Ross Perot

Henry Ross Perot was a prominent American businessman, politician, and philanthropist. He was a significant figure in the technology and political sectors of the late 20th century. Perot is perhaps best known for his independent presidential campaigns in the 1990s. He also founded major companies like Electronic Data Systems (EDS) and Perot Systems. His life involved massive financial successes and complex political challenges. He used his wealth to support various causes and investments.

Perot's career began with a foundation in the military and sales. He attended the United States Naval Academy after graduating from high school in 1947. From 1953 to 1957, he served as a junior officer on a destroyer and an aircraft carrier. He later joined the Naval Reserve, reaching the rank of lieutenant by 1961. After leaving the Navy, he worked as a salesman for IBM. He was an exceptionally successful salesman, often meeting his annual goals in just two weeks. This experience prepared him to launch his own business ventures.

In 1962, Perot founded Electronic Data Systems, known as EDS, in Dallas, Texas. EDS provided data processing services to large corporations and the government. The company faced early struggles, as Perot was denied 77 contract bids before winning his first one. However, EDS eventually became highly successful by computerizing records for Medicare. In 1968, the company went public, and its stock price rose rapidly. In 1984, General Motors purchased a controlling interest in EDS for $2.4 billion.

Perot's business life included both massive gains and sudden losses. In 1969, his shares in EDS were briefly worth $1 billion. However, in April 1970, he experienced a major stock market event. His EDS shares dropped $445 million in value in a single day. This happened during a broader collapse in the technology sector. At that time, many computer stocks lost most of their value. Despite this, Perot continued to build businesses. He founded Perot Systems in 1988, which Dell later acquired for $3.9 billion in 2009. He also acted as an angel investor for NeXT, a company founded by Steve Jobs.

Perot was a very active and sometimes controversial political figure. He became deeply involved in the Vietnam War POW/MIA issue. He argued that hundreds of American servicemen were left in Southeast Asia. He also strongly opposed the Gulf War and the North American Free Trade Agreement. In 1992, he ran for president as an independent candidate. He advocated for a balanced budget and electronic direct democracy. He even participated in televised debates against George H. W. Bush and Bill Clinton.

His 1992 campaign was one of the strongest for a third-party candidate in U.S. history. Although he did not win any states, he earned over 19.7 million votes. This represented 18.9% of the total popular vote. In 1996, he ran again as the nominee for the Reform Party. This party was formed by supporters of his earlier campaign. In that election, he won 8.4 percent of the popular vote.

Beyond business and politics, Perot was a dedicated philanthropist. The Perot Foundation bought an early copy of the Magna Carta. This historic document was lent to the National Archives for public display. He also used his wealth to support medical research and wounded soldiers. His life was marked by a desire to challenge existing systems. He died from leukemia in July 2019 at the age of 89. He left behind a complicated legacy in American industry and politics.