This database was last updated in October 2019 and should only be used as a historical snapshot. There may be new information that is not included here.
Elaine L. Chao
Transportation (joined: Jan. 31, 2017)
Secretary of Transportation | Financial Disclosure »
Former Positions Outside Government
- Centerra Group, LLC Director
- Elaine L Chao Revocable Trust Trustee
- Firebird International LLC Sole Member (This is a single-member pass-through entity whose sole source of income is from my director fees and speaking fees, as separately disclosed herein.)
- Ford's Theatre At Large Member, Board of Trustee
- Hudson Institute Distinguished Fellow
- Ingersoll Rand Director
- News Corporation Director
- Protective Life Insurance Director
- The Bloomberg Family Foundation Inc Director
- The Heritage Foundation Distinguished Fellow
- Vulcan Materials Director
- Wells Fargo & Company Director
Former Compensation Sources
- Alliance for Public Awareness (through Worldwide Speakers Group) Honoraria - Speech
- Centerra Group, LLC Director
- Dole Corporation Director (Not on the Board of Directors in 2014, payments are related to 2013 services)
- Hudson Institute Distinguished Fellow
- Ingersoll Rand Director
- Iranian-American Cultural Association of Missouri Honoraria - Speech
- News Corporation Director
- North Caroline State University (through Worldwide Speakers Group) Honoraria - Speech
- Protective Life Insurance Director
- Real Estate Roundtable (through Worldwide Speakers Group) Honoraria - Speech
- The Bloomberg Family Foundation Director
- The Heritage Foundation Distinguished Fellow
- Vulcan Materials Director
- Wells Fargo & Company Director
- Women Freedom Forum (through Worldwide Speakers Group) Honoraria - Speech
Employment Assets
| Description | Value | Income |
|---|---|---|
| Protective Life Insurance | $5,160 | |
| The Heritage Foundation | $125,227 | |
| Firebird International LLC | ||
| News Corporation | $228,000 | |
| Wells Fargo & Company | $232,000 | |
| Centerra Group, LLC | $38,350 | |
| Ingersoll Rand | $212,316 | |
| Vulcan Materials | $165,000 | |
| Protective Life Insurance | $524,331 | |
| Firebird International LLC, SunTrust Business Checking | $1,001 - $15,000 | None (or less than $201) |
| Firebird International LLC, SunTrust Business Money Market Performance | $500,001 - $1,000,000 | $201 - $1,000 |
| Firebird International LLC, defined benefit plan - VFIAX - Vanguard 500 Index Adm | $1,000,001 - $5,000,000 | None (or less than $201) |
| Real Estate Roundtable (through Worldwide Speakers Group) - 1/27/2015 | None (or less than $1,001) | $25,000 |
| Alliance for Public Awareness (through Worldwide Speakers Group) - 6/13/2015 | None (or less than $1,001) | $50,000 |
| Iranian-American Cultural Association of Missouri (through Worldwide Speakers Group) - 3/9/2016 | None (or less than $1,001) | $17,500 |
| Vulcan Materials - Directors Fees Receivable 12/15/16 | $50,001 - $100,000 | None (or less than $201) |
| News Corporation, Unvested Deferred Stock Units | $500,001 - $1,000,000 | None (or less than $201) |
| Wells Fargo & Company, common stock | $1,001 - $15,000 | $201 - $1,000 |
| Wells Fargo & Company, Deferred Stock Compensation | $1,000,001 - $5,000,000 | None (or less than $201) |
| UBS Pension Trust (Personal Retirement Account) | ||
| UBS Brokerage Account (Cash) | None (or less than $1,001) | None (or less than $201) |
| WGIFX - American Funds Capital World Gr & Inc F2 | $15,001 - $50,000 | $201 - $1,000 |
| SDSCX - Dreyfus/The Boston Co Sm/Md Cp Gr I | $1,001 - $15,000 | $201 - $1,000 |
| FEGIX - First Eagle Gold I | $1,001 - $15,000 | None (or less than $201) |
| PEQPX - Principal Equity Income P | $15,001 - $50,000 | $201 - $1,000 |
| GFFFX - American Funds Growth Fund of Amer F2 | $15,001 - $50,000 | $1,001 - $2,500 |
