Henry Ross Perot, best known for his run as an independent candidate in the 1992 presidential campaign, died Tuesday at his home in Dallas, NBC 5 has confirmed. He was 89 years old.
The Texas businessman was born in Texarkana in 1930 and graduated from Texas High School in 1947. After high school, Perot attended Texarkana Junior College and then entered the U.S. Naval Academy in 1949.
After Perot left the Navy in 1957, he went to work for IBM as a salesman. Then in 1962 he left IBM and founded Electronic Data Systems (EDS) in Dallas. EDS went public in 1968 and the stock price rose from $16 a share to $160 a share within a few days.
Perot was featured on the 1968 cover of Fortune Magazine as the "fastest, richest Texan."
General Motors would later buy a controlling interest in EDS for $2.4 billion.
In 1988, Perot founded Perot Systems Corporation, Inc. in the Dallas suburb of Plano. His son, Ross Perot Jr., succeeded him as CEO and in 2009 Perot Systems was eventually acquired by Round Rock-based computer technology company Dell for $3.9 billion.
It was in 1992 that Perot announced his intention to run as an independent for President of the United States. He spent $12.3 million of his own money to finance his run.