Ross Perot

Ross Perot
Born	Henry Ross Perot (1930-06-27) 27 June 1930 Texarkana, Texas, U.S.
Died	9 July 2019(2019-07-09) (aged 89) Dallas, Texas, U.S.
Occupation(s)	Entrepreneur, political figure, philanthropist
Years active	1957–2019
Known for	Founder of Electronic Data Systems and Perot Systems; 1992 and 1996 U.S. presidential candidate

Henry Ross Perot (June 27, 1930 – July 9, 2019) was a prominent American entrepreneur, political figure, and philanthropist. He established and managed Electronic Data Systems as well as Perot Systems. Perot entered the presidential race as an independent candidate in the 1992 U.S. election and later represented the Reform Party in the 1996 U.S. election. Although he did not win any states, his campaigns are recognized as some of the most successful third-party efforts in American electoral history.

Originating from Texarkana, Texas, Perot began his career selling products for IBM following his service in the United States Navy. He launched Electronic Data Systems in 1962, a company specializing in data processing services. In 1984, General Motors purchased a majority stake for $2.4 billion. In 1988, he founded Perot Systems and also provided early funding to NeXT, a company created by Steve Jobs. Perot was deeply involved in advocating for Vietnam War POW/MIA issues, asserting that some American soldiers were left behind after the conflict. During George H. W. Bush’s administration, Perot voiced opposition to both the Gulf War and the North American Free Trade Agreement.

Perot declared his presidential candidacy in 1992 with an agenda centered on achieving a balanced federal budget, halting outsourcing of jobs, and encouraging electronic direct democracy. He temporarily withdrew from the race but rejoined after securing ballot access in every state, choosing Admiral James Stockdale as his vice-presidential candidate. Participating in the debates, Perot secured 18.9% of the popular vote—over 19.7 million ballots—drawing support predominantly from centrist voters across party lines. In 1996, running under the newly established Reform Party banner, he received 8.4% of the popular vote in a contest against President Clinton and Republican Bob Dole.

Following the 1996 campaign, Perot did not pursue further political office but endorsed Republican candidates such as George W. Bush in 2000 and Mitt Romney in both 2008 and 2012. In 2009, Dell acquired Perot Systems for $3.9 billion. According to Forbes, Perot was ranked as the 167th wealthiest individual in the United States in 2016. He passed away at age 89 from leukemia on July 9, 2019, in Dallas.

Early life, education, and military career

Ross Perot was born in Texarkana, Texas in 1930 to Lula May (née Ray) and Gabriel Ross Perot, who worked as a commodity broker dealing primarily with cotton contracts. He had an elder brother who died during early childhood. His paternal ancestry traces back to a French-Canadian immigrant who settled in Louisiana during the 1740s.

He attended a private school locally before graduating from Texas High School in Texarkana in 1947. His first employment involved delivering the Texarkana Gazette as a newspaper carrier. Perot achieved the rank of Eagle Scout in 1942 and later earned the Distinguished Eagle Scout Award. Among his childhood acquaintances was Hayes McClerkin, who would become Speaker of the Arkansas House of Representatives.

Between 1947 and 1949, Perot studied at Texarkana Junior College, then enrolled at the United States Naval Academy in 1949, where he played a role in founding its honor system. He credited his appointment to W. Lee "Pappy" O'Daniel, then governor and senator of Texas. From 1953 to 1957, he served as a junior officer aboard both destroyers and aircraft carriers. Observing government bureaucracy firsthand, he was struck by the Navy’s practice of issuing multiple pairs of shoes despite having previously owned only one pair at a time. He left active duty in the Naval Reserve with the rank of lieutenant in 1961. His father passed away when Perot was 25 years old.

In 1956, Perot married Margot Birmingham after meeting her on a blind date while docked in Baltimore.

Business

Following his departure from the Navy in 1957, Perot began a career at IBM as a salesman and rapidly distinguished himself as a leading performer. Growing dissatisfied with his ideas being overlooked, he left IBM in 1962 to establish Electronic Data Systems (EDS) in Dallas, Texas, focusing on providing data processing solutions to large enterprises. Despite facing 77 contract refusals, EDS managed to secure valuable US government contracts throughout the 1960s, including automating Medicare record systems. The company went public in 1968, and its stock price surged dramatically from $16 to $160 per share within days. That year, Fortune labeled Perot the "fastest, richest Texan." By December 1969, the market value of his EDS holdings briefly reached $1 billion.