| DPFFX - Delaware Diversified Income Instl | $15,001 - $50,000 | $201 - $1,000 |
| TGBAX - Templeton Global Bond Adv | $1,001 - $15,000 | None (or less than $201) |
| PGDPX - Principal Global Div Inc P | $1,001 - $15,000 | $201 - $1,000 |
| Mutual of America Tax Deferred Annuity | ||
| Deutsch VSI Capital Growth | $100,001 - $250,000 | $5,001 - $15,000 |
| UBS PSP (Personal Retirement Account) | ||
| UBS Brokerage Account (cash) | $1,001 - $15,000 | None (or less than $201) |
| GONCX - JHancock International Growth C | $1,001 - $15,000 | None (or less than $201) |
| JVLCX - JHancock Disciplined Value C | $15,001 - $50,000 | $1,001 - $2,500 |
| Hudson Institute | $47,614 | |
| The Heritage Foundation 403(b) | ||
| SWIXX - Schwab Retirement Advantage Money Fund | $100,001 - $250,000 | $201 - $1,000 |
| VFIAX - Vanguard 500 Index Admiral | $15,001 - $50,000 | None (or less than $201) |
| PREIX - T. Rowe Price Equity Index 500 | $100,001 - $250,000 | None (or less than $201) |
| The Heritage Foundation Retirement Plan (defined contribution plan) | ||
| SWIXX - Schwab Retirement AdvantageMoney Fund | None (or less than $1,001) | None (or less than $201) |
| ARTKX - Artisan International Value Investor | $1,001 - $15,000 | None (or less than $201) |
| BARAX - Baron Asset Retail | $1,001 - $15,000 | None (or less than $201) |
| FAIRX - Fairholme | $15,001 - $50,000 | None (or less than $201) |
| LSBDX - Loomis Sayles Bond Instl | $1,001 - $15,000 | None (or less than $201) |
| OAKMX - Oakmark I | $1,001 - $15,000 | None (or less than $201) |
| RSEIX - Royce Special Equity Instl | $1,001 - $15,000 | None (or less than $201) |
| SLASX - Selected American Shares S | $15,001 - $50,000 | None (or less than $201) |
| PRMSX - T.Rowe Price Emerging Markets Stock | $1,001 - $15,000 | None (or less than $201) |
| VGSLX - Vanguard REIT Index Adm | $1,001 - $15,000 | $201 - $1,000 |
| WIIBX - Westcore Plus Bond Institutional | $1,001 - $15,000 | None (or less than $201) |
| UBS IRA | ||
| WGIFX - American Funds Capital World Gr & Inc F2 (UBS) | $15,001 - $50,000 | $1,001 - $2,500 |
| FEGIX - First Eagle Gold I (UBS) | $1,001 - $15,000 | None (or less than $201) |
| PEQPX - Principal Equity Income P (UBS) | $50,001 - $100,000 | $1,001 - $2,500 |
| RSPYX - RS Partners Y (UBS) | $15,001 - $50,000 | $201 - $1,000 |
| GFFFX - American Funds Growth Fund of Amer F2 (UBS) | $50,001 - $100,000 | $2,501 - $5,000 |
| DPFFX - Delaware Diversified Income Instl (UBS) | $50,001 - $100,000 | $1,001 - $2,500 |
| TGBAX - Templeton Global Bond Adv (UBS) | $15,001 - $50,000 | $201 - $1,000 |
| Vulcan Materials, Deferred Stock Units | ||
| Vulcan Materials, Vested Deferred Stock Units | $100,001 - $250,000 | None (or less than $201) |
| Vulcan Materials, Unvested Deferred Stock Units | $100,001 - $250,000 | None (or less than $201) |
| Ingersoll-Rand, Retainer Stock Units | ||
| Ingersoll-Rand, Vested Retainer Stock Units | $100,001 - $250,000 | None (or less than $201) |
| Ingersoll-Rand, Unvested Retainer Stock Units | $100,001 - $250,000 | None (or less than $201) |
Other Income/Assets
| Description | Value | Income |
|---|---|---|
| VMMXX - Vanguard Money Market Reserves | None (or less than $1,001) | None (or less than $201) |
| VMSXX - Vanguard Tax-Exempt Money Market | $1,000,001 - $5,000,000 | $201 - $1,000 |
| VFIAX - Vanguard 500 Index Admiral | $1,000,001 - $5,000,000 | $15,001 - $50,000 |
| US Bank Money Market Account 1 (Cash) | $1,000,001 - $5,000,000 | $201 - $1,000 |
| Real Property with Carriage House Rental - Washington, DC | $1,000,001 - $5,000,000 | $15,001 - $50,000 |
| US Bank Account 1 (Cash) | $1,001 - $15,000 | None (or less than $201) |
| US Bank Account 2 (Cash) | $1,001 - $15,000 | None (or less than $201) |
