Ross Perot, Texas Billionaire And Philanthropist Who Ran For President Twice, Dies At 89
/ CBS Texas
DALLAS (CBSDFW.COM/AP) - H. Ross Perot, the billionaire and philanthropist from Texas who ran for president as a third-party candidate in two races in the 90s, has died at the age of 89.
A family spokesperson said in a statement Perot died early Tuesday morning at his home in Dallas and that he was surrounded by family.
"Mr. Perot was a true patriot and a dedicated humanitarian. He will be missed greatly," the statement read.
As a boy in Texarkana, Texas, Perot delivered newspapers from the back of a pony. He earned his billions in a more modern way, however — by building Electronic Data Systems Corp., which helped other companies manage their computer networks.
Former U.S. presidential candidate H. Ross Perot is sworn in prior to testifying before a California Senate committee July 11, 2002 in Sacramento, California. (credit: Justin Sullivan/Getty Images)
In North Texas, he was known for his commitment to organizations such as the North Texas Food Bank, the Perot Museum of Nature and Science and Salvation Army DFW.
Dallas Mayor Eric Johnson released a statement, where he praised Perot for his work in the city.
"We have lost a true Dallas icon. Ross Perot was a veteran, successful businessman, and philanthropist who spent his life working hard to make our city, state, and country better. He personified the American dream and will be sorely missed. Our thoughts and prayers are with his family during this difficult time."
Former President George W. Bush and his wife, Laura, offered their condolences to Perot's family and said "Texas and America have lost a strong patriot."
"Ross Perot epitomized the entrepreneurial spirit and the American creed. He gave selflessly of his time and resources to help others in our community, across our country, and around the world. He loved the U.S. military and supported our service members and veterans. Most importantly, he loved his dear wife, children, and grandchildren. Laura and I send our heartfelt condolences to the entire Perot family as they celebrate a full life."
Dallas Cowboys owner Jerry Jones released the following statement on Perot's passing:
"Our thoughts and support are with the entire Perot Family at this time. Ross was a wonderful American citizen who had as much pride in - and love for - this country as any person I have ever known. Whether it be community, philanthropy, family, patriotism or business, he excelled in every aspect of a beautiful American life. He was truly an original, and he will be greatly missed."
Yet the most famous event in his career didn't involve sales and earnings; he financed a private commando raid in 1979 to free two EDS employees who were being held in a prison in Iran. The tale was turned into a book and a movie.
Perot first became known to Americans outside of business circles by claiming that the U.S. government left behind hundreds of American soldiers who were missing or imprisoned at the end of the Vietnam War. Perot fanned the issue at home and discussed it privately with Vietnamese officials in the 1980s, angering the Reagan administration, which was formally negotiating with Vietnam's government.
Perot's wealth, fame and confident prescription for the nation's economic ills propelled his 1992 campaign against President George H.W. Bush and Democratic challenger Bill Clinton. Some Republicans blamed him for Bush's lost to Clinton as Perot garnered the largest percentage of votes for a third-party candidate since former President Theodore Roosevelt's 1912 bid.
During the campaign, Perot spent $63.5 million of his own money and bought up 30-minute television spots. He used charts and graphs to make his points, summarizing them with a line that became a national catchphrase: "It's just that simple."
H. Ross Perot. (credit: rossperot.com)
Perot's second campaign four years later was far less successful. He was shut out of presidential debates when organizers said he lacked sufficient support. He got just 8% of the vote, and the Reform Party that he founded and hoped to build into a national political force began to fall apart.
However, Perot's ideas on trade and deficit reduction remained part of the political landscape. He blamed both major parties for running up a huge federal budget deficit and letting American jobs to be sent to other countries. The movement of U.S. jobs to Mexico, he said, created a "giant sucking sound."
Perot continued to speak out about federal spending for many years. In 2008, he launched a website to highlight the nation's debt with a ticker that tracked the rising total, a blog and a chart presentation.
Henry Ross Perot was born in Texarkana on June 27, 1930. His father was a cotton broker; his mother a secretary. Perot said his family survived the Depression relatively well through hard work and by managing their money carefully.
Young Perot's first job was delivering papers in a poor, mostly black part of town from his pony, Miss Bee. Perot said when the newspaper tried to cut his commission, he complained to the publisher — and won. He said he learned to take problems straight to the top.
From Texarkana, Perot went to the U.S. Naval Academy even though he had never been on a ship or seen the ocean. After the Navy, Perot joined International Business Machines in 1955 and quickly became a top salesman. In his last year at IBM, he filled his sales quota for the year in January.
