 1983. After that, she worked at Bank of America as Vice President of Syndications from the years 1984 to 1986. She held the position of Director of the Peace Corps from 1991 until 1992.
She made history by becoming the first person of Asian or Pacific Islander ancestry to hold any of these posts. She was responsible for founding the first Peace Corps programs in Poland, Latvia, Lithuania, and Estonia, as well as in the states that had recently gained their independence from the Soviet Union. This allowed her to increase the Peace Corps’ presence in Eastern Europe and Central Asia. After serving in the administration of former President George H.W. Bush, Chao assumed the roles of president and chief executive officer of United Way of America for a period of three years, from 1993 to 1996.
Chao was a Distinguished Fellow at The Heritage Foundation, a conservative think tank in Washington, District of Columbia, from 1996 until the time when she was appointed to the position of Secretary of Labor in 2017. During her time away from public service, Chao has had positions on the boards of directors of a number of private companies and has worked for the conservative think tanks The Heritage Foundation and the Hudson Institute. Mitch McConnell, a senator for the United States, is Chao’s husband.