| TRBCX - T. Rowe Price Blue Chip Growth | $100,001 - $250,000 | $5,001 - $15,000 |
| PRITX - T.Rowe Price International Stock Fd | $50,001 - $100,000 | $201 - $1,000 |
| RPMGX - T. Rowe Price Mid-Cap Growth | $250,001 - $500,000 | $15,001 - $50,000 |
| PRSCX - T. Rowe Price Science & Tech | $15,001 - $50,000 | $2,501 - $5,000 |
| OTCFX - T. Rowe Price Small - Cap Stock | $50,001 - $100,000 | $5,001 - $15,000 |
| VGIAX - Vanguard Growth & Income Adm | $250,001 - $500,000 | $15,001 - $50,000 |
| VMSXX - Vanguard Tax-Exempt Money Market | None (or less than $1,001) | None (or less than $201) |
| VFIAX - Vanguard 500 Index Admiral | $1,000,001 - $5,000,000 | $15,001 - $50,000 |
| MNNAX - Victory Munder Growth Opportunities A | $1,001 - $15,000 | $1,001 - $2,500 |
| Elaine L Chao Revocable Trust | ||
| Electron Global Fund (Subsequent to initially completing this report, I divested my interest in Electron Global Fund. The value category is now “None (or less than $1,001).”) | $1,000,001 - $5,000,000 | $50,001 - $100,000 |
| US Bank Account 3 (Cash) | $1,001 - $15,000 | None (or less than $201) |
| MNNAX - Victory Munder Multi-Cap A | $15,001 - $50,000 | None (or less than $201) |
| VHCAX - Vanguard Capital Opportunity Adm | $100,001 - $250,000 | None (or less than $201) |
| VSIAX - Vanguard Small Cap Value Index Admiral | $250,001 - $500,000 | None (or less than $201) |
| VFIAX - Vanguard 500 Index Admiral | $250,001 - $500,000 | None (or less than $201) |
| A. Mitchell McConnell, Jr. Revocable Trust | ||
| US Brokerage Money Market Account (Cash) | $15,001 - $50,000 | None (or less than $201) |
| Vanguard 529 College Savings Plan | ||
| Vanguard Aggressive Growth Portfolio (Age Based) | $15,001 - $50,000 | None (or less than $201) |
| Vanguard 529 College Savings Plan | ||
| Vanguard Aggressive Growth Portfolio (Age Based) | $1,001 - $15,000 | None (or less than $201) |
| Loan to 2014 Campaign Committee | None (or less than $1,001) | $5,001 - $15,000 |
Employment Agreements and Arrangements
| Employer or Party | City, State | Status and Terms | Date |
|---|---|---|---|
| News Corporation | New York, New York | Pursuant to the terms of the company’s Directors’ Deferred Stock Unit Plan, my unvested Deferred Stock Units will vest upon separation from service on the Board. At that time, I will receive a cash payout based on the closing price of the company’s Class A common stock on the date of termination. | Oct. 16, 2012 |
| Wells Fargo & Company | San Francisco, California | Pursuant to the terms of the company’s Directors Stock Compensation and Deferral Plan – Stock Award Deferrals, I will receive a cash payout for my deferred stock compensation (all of which is fully vested at the time of grant) based on various elections I have made each year that I have served on the Board. The cash payout will be determined based on the closing price of the company’s common stock at the time payment is made, and I will continue to receive deferred stock compensation equivalents, which track dividends on the company’s common stock until I receive the cash payout. If I resign my position on the board after December 31, 2016, the approximate portion of my deferred stock compensation to be paid out is as follows: July 2017 – 48%; March 2018 – 29%; March 2019 – 15%; March 2020 – 4%; and March 2021 – 4%. | June 16, 2011 |
| The Heritage Foundation 403(b) | Washington, District of Columbia | I will continue to participate in this defined contribution plan. The sponsor has not made any further contributions since my separation from the company. | June 16, 2016 |
| Firebird International LLC, Defined Benefit Plan | Louisville, Kentucky | I will continue to participate in this defined benefit plan. No further contributions will be made while in office. | May 16, 2009 |
