Wil­bur’s wealth

The Irish Times - Business - - BUSINESS / INTERVIEW -

What an in­ter­est­ing week it has been for US com­merce sec­re­tary Wil­bur Ross, pic­tured here ar­riv­ing to ad­dress del­e­gates at the an­nual Con­fed­er­a­tion of Bri­tish In­dus­try (CBI) con­fer­ence in Lon­don on Mon­day – not that his at­ten­dance at this event has any­thing to do with the in­ter­est­ing­ness of his week.

Ross was one of the early stars of the Par­adise Pa­pers, which re­vealed he has in­vest­ments in a Rus­sian ship­ping com­pany that does busi­ness with a com­pany con­nected to Putin’s son-in-law and some Rus­sian busi­ness lovelies sub­ject to US sanc­tions.

Ross said there was “noth­ing what­so­ever im­proper” about this – the two busi­nesses were like ships pass­ing in the night.

Then on Tues­day, Forbes said Ross had been in­flat­ing his net worth for, um, quite a while now. The mag­a­zine has re­vised down its es­ti­mate of his wealth from $2.5 bil­lion to $700 mil­lion, which would mean he’s not a billionaire, but a mere mul­ti­mil­lion­aire. Ouch.

PHO­TO­GRAPH: DANIEL LEAL-OLI­VAS / AFP / GETTY

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