Former Commerce Secretary Wilbur Ross, known as the “King of Bankruptcy” during his 55 years on Wall Street, had aspirations of becoming a writer during his college years. Despite his love for literature and writing, Ross found himself running in the fast-paced world of finance. His upcoming book, “Risks and Returns: Creating Success in Business and Life,” delves into his journey from a young bookworm at Yale to a seasoned businessman rubbing shoulders with some of the most influential figures in the world.
Ross reflected on his time living at the iconic Dakota building in New York City, where he resided for 20 years. The Dakota, known for its prestigious residents such as John Lennon, Leonard Bernstein, and Rudolf Nureyev, provided Ross with a unique environment where he stood out as one of the few “Wall Street types” among artistic legends. Recalling the night of John Lennon’s tragic assassination in 1980, Ross shared his memories of the aftermath and the support the building’s community provided during that difficult time.
Ross’s path crossed with former President Donald Trump during a bankruptcy proceeding involving the Trump Taj Mahal. Initially adversaries in the legal battle, Ross and fellow Wall Street titan Carl Icahn found themselves supporting Trump in his presidential run years later. Despite their past disputes, Ross’s deal played a role in helping Trump avoid personal bankruptcy at a crucial moment. Ross later became a vocal supporter of Trump’s campaign, writing editorials and making appearances to endorse the GOP candidate.
Upon Trump’s election, Ross was appointed as Commerce Secretary, leading what he describes as “the most complicated conglomerate in the US government.” His tenure involved significant challenges, such as hiring over 400,000 temporary workers and doorknockers for the census within a tight timeframe. Drawing from his own experience as a census taker while working his way through Harvard Business School, Ross navigated the complexities of overseeing the census operations despite facing criticism over certain decisions, such as reinstating a US Census question about citizenship.
Despite the controversies and challenges he faced during his time in government, Ross’s upcoming book reflects on his experiences and the lessons learned throughout his career. The endorsements from prominent figures in business and media speak to the impact Ross has had on those around him, showcasing a legacy that goes beyond his Wall Street reputation.
Wilbur Ross’s journey from a young writer to a seasoned businessman and government official is a testament to the twists and turns life can take. His reflections on success, relationships, and challenges provide valuable insights for readers looking to navigate their own paths in business and life. As Ross continues to share his story, his legacy as a significant figure in American business and politics remains a compelling narrative for those seeking inspiration and guidance in their own pursuits.