President-elect Donald TrumpDonald John TrumpSenate advances public lands bill in late-night vote Warren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases Esper orders ‘After Action Review’ of National Guard’s role in protests MORE is expected to name billionaire Wilbur Ross Jr. to serve as his Commerce secretary, according to multiple reports.
The pick could be announced as early as Wednesday, a transition official told NBC News.
Ross, who is considered to be one of Trump’s early supporters, is the chairman and chief strategist of private equity firm W.L. Ross & Co.
He has made his wealth by buying and restructuring companies within the manufacturing and steel industries.
Trump met with Ross last weekend, and the president-elect appeared to hint at his position following the meeting.
“Commerce Secretary, that’s what we’re looking for,” Trump told reporters as he indicated Ross.
Ross has been a close adviser for the president-elect in recent days as he puts together his administration, according to CNBC.
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