Speed Reads

Trump Cabinet

Senate confirms billionaire investor Wilbur Ross as commerce secretary

The Senate on Monday evening confirmed Wilbur Ross as commerce secretary on a 72-27 vote. Ross has extensive business relationships around the world, and to comply with an ethics agreement he will divest from the private equity firm he founded in 2000, WL Ross & Co., and drop his position, though not his stake, in shipping company Diamond S. Shipping. Ross, worth about $2.9 billion, also vowed he will not act to benefit any company he has a financial interest in. The Senate has now confirmed 15 of Trump's 22 Cabinet-level picks. Next on the docket is Rep. Ryan Zinke (R-Mont.) for interior secretary.