Angela Chao (March 4, 1973 – February 11, 2024)[1][failed verification] was an American billionaire businesswoman who was CEO of the Foremost Group.
Angela Chao | |
|---|---|
| Born | March 4, 1973 Syosset, New York, U.S. |
| Died | February 11, 2024 (aged 50) Johnson City, Texas, U.S. |
| Alma mater | Harvard University (BA, MBA) |
| Occupation | Businesswoman |
| Spouses | |
| Children | 1 |
| Parent(s) | James S. C. Chao Ruth Mulan Chu Chao |
| Relatives | Elaine Chao (sister); Mitch McConnell (brother-in-law) |
Early life and education
editOf Chinese American heritage, Chao was born in Syosset, New York, and grew up in Harrison, New York.[2] Her father was James S. C. Chao, who founded Foremost Group in 1964.[3] Her mother was Ruth Mulan Chu Chao.[4] She was the youngest of six sisters, one of whom is Elaine Chao, former US Secretary of Transportation.[5] Her parents were born in mainland China, but fled to Taiwan in 1949 due to the Chinese Civil War. Her father came to the United States in 1958, while her mother and three oldest sisters moved to the United States in 1961.[2][4][6] At the age of nine, Chao began joining her father on ship visits.[3][7]
Chao went to Harvard for her undergraduate degree, which she completed in three years, graduating magna cum laude with a degree in economics in 1994.[2][8] She went on to receive her MBA from Harvard Business School.[3]
Career
editChao worked in mergers and acquisitions at Smith Barney, now a part of Morgan Stanley. She joined their family business Foremost Group in 1996,[2] where she succeeded her father as CEO in 2018.[3] Foremost Group operates a global fleet of bulk carriers. As CEO, she became interested in adding more environmentally sustainable vessels that can burn alternative fuels to the company's roster.[2]
At one point in her career, she was a member of the board of the Bank of China, a vice chair of the Council of China's Foreign Trade and a director of the China State Shipbuilding Corporation, a Chinese government-owned enterprise that makes ships for the Chinese military, Foremost Group and other customers.[2][9] She was a member of the Council on Foreign Relations.[10] Chao was a founding member of The Asian American Foundation and the co-chair of its education committee.[2]
Personal life
editChao married Bruce Wasserstein in January 2009,[11] before his death in October of that year. She married Jim Breyer in 2012;[2] the couple had a son three years prior to her death.[2][3] Chao and Breyer had moved to the Austin area during the COVID-19 pandemic. They bought a mansion in downtown Austin and a ranch in Johnson City. They had previously split their time between New York City and San Francisco, but before their son was born, they decided to raise him in Austin.[8]
Death
editOn the evening of February 10, 2024, Chao was celebrating the Lunar New Year with friends at her Johnson City ranch.[12] As her guests began going home, she got into her Tesla Model X and accidentally backed into a pond. The car began sinking, and Chao was unable to open her door or break the glass as the car filled with water. Chao was on the phone for eight minutes as the car sank, from around 11:42 to 11:50 p.m., telling her friend she was going to die.[12] Onlookers called 911 and attempted to help. Blanco County emergency personnel arrived around midnight and tried to enter the car.[12] A deputy broke the driver's door window and went underwater where he found Chao and dragged her to shore. EMS workers were unable to revive her, and she was pronounced dead at 1:40 a.m. on February 11; she was 50 years old.[12] A March 2024 police investigation concluded that Chao's blood alcohol level was nearly three times the legal limit and that her death was the result of an accident.[12][8][13][2][14]
References
edit- ^ "Angela Chao, shipping industry exec, died on Texas ranch after her car went into a pond, report says". San Diego Union-Tribune. March 11, 2024. Retrieved October 29, 2024.
- ^ a b c d e f g h i j Bradsher, Keith; Forsythe, Michael (February 14, 2024). "Angela Chao, C.E.O. of Family's Big Shipping Company, Dies at 50". The New York Times. Archived from the original on February 16, 2024. Retrieved February 15, 2024.
- ^ a b c d e Isidore, Chris (February 14, 2024). "Shipping CEO Angela Chao, sister of former Cabinet member Elaine Chao, dies in car crash". CNN Business. Archived from the original on February 15, 2024. Retrieved February 15, 2024.
- ^ a b Paid Notice: Deaths: Chao, Ruth Mulan Chu, The New York Times, August 8, 2007|
- ^ "Angela Chao, shipping business CEO and Mitch McConnell's sister-in-law, dies in Texas". AP. February 15, 2024 – via ABC News.
- ^ Mrs Ruth Mulan Chu Chao, The Foremost Foundation.
- ^ Martin, Eric (May 24, 2018). "Angela Chao is putting family values Foremost". TradeWinds. Archived from the original on February 15, 2024. Retrieved February 15, 2024.
- ^ a b c Findell, Elizabeth; Bauerlein, Valerie; Hobbs, Tawnell D.; Lombardo, Cara. "A Mistake in a Tesla and a Panicked Final Call: The Death of Angela Chao". WSJ. Retrieved March 12, 2024.
- ^ Mangan, Dan (February 16, 2024). "Foremost Group CEO Angela Chao died after car went into Texas pond, sheriff says". CNBC. Archived from the original on February 16, 2024. Retrieved February 16, 2024.
- ^ Hawkins, Lori (February 17, 2024). "Austinite Angela Chao, who died in a car crash, led an impressive professional career". Austin American-Statesman.
- ^ Cohan, William D. (March 29, 2010). "Bruce Wasserstein's Last Surprise". Vanity Fair. Archived from the original on April 8, 2023. Retrieved February 16, 2024.
- ^ a b c d e Levenson, Michael (March 20, 2024). "Angela Chao Was Intoxicated When She Died in Car Wreck, Police Report Shows". The New York Times. Archived from the original on August 2, 2024. Retrieved March 20, 2024.
- ^ Rogers, Chase (February 24, 2024). "Austin CEO Angela Chao submerged in vehicle over an hour as rescuers worked to save her". Austin American-Statesman.
- ^ Weber, Christopher (March 20, 2024). "Angela Chao, Mitch McConnell's sister-in-law, was drunk when she drove into pond, police say". Associated Press. Retrieved March 20, 2024.