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Billionaire investor Wilbur Ross was confirmed as President Trump's secretary of Commerce on Monday night by a vote of 72 to 27 in the U.S. Senate.

Ross will divest from the private equity firm he founded, WL Ross & Co., as part of his ethics agreement upon entering government service. He will retain other financial interests but has pledged not to take any action as commerce secretary that would benefit a company in which he holds a stake.

 for much of his adult life but was an early supporter of Trump's candidacy. In a June 2016 interview with 

As commerce secretary, Ross will play a key role in shaping administration policy on trade. He has pledged to renegotiate the North American Free Trade Agreement, the giant trade pact with the U.S., Canada and Mexico.


Ross' confirmation process was, compared with many other Trump Cabinet nominations, relatively smooth. He was not significantly challenged at his 

 before the Senate Commerce Committee. In the full Senate, 19 Democrats and one independent joined Republicans to confirm him.


Ross has an estimated net worth of $2.9 billion. According to NPR's Marilyn Geewax:


Some left-wing advocacy groups criticized Ross as a "vulture capitalist" and opposed his nomination. But he 

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Wilbur Ross, 79, made his fortune buying distressed companies and restoring them to health. Criticized by some as a "vulture capitalist," Ross received the support of the United Steelworkers union.

Ross confirmed as commerce secretary

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