Mitt Romney Net Worth : $250 Million
An American Businessman, Management Consultant and 70th Governor Of Massachusetts
Mitt Romney Annual Income
Source of Wealth
Years of Experience
Date of Birth
March 12, 1947
Graduated from Brigham Young University, MBA from Harvard Business School
Mitt Romney’s Income & Total Net Worth
Mitt Romney’s net worth, till 2012, makes him one of the richest political leaders in the United States and by far, the richest 2012 Presidential candidate. Mitt Romney started his career as a consultant with the Boston based Bain & Company. In order to establish an offshoot private equity firm ‘Bain Capital’, he left Bain & Company. Bain Capital made money through leveraged buyouts.
In 25 years, by the time Romney left Bain Capital, they had over $4 billion under management and Romney himself had pocketed $250 million in personal riches. On January 24, 2012, tax records for the years 2010 and 2011 were issued by Mitt. In those revelations, Romney disclosed that he acquired $42.7 during those 2 years and paid $6.2 million in taxes. More specifically, he earned $21.7 million in 2010 and paid $3 million in government taxes. $21 million was earned by him in 2011 and paid $3.2 million in taxes.
Mitt worked as the Chairman of the 2002 Salt Lake City Olympic Games Committee. In 2010, Romney earned approximately $9.3 million through pensions, investments, speaking engagements, and other holdings. He made total donation of $5.9 million, out of which $4.3 million was donated to the Mormon Church.
Mitt Romney focused primarily on venture capital for his investment. For investment, he chose those companies, which were trying to expand. But, by 90’s, Romney and his partners began to look for less risky ventures, by buying and selling the existing business, rather than creating a new one. Apart from this, Romney also has stake holding in various Chinese ventures, like China Life Insurance, Industrial and Commercial Bank of China, New Oriental Education and Technology, and many more.
Properties: Private Fortune
He owns the most opulent cars of the world, including Chevrolet Silverado & Cadillac Escalade. For transporting his cars to the basement garage, he has recently ordered Phantom Park car elevator, worth $55,000.
His is the owner of several luxury homes, like Utah Ski Lodge, two villas in New Hampshire and two dwellings in Boston. He also possesses personal jets. Reportedly, till now, he has spent a million dollars to travel in them.
Mitt Romney’s Career
Romney was born in Michigan, and his career started soon after he completed graduation, in 1975. At that time, he entered into BCG Group as a Management Consultant, and in 1977, he held the same position at Bain & Company. Subsequently, serving as its Head Executive Agent, he assisted to bring the business out of financial crisis. In 1978, he became the Vice-President of Bain and Company. In 1984, he co-founded Bain Capital. He earned approximately $190 – $250 million from this enterprise.