Elaine Chao Quote
While conventional wisdom has traditionally sided against borrowing from retirement savings, sentiment has shifted toward borrowing from one's own assets with the realization that other forms of credit come at a much higher cost and often are not even available to borrowers with limited means and urgent needs.
Elaine Chao
While conventional wisdom has traditionally sided against borrowing from retirement savings, sentiment has shifted toward borrowing from one's own assets with the realization that other forms of credit come at a much higher cost and often are not even available to borrowers with limited means and urgent needs.
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About Elaine Chao
Born in Taipei, Taiwan to waishengren parents who fled China as a result of the Chinese Civil War, Chao immigrated to the United States when she was eight years old. Her father founded the Foremost Group, an American shipping company based in New York. Chao was raised in Queens, New York, and on Long Island, and received degrees from Mount Holyoke College and Harvard Business School. She worked for financial institutions before being appointed to senior positions in the Department of Transportation under Presidents Ronald Reagan and George H. W. Bush, including chair of the Federal Maritime Commission (1988–1989) and Deputy Secretary of Transportation (1989–1991). She served as director of the Peace Corps from 1991 to 1992 and as president of the United Way of America from 1993 to 1996.
Chao has served on several Fortune 500 and nonprofit boards of directors, including the electric charger network provider ChargePoint since 2021. She is married to U.S. senator Mitch McConnell.