Ross Perot, a billionaire business magnate, philanthropist, and former presidential candidate, has died at the age of 89, a family representative confirmed to CNBC. Perot, who ran for president in 1992 and 1996 as an independent, passed away after a five-month battle with leukemia.
The self-made Texan died at his home in Dallas on Tuesday, his family said in a statement.
"In business and in life, Ross was a man of integrity and action," the statement read. "A true American patriot and a man of rare vision, principle and deep compassion, he touched the lives of countless people through his unwavering support of the military and veterans and through his charitable endeavors."
Perot was born in Texarkana, Texas and grew up during the Depression. Despite his early financial hardships, he later emerged as a tech entrepreneur and one of the nation's richest men after founding his computer services company Electronic Data Systems Corp in 1962. Decades later, he launched another lucrative venture—Perot Systems, which Dell purchased in 2009 for $3.9 billion.
Perot rose to national prominence when he ran for president as a third-party candidate in 1992, challenging George H.W. Bush and Bill Clinton. He successfully won nearly 20% of the vote, a startling imprint for a candidate not hailing from either of the two major parties, which welcomed comparisons to President Theodore Roosevelt's 1912 presidential bid. According to Politico, many Republicans blamed Perot for Bush's defeat.
His eccentricity and confidence are often cited as key elements in his illustrious career. In 1979, Perot personally funded a private commando raid in Iran to free two Electronic Data Systems employees who were imprisoned. The story was later turned into both a book and a movie. Additionally, his outspokenness with regard to U.S. policy in Vietnam in the aftermath of the Vietnam War caught the attention of the Reagan Administration and the general public. His selfless advocacy efforts surrounding veterans affairs also earned him a formal honor in 2009 from former Secretary of Veterans Affairs Dr. James B. Peake.
Perot is survived by his wife, his sister, five children, and grandchildren.
