Houston, Jan 24 (THAINDIAN NEWS) The former US Secretary of Commerce - Robert Adam Mosbacher, Sr. has died. The New York born Robert Adam Mosbacher was the US Secretary of Commerce for 3 years, from 1989 to 1992. He was also an US businessman and an accomplished yacht racer, to boot. KHOU-TV reported that Robert Mosbacher died on Sunday morning, but did not provide additional details about his death.

His parents were Emil Mosbacher and Gertrude Schwart Mosbacher. His father was a wealthy stock trader, and was a very foresighted person too, who cashed his holdings before the Wall Street crashed. So the family did not have any financial constraints while Robert was growing up.

Robert obtained a degree in business administration from the Washington & Lee University in 1947. He entered stepped into the oil business in Texas. He was successful in finding a million dollar field of natural gas, and so he founded the Mosbacher Energy Company. His company was a roaring success and hence the Mosbacher family became one of the wealthiest families of Houston.