Angela Chao (Foremost Group CEO) Wiki, Biography, Husband, Net Worth, Age, Family, Career, and More
Angela Chao was a prominent businesswoman, philanthropist, and public figure who led the Foremost Group, a global shipping and trading company founded by her father. She was also the youngest sister of Elaine Chao, the former U.S. Secretary of Transportation and Labor.
Angela Chao passed away in a tragic car accident in February 2024, at the age of 50. Her death shocked and saddened many people who admired and respected her achievements, contributions, and personality. In this article, we will explore the remarkable life of Angela, from her early years to her career, family, and legacy.
Early Years and Education
Angela Chao was born in 1973 in the United States, as the youngest of six daughters of James S.C. Chao and Ruth Mulan Chu Chao. Her parents were immigrants from Taiwan who came to the U.S. in the 1950s and 1960s, respectively. They instilled in their children the values of hard work, education, and service to others.
Chao showed an aptitude for learning and leadership from a young age. She attended the Chapin School, an elite all-girls school in New York City, where she excelled academically and extracurricular. She was the president of the student council, the editor-in-chief of the school newspaper, and a member of various clubs and teams. She also volunteered at a local hospital and a homeless shelter.
Angela continued her education at Harvard University, where she graduated with honors in 1995 with a degree in economics. She was also active in campus life, serving as the president of the Harvard-Radcliffe Asian American Association, the co-chair of the Harvard-Radcliffe Chinese Students Association, and a member of the Harvard Crimson, the student newspaper. She also participated in the Harvard Model United Nations and the Harvard International Relations Council.
After graduating from Harvard, Angela joined the Foremost Group, the family business founded by her father in 1964. The company is a global leader in shipping and trading, operating a fleet of dry bulk carriers that transport commodities such as iron ore, coal, grain, and cement. Chao started as an analyst and worked her way up to become the vice president of operations and then the deputy chairperson.
In 2001, Angela returned to Harvard to pursue a master’s degree in business administration at the Harvard Business School. She graduated in 2003 and resumed her role at the Foremost Group. She also became involved in various professional and civic organizations, such as the American Bureau of Shipping, the China State Shipbuilding Corporation, the Council on Foreign Relations, the Metropolitan Museum of Art, and the Harvard Business School Board of Dean’s Advisors.
Angela Chao Wiki/Bio
| Name | Angela Chao |
| Birth Date | 1973 |
| Death Date | February 2024 |
| Cause of Death | Car Accident |
| Birth Place | United States |
| Spouse | Bruce Wasserstein (m. 2009–2009) Jim Breyer (m. 2012–2024) |
| Siblings | Elaine Chao May Chao Christine Chao Grace Chao Jeanette Chao |
| Education | Harvard University Harvard Business School |
| Occupation | Chair and CEO of Foremost Group |
| Net Worth | $1.4 billion |
| Nationality | American |
| Ethnicity | Chinese |
| Religion | Christian |
| Social Media Links | Youtube: @AngelaChao Website: angelachao.org LinkedIn: angela-chao-57848163 Twitter: AngelaAChao |
| Homepage | newsunzip.com |
Net Worth and Income Sources
Angela Chao’s net worth was estimated to be $1.4 billion, according to Forbes. She amassed this wealth through her successful career in the shipping and transportation industry. As the CEO of Foremost Group, she oversaw a company that had a vast fleet of modern vessels that carried cargo across the world’s oceans.
She also inherited a substantial fortune from her first husband, Bruce Wasserstein, a prominent investment banker and the former CEO of Lazard, who died of a brain hemorrhage in 2009. Angela Chao’s net worth made her one of the richest women in America and one of the most powerful women in business.
Controversies
Angela faced some controversies in her life, mostly related to her family and political connections. One of the most notable controversies involved her sister, Elaine Chao, who was accused of using her position as the Secretary of Transportation to benefit the Foremost Group and the Chao family.
A report by The New York Times in 2019 revealed that Elaine Chao had asked her staff to arrange meetings with Chinese officials for her father and Chao, who were seeking to expand their business in China. The report also claimed that Elaine Chao had appeared in at least a dozen interviews with her father, often alongside Angela, that were broadcast by Chinese state media and used to promote the Foremost Group.
These actions raised ethical concerns and allegations of conflict of interest, nepotism, and favoritism. Elaine Chao denied any wrongdoing and said that she was proud of her family and their achievements.
