The Mystery Of Wilbur Ross’ Missing Billions

Forbes: “What he left unsaid, however, was that between the November election and January inauguration, he had quietly moved a chunk of assets into trusts for his family members, leaving more than $2 billion off of his financial disclosure report—and therefore out of the public eye. Ross revealed the existence of those assets, and the timing of the transfer, when Forbes asked why his financial disclosure form listed fewer assets than he had previously told the magazine he owned.”

“The hidden assets raise questions about whether the Secretary of Commerce violated federal rules and whether his family owns billions in holdings that could create the appearance of conflicts of interest.”

“Federal law requires incoming cabinet members to disclose assets they currently own, as well as any that produced income during the current and previous calendar years, even if they no longer own the assets. Ross says he followed all rules. But how someone could apparently hold $2 billion in assets, without producing big income that would show up on a financial disclosure report, raises more questions than answers.”