Wilbur Ross — Compensation & Financial Record

Wilbur Ross Position: Secretary of Commerce (2017–2021) Party: R

Government Compensation Annual salary: $253,100 (Cabinet Level I) Total government salary earned: approximately $1,012,400 (4 years)

Retirement Ross served 4 years as Secretary of Commerce. Under FERS with 4 years of service he is eligible for a deferred pension beginning at age 62. Estimated annual pension: approximately $10,000-$17,000 per year based on FERS formula. This represents a negligible fraction of his disclosed net worth of less than $700,000,000.

Financial Position Net worth at entry (2017): Less than $700,000,000 (disclosed on SF-278) Previously claimed: $2,900,000,000 (Forbes 400 figure, subsequently retracted by Forbes) Primary source: SF-278 nominee disclosure (Scribd mirror): https://www.scribd.com/document/337470989/Ross-Wilbur-l-Financial-Disclosure-U-S-Secretary-of-CommerceOGE ethics compliance letter (July 2018): https://www.oge.gov/web/OGE.nsf/Congressional%20Correspondence/773DF9A720DCE431852585B6005A1CF5/$FILE/Follow-up%20letter%20to%20 Forbes investigative report on phantom billions: https://www.forbes.com/sites/danalexander/2017/11/07/the-case-of-wilbur-ross-phantom-2-billion/

Net worth at exit (2021): No primary source document available.

Post-Government Income Post-government income: No primary source document available. Official disclosure requirements end upon departure from government service.

Campaign Finance No federal electoral campaigns filed.

Primary Sources

• SF-278 (Scribd mirror): https://www.scribd.com/document/337470989/Ross-Wilbur-l-Financial-Disclosure-U-S-Secretary-of-Commerce

• OGE ethics compliance letter: https://www.oge.gov/web/OGE.nsf/Congressional%20Correspondence/773DF9A720DCE431852585B6005A1CF5/$FILE/Follow-up%20letter%20to%20

• Forbes phantom billions investigation: https://www.forbes.com/sites/danalexander/2017/11/07/the-case-of-wilbur-ross-phantom-2-billion/

• LA Times report: https://www.latimes.com/business/la-na-pol-wilbur-ross-wealth-20171107-story.html

• Commerce Department statement: https://2017-2021.commerce.gov/news/press-releases/2018/07/statement-us-secretary-commerce-wilbur-ross.html

Notes Ross claimed a net worth of $2,900,000,000 on the Forbes 400 list prior to his nomination. His SF-278 financial disclosure revealed actual disclosed assets of less than $700,000,000. Forbes subsequently investigated and retracted his Forbes 400 listing, concluding that Ross had misrepresented his wealth by approximately $2,000,000,000. The OGE issued a formal ethics compliance letter regarding his financial disclosures in July 2018. Post-government income: No primary source document available. Official disclosure requirements end upon departure from government service.your text here...