In 1962, with $1,000 from his wife, Margot, Perot founded Electronic Data Systems. Hardware accounted for about 80% of the computer business, Perot said, and IBM wasn't interested in the other 20%, including services.
Many of the early hires at EDS were former military men, and they had to abide by Perot's strict dress code — white shirts, ties, no beards or mustaches — and long work days. Many had crew cuts, like Perot.
The company's big break came in the mid-1960s when the federal government created Medicare and Medicaid, the health programs for seniors, the disabled and the poor. States needed help in running the programs, and EDS won contracts — starting in Texas — to handle the millions of claims.
EDS first sold stock to the public in 1968, and overnight, Perot was worth $350 million. His fortune doubled and tripled as the stock price rose steadily.
In 1984, he sold control of the company to General Motors Corp. for $2.5 billion and received $700 million in a buyout. In 2008, EDS was sold to Hewlett-Packard Co.
Perot went on to establish another computer-services company, Perot Systems Corp. He retired as CEO in 2000 and was succeeded by his son, Ross Perot Jr. In 2009, Dell Inc. bought Perot Systems.
In September 2011, Forbes magazine estimated Perot's wealth at $3.5 billion and ranked him No. 91 on its list of richest Americans.
Perot was not immune to mistakes in business. His biggest might have been a 1971 investment in duPont Glore Forgan, then one of the biggest brokerage houses on Wall Street. The administration of President Richard Nixon asked Perot to save the company to head off an investor panic, and he also poured money into another troubled brokerage, Walston & Co., but wound up losing much of his $100 million investment.
It was during the Nixon administration that Perot became involved in the issue of U.S. prisoners of war in Southeast Asia. Perot said Secretary of State Henry Kissinger asked him to lead a campaign to improve treatment of POWs held in North Vietnam. Perot chartered two jets to fly medical supplies and the wives of POWs to Southeast Asia. They were not allowed into North Vietnam, but the trip attracted enormous media attention.
After their release in 1973, some prisoners said conditions in the camps had improved after the failed missions.
In 1979, the Iranian government jailed two EDS executives and Perot vowed to win their release.
"Ross came to the prison one day and said, 'We're going to get you out,'" one of the men, Paul Chiapparone, told The Associated Press. "How many CEOs would do that today?"
Perot recruited retired U.S. Army Special Forces Col. Arthur "Bull" Simons to lead a commando raid on the prison. A few days later, the EDS executives walked free after the shah's regime fell and mobs stormed the prison. Simons' men sneaked the executives out of the country and into Turkey. The adventure was recalled in Ken Follett's best-selling book "On Wings of Eagles" and a TV miniseries.
In later years, Perot pushed the Veterans Affairs Department to study neurological causes of Gulf War syndrome, a mysterious illness reported by many soldiers who served in the 1991 Persian Gulf war. He scoffed at officials who blamed the illnesses on stress — "as if they are wimps" — and paid for additional research.
Perot received a special award from the VA for his support of veterans and the military in 2009.
In Texas, Perot led commissions on education reform and crime. He was given many honorary degrees and awards for business success and patriotism.
Gov. Greg Abbott released a statement where he remembered "one of the Lone Star State's greatest sons."
"Ross Perot exemplified what it means to be a Texan and an American. Born into extreme poverty, he rose up to become one our nation's most successful entrepreneurs and an exemplar of the American dream. More importantly, however, Ross Perot was a devoted husband, family man, and servant of God. His charitable work and his support of the United States Military and its veterans will forever be remembered. I ask that all Texans join Cecilia and me in remembering one of the Lone Star State's greatest sons and keep him and his family in their prayers."
While he worked at Perot Systems in suburban Dallas, entire hallways were filled with memorabilia from soldiers and POWs that Perot had helped. His personal office was dominated by large paintings of his wife and five children and bronze sculptures by Frederic Remington.
Several original Norman Rockwell paintings hung in the waiting area, and Perot once told a visiting reporter that he tried to live by Rockwell's ethics of hard, honest work and family.+
The CEO of the Perot Museum, Dr. Linda Silver, praised his work in helping children learn about STEM subjects through the Dallas museum.
"Mr. Perot enlivened the Museum with his generous and caring spirit and served as an example of kindness, compassion, and innovation. His legacy as leader, independent thinker, technological trailblazer and American patriot will endure and continue to serve as inspiration in fulfilling our mission," Dr. Silver said. "Our heartfelt thoughts are with the entire Perot family at this time.
Instead of flowers, the family said those who want to honor Perot should make contributions to any of the charities listed on a website the family created.
