Angela Chao, the CEO of Foremost Group, a global fleet of bulk carriers, died on February 11, 2024, at the age of 50. According to the Blanco County sheriff, she died after her Tesla went into a pond on a private ranch in Johnson City, about 40 miles west of Austin, Texas. Chao’s death, which was first announced by her family on Wednesday, is under investigation by the Blanco County Sheriff’s Department.
Early life and education
Chao was born in Syosset, New York and grew up in Harrison, New York. Her father was James S. C. Chao, who founded Foremost Group in 1964. Her mother was Ruth Mulan Chu Chao. She was the youngest of six sisters, one of whom is Elaine Chao, who served as Secretary of Transportation in the Trump administration and as Secretary of Labor in the administration of former President George W. Bush.
Her parents were born in 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.Chao went to Harvard for her undergraduate degree, which she completed in three years, graduating with a degree in economics in 1994. She went on to receive her MBA from Harvard Business School.
Career
Chao worked in mergers and acquisitions at Smith Barney, now a part of Morgan Stanley. She joined their family business Foremost Group in 1996, where she succeeded her father as CEO in 2018. As CEO, she became interested in adding more environmentally sustainable vessels that can burn alternative fuels to the company’s roster.
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. She was a member of the Council on Foreign Relations.
Personal life and death
Chao married Bruce Wasserstein in January 2009 and, following his death later that year, married Jim Breyer in 2012. A resident of Austin, Texas, her son with Breyer was three years old at the time of her death.
Chao held multiple positions with various charities and business groups, including:
- Member of the American Bureau of Shipping Council
- Member of Harvard Business School’s Board of Dean’s Advisors
- Advisory director at the Metropolitan Opera
- Member of the chairman’s Council of the Metropolitan Museum of Art
- Member of the Founding Board Council of the Museum of Contemporary Art, Los Angeles
- Member of the Boards of the Shanghai Mulan Education Foundation
conclusion
Angela Chao was a remarkable American businesswoman who achieved success in the dry bulk shipping industry and served in various political and philanthropic roles. She was the youngest of six sisters, one of whom is Elaine Chao, who served as Secretary of Transportation in the Trump administration and as Secretary of Labor in the administration of former President George W. Bush.
Her parents were born in 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.
She died in a tragic car accident on February 11, 2024, at the age of 50. She left behind a legacy of leadership, innovation, and generosity that will inspire many generations to come. She was a role model for anyone who loves business and wants to make a positive impact on the world.