Wilbur Louis Ross Jr. is an American investor and the current United States Secretary of Commerce. On November 30, 2016, then-President-elect Donald Trump announced that he would nominate Ross for that post. On February 27, 2017, the Senate confirmed him in a 72–27 vote. He was sworn into office on February 28, 2017.Before he was appointed, Ross was a banker known for restructuring failed companies in industries such as: steel, coal, telecommunications, foreign investment and textiles and who specialized in leveraged buyouts and distressed businesses. In February 2017, Forbes magazine reported that Ross has a net worth of $2.5 billion. However, financial disclosure forms Ross filed after his nomination for Secretary of Commerce showed less than $700 million in assets, and Forbes removed him from their billionaires list in November 2017.