Who Is Ross Perot? Age, Biography, and Wiki
Ross Perot was born on June 27, 1930, in Texarkana, Texas. He was a prominent American businessman, entrepreneur, and politician, who gained fame for founding Electronic Data Systems (EDS) and running as a third-party candidate in the 1992 and 1996 U.S. presidential elections. He passed away on July 9, 2019, at the age of 89. His legacy as a steadfast advocate for fiscal responsibility continues to resonate in American political discussions today. For more detailed information about his life, refer to his Wikipedia page.
| Occupation | Billionaire |
|---|---|
| Date of Birth | June 27, 1930 |
| Age | 89 Years |
| Birth Place | Texarkana, Texas, U.S. |
| Horoscope | Cancer |
| Country | U.S |
| Date of death | 9 July, 2019 |
| Died Place | Dallas, Texas, U.S. |
Popularity
Ross Perot's Popularity over time
Height, Weight & Measurements
While specific measurements related to Ross Perot's height and weight at the time of his death may not have been widely available, he was known to have had a robust stature during his years in the public limelight. His physical presence complemented his assertive personality, making him an impactful figure both in business and politics.
Family, Dating & Relationship Status
Ross Perot was married to Margaret (Margo) Rainey Perot. They tied the knot in 1956 and enjoyed a long and supportive relationship throughout their lives. The couple had five children together: Ross Jr., Katherine, Nancy, Carolyn, and the late Suzanne Perot. As a family-oriented individual, Ross often highlighted the importance of family values in both his personal and professional endeavors.
From 1947 to 1949, he attended Texarkana Junior College, then entered the United States Naval Academy in 1949 and helped establish its honor system. Perot claimed his appointment notice to the academy—sent by telegram—was sent by W. Lee "Pappy" O'Daniel, Texas's 34th governor and former senator.
Perot served as a junior officer on a destroyer, and later, an aircraft carrier from 1953 to 1957. Perot, who had only ever owned one pair of shoes at a time, was shocked to find that he was issued multiple pairs of shoes in the navy, which he would later point to as "possibly my first example of government waste".
Perot then went to the Naval Reserve, which he left on June 30, 1961, with the rank of lieutenant. His father died when Perot was 25 years old.
Net Worth and Salary
At the time of his passing in 2019, Ross Perot had an estimated net worth of around $4 billion. His wealth primarily stemmed from the success of his companies, particularly Electronic Data Systems (EDS), which he sold to General Motors in 1984. Additionally, he made significant investments in various sectors, continuing to grow his fortune as a businessman.
After he left the Navy in 1957, Perot became a salesman for IBM. He quickly became a top employee (one year, he fulfilled his annual sales quota in two weeks) and tried to pitch his ideas to supervisors, who largely ignored him.
He left IBM in 1962 to found Electronic Data Systems (EDS) in Dallas, Texas, and courted large corporations for his data processing services. Perot was denied bids for contracts 77 times before receiving his first contract. EDS received lucrative contracts from the US government in the 1960s, computerizing Medicare records.
EDS went public in 1968, and the stock price rose from $16 a share to $160 within days. Fortune called Perot the "fastest, richest Texan" in a 1968 cover story. In December 1969, his shares in EDS were briefly worth $1 billion.
Perot gained some press attention for being "the biggest individual loser ever on the New York Stock Exchange" when his EDS shares dropped $445 million ($ billion in today's money) in value in a single day in April 1970.
While EDS boasted strong earnings in 1970, its exceptionally high price-to-earnings ratio, reaching 118 times earnings at its initial public offering in 1968, made it a prime target for a bear raid.
The stock's vulnerability was compounded by the fact that a significant portion of the publicly traded shares were "weakly held" by fast-performance mutual funds prone to rapid selling at the first sign of trouble.
When the stock price began to decline on April 22nd, likely due to large-scale short selling, these institutional investors quickly unloaded their holdings, triggering a panic sell-off and a precipitous drop in the share price.
This dramatic single-day decline in EDS stock was part of a broader collapse in the technology sector during the second quarter of 1970. The average computer stock plummeted 80% from its peak in late 1968. University Computing, for instance, suffered a devastating 93% loss in value.
The overall market downturn, reflected in a 19% drop in the S&P 500 during that quarter, was further fueled by a recessionary environment, growing sociopolitical unrest related to the Vietnam War and events like the Kent State shootings, and a general loss of confidence in the market after a period of exuberant speculation.
Coincidentally, the EDS crash occurred on the first Earth Day, adding to the symbolic significance of the event.
Career, Business and Investments
Ross Perot's career began in the tech industry when he founded EDS in 1962, which provided computer services to businesses. His innovative approach to technology revolutionized the industry and paved the way for the rise of IT services. Beyond EDS, Perot's entrepreneurial spirit led him to invest in numerous companies, including a bid for a satellite television venture.
His political career included two presidential campaigns under the Reform Party banner, where he advocated for government reform and reduced national debt. He became a prominent figure in U.S. politics, primarily noted for bringing attention to crucial issues like the North American Free Trade Agreement (NAFTA).
Henry Ross Perot Sr. (June 27, 1930 – July 9, 2019) was an American businessman, politician, and philanthropist. He was the founder and chief executive officer of Electronic Data Systems and Perot Systems. He ran an independent campaign in the 1992 U.S. presidential election and a third-party campaign in the 1996 U.S.
presidential election as the nominee of the Reform Party, which was formed by grassroots supporters of Perot's 1992 campaign. Although he failed to carry a single state in either election, both campaigns were among the stronger presidential showings by a third party or independent candidate in U.S. history.
Social Network
Although Ross Perot passed away in 2019, his influence can still be felt on social media platforms. His legacy is often revisited in discussions about third-party politics, business innovation, and fiscal responsibility. Various social networks feature pages and tributes dedicated to his contributions, allowing fans and political enthusiasts to engage with Perot's influential ideas and values.
In 1992, Perot announced his intention to run for president and advocated a balanced budget, an end to the outsourcing of jobs, and the enactment of electronic direct democracy. A June 1992 Gallup poll showed Perot leading a three-way race against President Bush and presumptive Democratic nominee Bill Clinton.
Perot withdrew from the race in July, but re-entered the race in early October after he qualified for all 50 state ballots. He chose Admiral James Stockdale as his running mate and appeared in the 1992 debates with Bush and Clinton.
In the election, Perot did not win any electoral votes, but won over 19.7 million votes for an 18.9% share of the popular vote. He won support from across the ideological and partisan spectrum, but performed best among self-described moderates. Perot ran for president again in 1996, establishing the Reform Party as a vehicle for his campaign.
He won 8.4 percent of the popular vote against President Clinton and Republican nominee Bob Dole.
Education
Ross Perot attended Texarkana Junior College before transferring to the University of Texas at Austin, where he earned a Bachelor of Arts degree in Electrical Engineering. His education laid the groundwork for his future in technology and business, displaying his commitment to learning and innovation throughout his life.
In conclusion, Ross Perot remains a significant figure in American history due to his entrepreneurial achievements and public service. This retrospective reveals not only his successful business ventures but also his dedication to family and political reform, leaving a lasting impact on the fabric of American society.
In 1984, Perot's Perot Foundation bought a very early copy of Magna Carta, one of only a few to leave the United Kingdom. The foundation lent it to the National Archives in Washington, D.C., where it was displayed alongside the Declaration of Independence and the Constitution of the United States.
In 2007, the foundation sold it to David Rubenstein, managing director of The Carlyle Group for $21.3 million ($ million) to be used "for medical research, for improving public education and for assisting wounded soldiers and their families". It remains on display at the National Archives.