| Delta Airlines | Atlanta, Georgia | As a former director of Northwest Airlines, which merged with Delta Airlines in 2009, I receive discounted travel on Delta Airlines. I have never been a director of Delta Airlines, and this benefit is taxable on such discounted airfare at rates established by the Internal Revenue Service. | Oct. 16, 2008 |
| The Heritage Foundation Retirement Plan | Washington, District of Columbia | I will continue to participate in this defined contribution plan. The sponsor has not made any further contributions since my separation from the company. | June 16, 2016 |
| Vulcan Materials (Subsequent to initially completing this report, the Compensation Committee waived the restriction on my unvested deferred stock units. All deferred stock units are currently vested.) | Birmingham, Alabama | Pursuant to the terms of the company’s Directors’ Deferred Stock Unit Plan, I will receive a cash payout for all of my vested deferred stock units in April of the year following the year of my separation from service. The cash payout will be determined based on the closing price of the company’s common stock at the time payment is made that April. Until the deferred stock units are redeemed, I will continue to receive deferred stock unit equivalents, which track dividends on the company’s common stock. As to any unvested deferred stock units, the company’s Directors’ Deferred Stock Unit Plan (as described in the Company’s most recent proxy statement) provides that “the Compensation Committee, subject to Board approval, may waive restrictions [i.e., grant 100% vesting] in the event the non-management director fails to remain a director for any reason other than retirement at the mandatory age, death or disability.” Approximately 57% of my deferred stock units are not vested at the date of this report. If the company does not grant such a waiver and vest the deferred stock units before I assume the duties of the position of Secretary, I will forfeit all deferred stock units that are unvested on the date of my resignation. | Feb. 15, 2015 |
| Ingersoll Rand | Dublin, Outside U.S. | Pursuant to the terms of the company’s Directors’ Retainer Stock Unit Plan, my unvested retainer stock units will vest upon separation from service on the Board, and I will receive a cash payout for all of my retainer stock units based on the closing price of the company’s common stock on the date of separation. | June 16, 2015 |
| Vulcan Materials | Birmingham, Alabama | Pursuant to Director's Compensation plan I will receive $55,000 on 12/15/2016. | Dec. 16, 2016 |
Spouse's Employment Assets
| Description | Value | Income Type | Income Amount |
|---|---|---|---|
| The Long Game: A Memoir - Penguin Random House LLC - Value not readily ascertainable | Book Advances | $145,000 | |
| Bank of America - IRA Cash Account (This is a single-member pass-through entity whose sole source of income is from my director fees and speaking fees, as separately disclosed herein.) | $15,001 - $50,000 | Interest | None (or less than $201) |
| SCPB - SPDR Barclays Short Term Corp Bd ETF (Pursuant to the terms of the company's Deferred Stock Unit Plan, unvested Deferred Stock Units will vest upon separation from service. See Part 3, item 1.) | $15,001 - $50,000 | None (or less than $201) | |
| VCSH - Vanguard Short-Term Corporate Bond ETF | $15,001 - $50,000 | None (or less than $201) | |
| IWM - iShares Russell 2000 | $15,001 - $50,000 | None (or less than $201) | |
| VO - Vanguard Mid-Cap ETF | $15,001 - $50,000 | $15,001 - $50,000 | |
| SPY - SPDR S&P 500 ETF | $50,001 - $100,000 | None (or less than $201) |
Do you know something about Elaine L. Chao? Send us an email at [email protected] or send a Signal message to 347-244-2134.
See more staffers at Transportation »