What Was Angela Chao Net Worth?

Angela Chao was an American business executive who had a net worth of approximately $100 million at the time of her death in February 2024. She was best known as the Chair and CEO of Foremost Group, an international shipping and maritime transportation company founded by her father, James S. C. Chao.

Angela Chao came from one of the most prominent business families in the United States shipping industry and was closely connected to several high-profile political and business figures. Through her family, she was the sister of former U.S. Secretary of Labor Elaine Chao, and the sister-in-law of U.S. Senator Mitch McConnell. At the time of her death, she was married to billionaire venture capitalist Jim Breyer, founder of Breyer Capital.

Angela Chao Net Worth	$100 Million
Date of Birth	March 4, 1973
Place of Birth	Syosset, New York
Nationality	American

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Early Life

Angela Chao was born on March 4, 1973, in Syosset, New York, as the youngest of six daughters in the Chao family. Her parents, James and Ruth Chao, were immigrants from China who built a successful shipping empire after founding Foremost Group.

She grew up in Westchester County, New York, in a family deeply connected to global shipping and international trade. One of her sisters, Elaine Chao, later made history as the first Asian-American woman to serve in a U.S. presidential cabinet.

Angela Chao attended Harvard University, where she graduated magna cum laude in 1994 with a degree in economics. She later earned an MBA from Harvard Business School, preparing her for leadership in global business.

Career at Foremost Group

After beginning her career in mergers and acquisitions at Smith Barney, Angela Chao joined Foremost Group in 1996, working in the family-owned maritime shipping business.

Foremost Group operates internationally, chartering bulk carrier vessels to major global commodity and shipping clients, including Bunge, Cargill, Dreyfus, and NYK Line. The company has long been recognized for its strong operational performance and family-led leadership structure.

In 2018, Angela succeeded her father as Chair and CEO of Foremost Group. Under her leadership, the company expanded its focus on sustainability, introducing more fuel-efficient and environmentally advanced vessels designed to reduce emissions and improve global shipping efficiency.

She also led Foremost Group into environmental partnerships, including joining the North American Marine Environment Protection Association in 2020.

Other Business

Beyond Foremost Group, Angela Chao held several high-level international advisory and board positions. She served on the board of the Bank of China, was a vice chair of the Council of China’s Foreign Trade, and was a director at the China State Shipbuilding Corporation.

In the United States, she was a member of the Council on Foreign Relations, one of the country’s most influential foreign policy think tanks. She was also a founding member of The Asian American Foundation (TAAF), a nonprofit organization created to address anti-Asian hate, increase representation, and support AAPI communities across the United States.

Personal Life

Angela Chao was briefly married in 2009 to investment banker Bruce Wasserstein, who died the same year.

In 2012, she married venture capitalist Jim Breyer, founder and CEO of Breyer Capital. The couple had one son together and divided their time between Texas and other residences in the United States, including properties in Austin and Johnson City.

Death

Angela Chao died on February 11, 2024, at the age of 50 following a tragic car accident at her ranch in Johnson City, Texas.

According to reports, after attending a Lunar New Year gathering, she accidentally backed her Tesla Model X into a pond. The vehicle became submerged, and she was unable to escape before emergency responders arrived. She was pronounced dead shortly after being pulled from the water.

A later investigation indicated that alcohol may have been a contributing factor in the accident, and the incident also drew attention to concerns surrounding vehicle interface design and emergency egress in certain electric vehicles.