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.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
In the Spotlight Venezuelan President Nicolás Maduro has been at odds with US forces
-
Music reviews: Ethel Cain, Amaarae, and The Black Keys
Feature "Willoughby Tucker, I'll Always Love You," "Black Star," and "No Rain, No Flowers"
-
Film reviews: Highest 2 Lowest and Weapons
Feature A kidnapping threatens a mogul's legacy and a town spins into madness after 17 children disappear
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages