Billionaire investor Wilbur Ross is a leading contender to be President-elect Donald Trump's commerce secretary, an official familiar with the transition process told CNN. The commerce secretary, a cabinet-level position that requires Senate confirmation, typically serves as the government's chief business advocate. The commerce secretary is a liaison between companies and the White House. Like Trump, who famously called himself the "king of debt," Ross is not afraid to borrow money. Whoever is chosen as commerce secretary will likely continue many of the policies that Pritzker and the Obama administration held dear.

Source: CNN November 20, 2016 21:18 UTC