Episode 2189: Wilbur Ross on his mom, Donald Trump, King Charles, and Biden's "Lollipop Economy"

Keen On

As Donald Trump’s 79 year-old Secretary of Commerce, Wilbur Ross was the oldest first-time Cabinet appointee in American history. Ross’ mom, however - Agnes, a lifelong New Jersey schoolteacher and proud Democrat - probably wouldn’t have been proud of her boy. As he acknowledges in his new memoir, Risks and Returns, Agnes always wanted her son to attend law school and was far from thrilled when Wilbur, then known on Wall Street as the “King of Bankruptcy,” became associated with Trump over one of his notorious bankruptcies. But as Wilbur confessed to me, he’s still thinking, at the grand old age of 86, of making Agnes proud by going back to law school. Although, of course, that plan might be waylaid if Trump is, indeed, elected in November and invites the Wall Street financier back into his administration.

Before being named President Trump’s secretary of commerce in 2017, Wilbur Ross had already earned a reputation as the “King of Bankruptcy” over his 55-year career on Wall Street. Often working on high-profile bankruptcies such as Pan Am and Texaco, Ross helped restructure more than $400 billion in assets, and was named among Bloomberg’s 50 most influential people in global finance. After coming to Washington, Ross faced equally tough challenges, yet survived in his post for all four years. Ross shares the story of how he got to the top and stayed there in his new book Risks and Returns: Creating Success in Business and Life. He rose from humble beginnings in North Bergen, New Jersey, applied simple principles with strict discipline, and ultimately Ross’s strategies and dealmaking skills led to relationships with King Charles, Warren Buffett, Carl Icahn, the Rothschild family, Steve Wynn, Lakshmi Mittal, Mike Milken, and many other famous personalities.

Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best known broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running How To Fix Democracy show. He is also the author of four prescient books about digital technology: CULT OF THE AMATEUR, DIGITAL VERTIGO, THE INTERNET IS NOT THE ANSWER and HOW TO FIX THE FUTURE. Andrew lives in San Francisco, is married to Cassandra Knight, Google's VP of Litigation & Discovery, and has two grown children.

Keen On is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe