Before being appointed as Commerce Secretary by President-elect Donald Trump, investor Wilbur Ross Jr. was a banker well known for restructuring failed companies through leveraged buyouts. He earned himself the name “King of Bankruptcy” for his experience buying bankrupt companies in the manufacturing and steel industries and selling them for a large profit.
His portfolio included $1.3 billion in municipal bonds, $1.3 billion of interests, $550 million in equities, $225 million in art, $180 million cash, and $120 million real estates for a total of $3.7 billion.
Who knew there was so much to me made using bankruptcy law?