In April 1970, EDS experienced a severe $445 million single-day stock decline amid a broader technology sector crash and economic downturn driven by recession and sociopolitical tensions. Vulnerable due to its lofty price-to-earnings ratio and lightly held shares, the company became a target for bear raids and institutional sell-offs. This event was part of an overall 80% drop in computer stocks since late 1968.

By 1984, General Motors acquired a majority stake in EDS for $2.4 billion. Perot sold his company to GM in 1985 but departed after losing his leadership position, subsequently founding Perot Systems. That same year, he was ranked as the second wealthiest American after Sam Moore Walton, with an estimated net worth of $1.8 billion.

Shortly before the 1979 Iranian Revolution, Perot orchestrated a daring rescue mission to free two detained EDS employees. The operation was led by retired Colonel Arthur D. Simons and later recounted in Ken Follett's On Wings of Eagles. This story was adapted into a television mini-series featuring Burt Lancaster and Richard Crenna.

In 1984, Perot's foundation acquired one of the few copies of the Magna Carta located outside the UK. It was exhibited at the National Archives alongside significant American documents until its sale in 2007 for $21.3 million to David Rubenstein of The Carlyle Group. The proceeds supported medical research, education initiatives, and veteran assistance programs.

Perot was an early backer of Steve Jobs' NeXT, investing over $20 million after missing earlier chances such as investing in Microsoft.

In 1988, he launched Perot Systems based in Plano, Texas. His son, Ross Perot Jr., eventually assumed the role of CEO. In September 2009, Dell purchased Perot Systems for $3.9 billion.

Early political activities

After visiting Laos in 1969 at the White House's request, Perot became deeply engaged with the Vietnam War POW/MIA issue. He held the conviction that numerous American soldiers were abandoned following U.S. withdrawal and accused the government of concealing a drug-smuggling operation financing covert actions in Laos. During the late 1980s, Perot conducted unauthorized back-channel negotiations with Vietnamese officials, which created tension with both Reagan and George H. W. Bush administrations. In 1990, he reached an agreement with Vietnam's Foreign Ministry to serve as its business representative should diplomatic relations be reestablished. Additionally, he initiated private inquiries targeting United States Department of Defense official Richard Armitage.

In Florida during 1990, retired financial planner Jack Gargan financed advertisements proclaiming "I'm mad as hell and I'm not going to take it anymore," criticizing Congress for pay raises amid stagnant wages. Gargan later founded "Throw the Hypocritical Rascals Out" (THRO), which received support from Perot.

Perot opposed President George H. W. Bush and U.S. involvement in the 1990–1991 Persian Gulf War, unsuccessfully lobbying Senators to reject the war resolution—a stance that contributed to his contemplation of a presidential campaign.

1992 presidential campaign

On February 20, 1992, Perot revealed during an appearance on Larry King Live that he planned to run as an independent candidate, provided his supporters succeeded in securing ballot access across all 50 states. His campaign agenda emphasized balancing the federal budget, instituting targeted gun control measures, halting the offshoring of jobs, and introducing electronic direct democracy through "electronic town halls." He rapidly gained traction in polls, competing closely with candidates from the two major parties.

In a March address, Perot condemned Congressional inertia, stressing the importance of action rather than mere talk. As the primary contests of the major parties wrapped up, he leveraged widespread populist discontent, resulting in a Time magazine cover story titled "Waiting for Perot." His backers formed the organization United We Stand America, and he brought on board campaign strategists Hamilton Jordan and Ed Rollins. Although his formal policy proposals arrived late and focused on deficit reduction—including proposals such as raising fuel taxes and trimming Social Security benefits—he led a Gallup poll in June with 39% support.

Nonetheless, internal disputes and falling poll numbers caused his campaign to stumble by July. Advisors voiced dissatisfaction over Perot’s hesitance to clarify his positions or delegate authority; Rollins resigned after the firing of advertising expert Hal Riney. Poll numbers declined to around 20%, and on July 16 Perot announced his withdrawal from the race, citing fears of an Electoral College deadlock and alleged threats directed at his family. This abrupt exit harmed his credibility and alienated many supporters.

