102°F
weather icon Partly Cloudy

H. Ross Perot dies; Texas billionaire ran twice for president

Updated July 9, 2019 - 8:12 am

DALLAS — H. Ross Perot, the colorful, self-made Texas billionaire who rose from a childhood of Depression-era poverty and twice ran for president as a third-party candidate, has died. He was 89.

Perot, whose 19% of the vote in 1992 stands among the best showings by an independent candidate in the past century, died early Tuesday at his home in Dallas surrounded by his devoted family, family spokesman James Fuller said.

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.

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.

1992 campaign

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.”

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.

Big break

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.

U.S. POWs

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.

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.

Don't miss the big stories. Like us on Facebook.
Politics Videos
Trumps Strength is also a Weakness - Video
One of Donald Trump’s greatest strengths — his ability to shape national narratives — is also a great weakness.
Tax the Rich Bus Tour makes a stop in Las Vegas - Video
The Tax the Rich Bus has stopped in Las Vegas as part of its summer tour. (Las Vegas Review-Journal)
Assemblywoman Daniele Monroe-Moreno hosts BBQ - Video
Assembly Woman Daniele Monroe-Moreno hosts BBQ to bring the community together to hear about the candidates up for election and for people to gather and have fun.
Democrat Virtual Caucus - Video
The Right Take: Biden's Racially Questionable Comments
Joe Biden has uttered racially charged statements for years. Now that he’s the frontrunner for the Democrat presidential nomination, he may finally face prolonged scrutiny for them.
Christopher Rufo Discusses Homelessness In The USA - VIDEO
Christopher Rufo discusses homelessness in the United States and how politicians can work to improve conditions for those with drug addictions.
Clark County 2019 Election Results - Video
The 2019 Elections wrap up in Clark County including an upset in the Boulder City Mayor race.
Greene discusses Read by 3 and Opportunity Scholarships - VIDEO
The Nevada Legislative Session is over and the results are mixed for Nevada students, according to Tom Greene, Senior regional legislative director, Excel in Ed in Action.
The Right Take New Education Funding Plan - VIDEO
On Monday, Senate Education Committee chair Mo Denis, D-Las Vegas, released a new education funding formula. For years, many Democrat politicians have criticized the current education funding formula, called the Nevada Plan. They claim it’s old and outdated. Their biggest beef is that it doesn’t allocate more money for students who are English Language Learners or live in poverty. The theory is that it’s harder to educate those students and so they need additional services, which costs additional money.
Al Gore Speaks At UNLV About Climate Change - Video
Former Vice President of the United States Al Gore talks to an audience at UNLV about the effects of Climate change and how to switch to renewable sources of energy.
Forum on Wages and Working People Highlights - VIDEO
Presidential candidates Elizabeth Warren, Beto O'Rourke, Kamala Harris, Amy Klobuchar, Julian Castro, and John Hickenlooper speak in Las Vegas, Nevada.
Nevada Politics Today Valerie Weber - VIDEO
Valerie Weber sits down with Victor Joecks to discuss her policies and why she is running for Ward 2 of the Las Vegas City Council.
THE LATEST
Chris Kraft, NASA’s 1st flight director, dies at 95

Kraft died just two days after the 50th anniversary of what was his and NASA’s crowning achievement: Apollo 11’s moon landing.

Massive California freeway repairs likened to ‘Carmageddon’

A section of a major Los Angeles-area freeway will be undergoing repairs for 15 weekends over the next four months, sparking comparisons to “Carmageddon,” a 2011 freeway bridge demolition that many feared would be a traffic nightmare.

US hotels caught in clash over housing detained migrants

Advocacy groups and unions are pressuring Marriott, MGM and others not to house migrants who have been arrested by Immigration and Customs Enforcement officers.

 
Family will sue Royal Caribbean over toddler’s death, mom says

There are “a million things” the cruise company could have done to prevent the death of an 18-month-old Indiana girl who fell to her death from an open window on a cruise ship in Puerto Rico, the toddler’s mother said in an interview broadcast Monday.