Ross Perot: The Life of a Presidential Candidate

The Life Story of Henry Ross Perot

Ross Perot learned the art of selling and negotiation from a young age. His philosophy in business was to buy low, sell high, and only procure enough stock for the day. Perot considered these lessons to be his Ph.D. in business. He carried them in every entity he started.

Born from humble beginnings, Ross Perot grew up during the Great Depression. Although his family was financially better off than most, he still had to work for what he wanted.

Working throughout his childhood taught him a valuable life lesson: you can get what you want if you are willing to work for it.

Birth and Childhood

Henry Ross Perot came to the world on June 27, 1930, in Texarkana, Texas. His father, Gabriel Ross Perot, ran a cotton brokerage business, while his mother, Lulu May, worked as a secretary in a lumber company.

Perot obtained most of his business skills from his father, who taught him how to sell, negotiate, and budget.

As a child, Perot accompanied his father to cattle auctions, among other business trips, where he learned salesmanship.

He became a day trader, buying saddles in the morning, adding a markup to the cost, and selling them by evening. He later worked as a paperboy for the Texarkana Gazette.

Education

Ross Perot attended Patty Hill, a private school in Texarkana. He then attended Texas High School, where he involved himself in multiple clubs and activities.

He was active in the Boy Scouts of America in 1941 and became an Eagle Scout in 1942. Perot also received the Distinguished Eagle Scout Award.

Perot graduated from high school and enrolled at Texarkana Junior College in 1947 but left to join the United States Naval Academy in 1949.

He joined the naval academy in Annapolis, Maryland, where he became class president in his junior and senior years. Perot met Margot, his wife, during his years in service. The two tied the knot in 1956 and had five children.

“A weak currency is the sign of a weak economy, and a weak economy leads to a weak nation.” – Ross Perot

Early Career

Ross Perot left the U.S. Navy in 1957 and immediately got a sales job with IBM. He relocated his family to Dallas, Texas, where IBM posted him. Perot worked at IBM while serving in the Naval Reserves for another five years. He continued supporting the U.S. Navy all his life.

Going Into Business

In 1962, Perot decided to strike out on his own, forming Electronic Data Systems (EDS). He established this company to offer data processing services and systems to businesses. Although he began it alone, he grew it into a thriving business and became a millionaire in 1968 after taking EDS public.

Perot endured 77 rejections in his first year before finally securing his first contract. After that, more came pouring in, especially from the United States government.

Perot’s business continued to grow, ultimately making him a billionaire. In 1984, General Motors purchased the majority ownership of EDS for $2.5 billion.

Perot acquired cash and GM shares from the 1984 purchase but didn’t get along well with his new business associates.

Two years later, Perot sold back his GM shares. In 1988, he launched a new information technology venture, Perot Systems. Perot was also one of the early investors in NeXT, founded by Steve Jobs after he left Apple. Dell Computers purchased Perot Systems for $3.9 billion in 2009.

“If you see a snake, just kill it – don’t appoint a committee on snakes.” – Ross Perot

Other Achievements

Besides his business engagements, Perot was very vocal in political matters. He became actively involved in politics in 1992, vying for the presidential candidacy on an independent ticket against Bush and Clinton.

Perot showcased himself as an outsider in the political arena. He published a book, United We Stand: How We Can Take Back Our Country, citing his proposals for rebuilding America. However, Perot lost the candidacy to Bill Clinton, becoming the first independent candidate to garner almost 19% of the popular vote.

Perot vied again in 1996, only this time he ran through the Reform Party, which he formed in 1995.

Perot published his autobiography, Ross Perot: My Life & The Principles for Success, this same year. However, he lost his candidacy to Bill Clinton. Ross Perot kept being involved in politics, but behind the scenes, supporting other candidates in their races.

“In plain Texas talk, it’s ‘do the right thing'” – Ross Perot

Personal Life

Henry Ross Perot married Margot Birmingham in 1956, with whom he had five children. Perot was a collector of historical artifacts and was known for his philanthropy, particularly in education, healthcare, sports, and community initiatives through the Perot Foundation.

Death

Ross Perot died on July 9, 2019, at 89, after a long battle with leukemia. He was buried at the Sparkman-Hillcrest Memorial Park Cemetery in Dallas, Texas.

Closing Thoughts

Throughout his life, Ross Perot showed himself to be a great leader in business and politics.

His ability to transform a small company into a multibillion-dollar corporation is a testament to his tenacity, courage, and entrepreneurial spirit.

Perot was an independent thinker, willing to speak his mind to address the countries’ more pressing political issues.

His story reminds entrepreneurs and political aspirants of the power of hard work, determination, and perseverance in achieving their dreams.

“Life is like a cobweb, not an organization chart.”- Ross Perot

Ross Perot Timeline

1930:

Ross Perot is born in Texarkana, Texas.

1947:

Perot graduates from high school and joins Texarkana College.

1949:

Perot joins the U.S. Naval Academy as a midshipman.

1953:

Perot graduates from the U.S. Naval Academy and ships out on the destroyer USS Sigourney as a junior officer.

1956:

Perot marries his wife, Margot Birmingham.

1957:

Perot leaves the Navy and starts a sales job with IBM in Dallas.