By September, Perot had secured ballot access nationwide and re-entered the contest in October, investing roughly $12.3 million of his own money. He innovated by purchasing half-hour infomercial-style advertisements on major television networks, which drew audiences larger than many prime-time programs.

Although Perot held a 39% lead in June polls, his support shrank to between 7% and 9% before the presidential debates. His debate performances were generally viewed as effective, helping him achieve nearly 19% of the popular vote—the strongest showing by a third-party candidate since Theodore Roosevelt in 1912—yet he did not secure any Electoral College votes. Unlike other third-party contenders who won electoral votes by concentrating on specific states, Perot’s backing was widely dispersed geographically; he finished second in Maine and Utah and won pluralities in several counties.

Demographic data revealed that Perot attracted voters fairly evenly across ideological lines: 20% identified as liberals, 27% as conservatives, and 53% as moderates. Most of his supporters were middle class, with 57% earning between $15,000 and $49,000 annually. Exit polls suggested that his voters were split evenly between those who otherwise would have supported Bush or Clinton. Subsequent analyses indicate that his candidacy did not decisively alter the election’s outcome.

After the election, Perot qualified for federal campaign funding for 1996 and remained active in opposing the North American Free Trade Agreement (NAFTA), famously predicting a "giant sucking sound" as jobs would leave the United States for Mexico if NAFTA passed.

1996 presidential campaign

Perot sustained his political relevance throughout the mid-1990s by concentrating on the national debt and opposing the North American Free Trade Agreement (NAFTA), cautioning that U.S. manufacturing employment would shift to Mexico. On November 10, 1993, he appeared on Larry King Live to debate Vice President Al Gore, attracting an audience of 16 million. However, Perot's frequent interruptions during the exchange were widely ridiculed and perceived as detrimental to his political ambitions. Following this event, public approval for NAFTA rose significantly from 34% to 57%.

In 1995, Perot established the Reform Party, with a platform centered on fiscal conservatism and electoral reform. He earned the party’s nomination for the 1996 United States presidential election, selecting Pat Choate as his vice-presidential candidate. Due to varying ballot access regulations, Perot ran as an independent candidate in multiple states. He received 8% of the popular vote—less than his 1992 showing but still a notable achievement for a third-party contender in U.S. elections. Unlike his previous campaign, he reduced personal financial contributions and accepted outside funding. A significant factor in his diminished support was exclusion from the United States presidential debates, a decision influenced by both Democratic and Republican contenders. Law professor Jamie Raskin subsequently initiated legal action contesting this exclusion.

Subsequent endeavors

During the 2000 presidential race, Perot refrained from engaging in the Reform Party’s internal conflict between supporters of Pat Buchanan and John Hagelin. Displeased by the party’s fragmentation and his portrayal in the media, he largely remained quiet but endorsed George W. Bush on Larry King Live shortly before Election Day. Despite his earlier opposition to NAFTA, Perot did not publicly comment on expanded guest-worker visa programs; Buchanan supporters attributed this silence to Perot’s corporate interests involving foreign labor.

In 2005, Perot appeared before the Texas Legislature advocating for enhanced technology access for students, including provisions for laptops and electronic books, while also supporting local control over textbook procurement. He voiced frustration over slow progress regarding issues he had championed during his presidential bids.

By January 2008, Perot opposed Republican John McCain and endorsed Mitt Romney, announcing intentions to launch a website presenting updated economic analyses. His June 2008 blog posts addressed entitlement programs such as Medicare, Medicaid, Social Security, alongside concerns about the national debt and fiscal challenges. He reaffirmed his support for Romney in 2012 but refrained from endorsing any candidate in the 2016 election.

Political philosophy

Perot’s political ideology resisted conventional categorization, combining pragmatic approaches with populist themes and emphasizing economic policies like budget balancing to attract bipartisan appeal. He advocated for stronger gun control measures, including an assault weapons ban, and promoted increased funding for AIDS research. While initially cautious on gay rights during his 1992 campaign, by 1996 he expressed clear support.

He favored a universal national health care system akin to Medicare extended to all citizens. Perot was a staunch critic of NAFTA, arguing it advantaged corporations at the expense of American blue-collar workers and tax revenues; he famously described NAFTA as generating a "giant sucking sound" due to job losses.

