Risks and Returns: Creating Success in Business and Life

by Wilbur Ross

Lessons from A Wall Street Legend Turned Secretary of Commerce

Before being named President Trump’s Secretary of Commerce in 2017, Wilbur Ross had already earned a reputation as the “King of Bankruptcy” over his 55-year career on Wall Street. Often working on high-profile bankruptcies such as Pan Am and Texaco, Ross helped restructure more than $400 billion in assets, and was named among Bloomberg’s 50 most influential people in global finance. After coming to Washington, Ross faced equally tough challenges, yet survived in his post for all four years.

Risks and Creating Success in Business and Life explains how Ross got to the top and stayed there. Rising from humble beginnings in North Bergen, New Jersey, Ross applied simple principles with strict discipline—something readers can apply in their own quest for success. Ultimately, Ross’s strategies and dealmaking skills led to relationships with King Charles, Warren Buffett, Carl Icahn, the Rothschild family, Steve Wynn, Lakshmi Mittal, Mike Milken, and many other famous personalities. Ross also documents his experiences with President Trump in the Oval Office. 

Whether you’re interested in Ross’s experiences as a neighbor of John Lennon in the legendary Dakota apartment building, celebrating with Sir Richard Branson on his private island, or his tumultuous time in Washington, you will find Risks and Returns to be a candid reflection of a life lived at the pinnacle of Wall Street, New York, and Palm Beach society, and the Trump administration. Above all, anyone driven to find career success will learn from Ross’s life the strategies and mentality to achieve it. 
 

Genres: Biography

368 pages, Hardcover

Published September 10, 2024

Reviews

[Lisa Bowman · Rating 3 out of 5]

I enjoyed Ross’ writing when it focused on his personal history and philosophy. I enjoyed some of the stories about his professional life. Sometimes the accounts lagged because they were incredibly detailed regarding financial matters I do not understand. In the end, I am glad I picked up a copy of his book. The last sentences of the epilogue were the most important to me.

[Alex Angeline · Rating 3 out of 5]

I enjoyed the first part of this book but probably one of the more mundane biographies I've read. The highlight for me was the breakdown of his career and the deals he was involved in. His perspective on working in the first Trump administration and the challenges that came with it were particularly interesting as well. That said, he lost me about three-quarters of the way through when he started to meander into topics like his real estate purchases, why he lives in Palm Beach, and his art collection. My key takeaways were his perspectives on risk-taking, preparation, and discipline in pursuit of big goals—that resonates.

[Connor Mudrick · Rating 2 out of 5]

I decided to read because the Yale SOM library is named after Wilbur Ross. If you define success by net worth, then he had a successful career. He came across as self-centered and narcissistic in this book

[Sanford Chee]

CFA review
https://blogs.cfainstitute.org/invest...

[Amy Barone · Rating 4 out of 5]

Interesting and inspirational biography. The writing flowed well

[J B · Rating 5 out of 5]

Excellent and interesting book on a life well lived. I read this in 5 days and was intrigued throughout.