1962:

Perot founds Electronic Data Systems (EDS), providing data processing services to businesses and governments.

1968:

EDS becomes a publicly traded company.

1974:

Perot receives Defense Department’s Medal for Distinguished Public Service in recognition of his work to improve the treatment of American prisoners of war.

1979:

Perot heads Republican governor Bill Clements’ anti-drug policy committee.

1983:

Perot heads Democratic governor Mark White’s education advisory committee.

1984:

Perot sells EDS to General Motors (GM) for $2.5 billion but remains CEO.

1986:

Perot resigns from GM’s board of directors and receives the Winston Churchill Award.

1988:

Perot, along with his son Ross Jr. and other associates, founds Perot Systems Corp, which provides information technology services.

1992:

Perot runs for president as an independent candidate, winning 18.9% of the popular vote.

1993:

Perot forms United We Stand, an educational and research group to study domestic problems and press for economic and government reform.

1996:

Perot runs for president again, this time as the candidate of the Reform Party, winning 8.4% of the popular vote.

1999:

Perot Systems becomes a publicly traded company.

2009:

Perot Systems gets acquired by Dell Inc. for $3.9 billion.

2019:

Ross Perot passes away at the age of 89.

“Failures are like skinned knees, painful but superficial.” – Ross Perot

6 Facts Related to Ross Perot

1. Growing up during the Great Depression, Ross Perot worked odd jobs such as delivering newspapers and selling Christmas cards, garden seeds, and magazines.

2. Perot launched Electronic Data Systems Corp., a Dallas data processing company, with a $1,000 loan from his wife.

3. Fortune magazine called Perot the “fastest, richest Texan” and put him on its cover when EDS became a publicly traded company in 1968.

4. After Perot sold EDS to General Motors Co. for $2.5 billion and stock in December 1986, he resigned from GM’s board and sold his shares to receive more than $700 million.

5. Despite receiving one of the highest percentages for an independent candidate in a presidential election (18.9%), Ross Perot ended up third behind Bill Clinton and incumbent George H.W. Bush.

6. British Prince Charles and former U.S. first lady Nancy Reagan once presented Perot with the Winston Churchill Award.

Lessons We Can Learn From Ross Perot

Ross Perot is well known for running as an independent candidate for President of the United States. We can learn many lessons from him, and the lesson for this post is based on his following quote.

“Spend a lot of time talking to customers face to face. You’d be amazed how many companies don’t listen to their customers.”

A company’s biggest asset is its customers. Without them, there would be no business. They are a company’s most valuable asset.

Successful business leaders have built strong relationships with their customers and tailored their products and services to meet their needs.

Using today’s technology, you can improve your business by listening closely to your consumers.

It’s important not to ignore concerns and comments. Instead, act on each as if this was your only customer. Naturally, some issues will not be credible, but at the same time, look and listen.

It would be best to look at complaints from the customer’s perspective rather than your own. Don’t defend yourself. Instead, ask questions like the following to gain a deeper understanding.

Is this a credible complaint?
If so, what is the root of the problem?
What can we do to eliminate the problem?
What can we do to ensure it won’t happen again?
What are some ideas we can use to improve in this area?

Customer complaints can be resolved by asking them what they want. Many times, customers want to be heard. Other times, they want something else. So it would be best if you asked what they want. Don’t be afraid to ask this question because you may think they’ll ask for something you can’t provide.

If a customer asks for something you can’t provide, you can reply with the following. I’m sorry I can’t do that. However, I can offer you the following.

Another point about listening to customers doesn’t have to do with complaints.

Speaking with customers face to face can provide a lot of insight and open doors to new opportunities. For example, they might want a product or service to be available. So speaking with customers in person is best.

Another way is to host customer appreciation events. And during the event, speak with as many people as possible to determine how satisfied they are, what improvements you can make, and ideas for products and services they want to see.

You can use other methods to reach out to customers using surveys, allowing you to reach many of them.

You want to create your survey with a specific goal. Make sure it’s simple and can be filled in without wasting time. Otherwise, the participation rate will drop.

Once you have your survey results, you will want to take action, or it’s no use to create a survey without planning to act on it.

There are many ways to speak with your customers. Why not make it a habit so you can stay in touch and have access to a wealth of information you can’t get anywhere else?

Frequently Asked Questions

1. How much is Ross Perot’s net worth?

At his death in 2019, Forbes estimated Ross Perot’s net worth to be around $4.1 billion.

2. Who is Ross Perot, and why is he significant?

Ross Perot is significant for his successful business career in the computer services industry as the founder of Electronic Data Systems and his two independent presidential campaigns in 1992 and 1996.

3. Who was Ross Perot’s running mate?

In the 1992 presidential election, Ross Perot chose Admiral James Stockdale, a retired United States Navy vice admiral, as his running mate. In the 1996 election, his running mate was Pat Choate, an economist and political author.

4. Who is the wealthiest president ever?

The wealthiest president in United States history is Donald Trump.

5. What was the ideology of Ross Perot?

Ross Perot’s ideology was his belief in “the American Dream.” He established the Reform Party, whose platform called for campaign reform, overhauling the healthcare and income tax systems, balancing the federal budget, and other fairness aspects of existing fiscal policy.

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