Another controversy that Angela Chao faced was related to her second husband, Jim Breyer, a venture capitalist and the founder and CEO of Breyer Capital. Breyer was accused of having ties to the Chinese Communist Party and being involved in a scheme to steal American technology and intellectual property. A report by The National Pulse in 2020 alleged that Breyer had invested in several Chinese companies that were linked to the Chinese military, intelligence, and surveillance sectors, such as Baidu, Tencent, and Megvii.
The report also claimed that Breyer had partnered with IDG Capital, a Chinese investment firm that was founded by a former Chinese military officer and had close connections to the Chinese government and the Chinese Communist Party. Breyer denied any wrongdoing and said that he was a patriotic American who had always complied with the law and respected human rights.
Physical Stats
| Height (approx.) | In Feet Inches: 5′ 6″. In Meters: 1.67 m. |
| Weight (approx.) | In Kilograms: 50-55 kg. |
| Hair Color | Black. |
| Eye Color | Dark Brown. |
Career and Achievements
Angela Chao became the chair and CEO of the Foremost Group in 2018, succeeding her father, who retired at the age of 91. She led the company with vision, innovation, and integrity, expanding its global presence and reputation. She also championed the values of environmental sustainability, social responsibility, and diversity and inclusion in the shipping industry.
Angela was widely recognized and respected for her leadership and expertise in the maritime sector. She received numerous awards and honors, such as the Connecticut Maritime Association’s Commodore Award, the International Women’s Forum’s Women Who Make a Difference Award, the China Institute’s Blue Cloud Award, and the Lloyd’s List Asia Pacific Awards’ Lifetime Achievement Award. She was also named one of the 50 Most Influential People in Shipping by Lloyd’s List, one of the Top 100 Most Influential People in Shipping by TradeWinds, and one of the 100 Most Powerful Women in Business by Forbes.
Angela was not only a successful businesswoman, but also a generous philanthropist and a passionate advocate for education, culture, and women’s empowerment. She supported various causes and organizations, such as the Ruth Mulan Chu Chao Foundation, the Mulan Foundation Network, the Chao Family Foundation, the Harvard University Asia Center, the Harvard Kennedy School, the Harvard Business School, the Metropolitan Museum of Art, the Asia Society, the China Institute, the International Women’s Forum, and the World Economic Forum. She also mentored and inspired many young women and aspiring leaders, sharing her insights and experiences.
Husband & Kids
Angela Chao was married twice in her life. Her first husband was Bruce Wasserstein, a prominent investment banker and the former CEO of Lazard. They married in 2009, but their marriage was short-lived, as Wasserstein died of a brain hemorrhage later that year. Angela inherited a substantial fortune from Wasserstein, estimated at $2.2 billion by Forbes.
Angela Chao remarried in 2012 to Jim Breyer, a venture capitalist and the founder and CEO of Breyer Capital. They had a happy and supportive marriage and shared a love for art, culture, and philanthropy. They also had a blended family, as Breyer had three children from his previous marriage.
Family, Parents & Siblings
Angela was very close to her parents and her five sisters, who were all accomplished and influential in their fields. Her eldest sister, Elaine Chao, was the first Asian American woman to serve in the U.S. Cabinet, as the Secretary of Transportation under President Donald Trump and the Secretary of Labor under President George W. Bush.
Her other sisters were May Chao, a physician and professor at Harvard Medical School; Christine Chao, a lawyer and partner at a law firm; Grace Chao, a banker and executive at a financial services company; and Jeanette Chao, a pilot and aviation consultant.
Angela was a devout Christian, who credited her faith for giving her strength and guidance. She was a member of the Park Avenue Christian Church in New York City, where she served as an elder and a trustee. She also enjoyed reading, traveling, skiing, golfing, and spending time with her family and friends.
Death Cause
Chao’s life was cut short by a tragic car accident in February 2024, when she was driving to her home in Greenwich, Connecticut. She was pronounced dead at the scene, leaving behind her husband, her stepchildren, her parents, her sisters, and countless admirers and colleagues. Her funeral was held at the Park Avenue Christian Church, where she was eulogized by her family, friends, and associates. She was buried at the Woodlawn Cemetery in the Bronx, New York.
Angela Chao’s legacy lives on through her remarkable achievements, contributions, and personality. She was a trailblazer, a leader, a mentor, a philanthropist, and a role model for many people, especially women and Asian Americans. She was also a loving and loyal daughter, sister, wife, and friend, who touched many lives with her kindness, generosity, and warmth. She will be remembered and missed by many, but her spirit and vision will continue to inspire and motivate others to follow her example.
