|Date of Birth:
|March 26, 1953 (70 years old)
|United States of America
What is Elaine Chao’s Net Worth?
Elaine Chao is a Taiwanese American who is the United States Secretary of Transportation and has a net worth of $30 million. She is a Republican politician and the wife of Senator Mitch McConnell.
She has held a number of government positions, including Secretary of Labor and Secretary of Transportation. Mitch McConnell and she have been married since 1993.
Elaine Chao was born in Taipei, Taiwan in March 1953. James S.C. Chao and Ruth Mulan Chu Chao are the parents of Elaine Chao. After graduating from Mount Holyoke College, she went on to Harvard University to get her MBA.
From April 1988 to April 1989, Chao was the Federal Maritime Commission’s commissioner. From April 1988 to April 1989, she presided over the Federal Maritime Commission as its chair. From April 1989 to October 1991, Elaine Chao served as the deputy secretary of transportation for the United States.
From October 1991 to November 1992, she oversaw the Peace Corps as its 12th Director. From January 2001 to January 2009, Chao served as the 24th Secretary of Labor for the United States. She was appointed as the 18th Secretary of Transportation of the United States in 2017.
James S. C. Chao, Elaine’s father, is a very prosperous Chinese-American shipping tycoon. James formed the Foremost Group, a shipping corporation with headquarters in New York and a fleet of 33 ships. Before debt, Foremost is worth an estimated $1.2 billion.
The Chao family’s ownership in Foremost is thought to be worth $600 million after debt, investments from China’s Export-Import Bank and Taiwan’s First Commercial Bank, and debt. Elaine has a younger sister named Angela who works as the CEO.
The total wealth of Mitch and Elaine was $3 million prior to 2007. Mitch and Elaine’s personal net worth increased to $12.7 million in 2007 as a result of receiving an inheritance that was valued between $5 and $25 million after Elaine’s mother passed away. Their disclosed net worth today could reach $35 million.
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