Scholars debate Perot’s populist classification; he has been characterized variously as classical liberal, telepopulist, and a "third way" populist. Analysts highlight his focus on political reform and grassroots participation rather than traditional left-right divisions, with some parallels to left-wing populism. His views have been termed "populism of the centre," distinguishing them from typical left or right populist movements. Perot expressed strong opposition to Reaganomics, blaming what he called "the decade of greed" for America’s early 1990s crisis. Political analyst John Judis identified him with left and center-left populism that rejected neoliberal policies.

In foreign affairs, Perot opposed the Gulf War and criticized President Bush’s Iraq intervention, advocating an isolationist stance prioritizing domestic economic recovery instead. He accused Bush’s administration of enabling Saddam Hussein before Kuwait’s invasion and suggested that the war served Bush’s personal motives to demonstrate toughness, risking soldiers’ lives due to years of flawed policies.

Perot was a proponent of anti-lobbying efforts and political reforms such as implementing a presidential line-item veto to eliminate unnecessary spending; abolishing Political Action Committees (PACs) to reduce special interest influence; replacing the Gramm–Rudman–Hollings Balanced Budget Act with more stringent fiscal measures; banning exit polling during elections; and instituting a lobbying prohibition.

From 1992 onward, Perot supported pro-choice positions favoring federally funded abortion access for low-income women; by 2000, he maintained a cautiously pro-choice stance.

Economic policy

Perot championed the idea of increasing taxes on affluent individuals while simultaneously reducing government expenditures to lower the national debt. His proposals included raising the capital gains tax, offering tax incentives to emerging businesses, and limiting entitlement benefits and tax rebates for wealthy taxpayers. He also advocated for the elimination of governmental privileges such as the congressional air fleet, criticizing the special advantages afforded to lawmakers. Perot supported active government involvement in safeguarding employment and suggested establishing a national industrial ministry inspired by Japan's Ministry of International Trade and Industry to strategically direct investments toward "future-oriented industries." He highlighted the importance of federally funded research as a foundation for critical sectors like biogenetics.

Rejecting neoliberal economic principles, Perot was recognized for confronting Reagan-era policies, warning about an expanding divide between social classes fueled by trickle-down economics and manipulation of capital gains taxation.

In his 1993 publication Not For Sale at Any Price, Perot endorsed tax reductions aimed at small and medium-sized enterprises instead of large corporations. He also advocated for a balanced budget amendment requiring government spending to remain within revenue limits for 27 years straight. Perot attributed the U.S. trade deficit with Mexico and the decline in manufacturing jobs to NAFTA, making opposition to free trade a central theme during his 1992 and 1996 presidential bids. He argued that relocating jobs to countries with lower wages and weaker regulations damages American workers and industries.

For the 1992 campaign, Perot introduced a budget strategy centered on redistribution to achieve fiscal balance. Key elements involved increasing the highest income tax rate from 31% to 33%, eventually reaching 35%, taxing Social Security benefits for higher-income recipients, and imposing taxes on previously untaxed employer-sponsored health insurance to ensure fairness. The plan proposed doubling cigarette excise taxes and increasing gasoline taxes by fifty cents per gallon, coupled with support measures for workers impacted by fuel price hikes. Furthermore, Perot called for major reductions in military expenditures and advocated canceling the space station initiative, which he regarded as an unnecessary extravagance.

Personal life and death

Ross Perot and his spouse Margot (née Birmingham; born November 15, 1933), who graduated from Goucher College, were parents to five children, including Ross Jr., and grandparents to nineteen grandchildren.

Born into a Methodist family, Perot converted to Presbyterianism in the late 1960s and maintained active involvement at Highland Park Presbyterian Church.

Perot passed away due to leukemia in Dallas, Texas, on July 9, 2019, shortly after celebrating his 89th birthday. At the time of his death, his fortune was approximated at $4.1 billion ($ billion in ), placing him as the 167th wealthiest American according to Forbes. He was laid to rest at Sparkman-Hillcrest Memorial Park Cemetery; a memorial ceremony held at Highland Park United Methodist Church attracted around 1,300 attendees.

