Ex-Commerce secretary Robert A. Mosbacher dies
By The Post's Emma Brown:
Robert A. Mosbacher, a Texas oil mogul who served as a chief fundraiser for five Republican presidential campaigns and who as Commerce Secretary under President George H.W. Bush successfully promoted the North American Free Trade Agreement, died today of pancreatic cancer at The University of Texas M.D. Anderson Cancer Center in Houston. He was 82.
The son of Wall Street investor who pulled out of the market before the crash of 1929, Mr. Mosbacher spent his life amid opulence and privilege.
With $500,000 in seed money from his father, he started the Houston-based Mosbacher Energy Co. and built it into one of the largest private energy concerns in the country. By avoiding risky projects, the company managed to outlast the 1980s oilfield bust that put some larger corporations out of business, and Mr. Mosbacher amassed a personal fortune estimated at more than $200 million.
| January 24, 2010; 10:55 AM ET
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