Honors and achievements

• Honored for the rescue of American personnel in Iran (1987)
• Recipient of the Golden Plate Award presented by the American Academy of Achievement (1970)
• Enshrined in the Hall of Great Westerners at the National Cowboy & Western Heritage Museum (1985)
• Awarded the Winston Churchill Award for contributions to aiding American POWs and the Iranian hostage rescue mission (1986)
• Presented with the Oak Cliff Lions Club Humanitarian Award (1980)
• Earned the S. Roger Horchow Award for Greatest Public Service by a Private Citizen from the Jefferson Awards (1986)
• Inducted into the Junior Achievement U.S. Business Hall of Fame (1988)
• Bestowed with an Honorary Green Beret title by the John F. Kennedy Special Warfare Center and School (2009)
• Named honorary chairman of the OSS Society in May 2009
• Recognized as a Distinguished Alumnus by the Texarkana Independent School District (2009)
• Honored with the Sylvanus Thayer Award from the United States Military Academy at West Point (2009)
• Received the Distinguished Leadership Award from the Command and General Staff College Foundation (2010)
• The H. Ross Perot Bridge in Texarkana was dedicated in his honor on his 80th birthday (2010)
• Awarded the William J. Donovan Award by the OSS Society as its 26th honoree (2010)
• Presented with the Boots on the Ground Award from the Army Heritage Center Foundation (2011)
• The dinosaur species Pachyrhinosaurus perotorum was named after the Perot family by the Perot Museum of Nature and Science (2011)

Further reading

• Berens, Charlyne. "Echoing the giant sucking sound: Ross Perot and media influence during NAFTA talks." Newspaper Research Journal 20.2 (1999): 90–103.
• DeFrank, Thomas M. and others. Quest for the Presidency, 1992. (Texas A&M University Press, 1994).
• Gold, Howard J. "Third-party voting patterns in presidential elections: An analysis of Perot, Anderson, and Wallace." Political Research Quarterly 48.4 (1995): 751–773.
• Gross, Ken. Ross Perot: The Man Behind the Myth (Random House, 2012).
• Holian, David B., Timothy B. Krebs, and Michael H. Walsh. "Constituency attitudes, Ross Perot, and voting behavior in the US House: The NAFTA case." Legislative Studies Quarterly (1997): 369–392.
• Jelen, Ted G., editor. Ross for boss: The Perot phenomenon and beyond (SUNY Press, 2001).
• Lacy, Dean, and Barry C. Burden. "Ross Perot’s impact on vote distribution and turnout in the 1992 US presidential election." American Journal of Political Science (1999): 233–255.
• Levin, Doron P. Irreconcilable Differences: Ross Perot Versus General Motors (New York: Plume, 1990).
• Mason, Todd. Perot. (Business One Irwin, 1990). An unauthorized biography by a longtime observer of Perot.
• Moore, Thomas. The GM System is Like a Blanket of Fog, Fortune, February 15, 1988.
• Owen, Diana, and Jack Dennis. "Anti‐party sentiment in the USA and backing for Ross Perot." European Journal of Political Research 29.3 (1996): 383–400.
• Posner, Gerald. Citizen Perot: His Life and Times (Random House, 1996).
• Post, Jerrold M. "Political psychology behind the Ross Perot phenomenon." in The Clinton Presidency (Routledge, 2019), pp.37–56.
• Rapoport, Ronald and Walter Stone. Three's a Crowd: The Dynamics of Third Parties, Ross Perot, and Republican Resurgence (University of Michigan Press, 2005).
• Simons, Herbert W. "Evaluating a policy proposal by its associations: The Gore‐Perot NAFTA debate." Quarterly Journal of Speech 82.3 (1996): 274–287.

Primary sources

• Clinton, Bill. My Life. (Vintage, 2005). .
• Perot, Ross. United We Stand: How We Can Take Back Our Country (1992) online.
• Schulte-Sasse, Linda. "Introducing Ross Perot: The Enduring Influence of Capraesque Populism." Cultural Critique 25 (1993): 91–119. online
• ; text of the book released by Perot in 1992 to announce his presidential campaign launch with accompanying charts. Hosted by his group United We Stand America, archived by The Internet Archive.

External links

• #57 Henry Ross Perot | Forbes
• • Booknotes interview about Perot and His People, January 16, 1994
  • "Ross Perot, Presidential Candidate" from C-SPAN’s series The Contenders
• Episode on the 1992 election from CNN's Race for the White House