Mitt Romney Net Worth

How much is Mitt Romney Worth?

Random Celebrity
Mitt Romney Net Worth
Net Worth:
$250 Million
Date of Birth
March 12, 1947
Place of Birth
Detroit
Profession
Businessperson, Politician, Management consulting

Mitt Romney net worth: Mitt Romney is an American businessman and politician who has a net worth of $250 million. Mitt Romney is the former Governor of Massachusetts, a former Mormon missionary and and the Republican Presidential nominee in the 2012 campaign. Mitt Romney's net worth makes him one of the richest politicians in the United States and by far the richest 2012 Presidential candidate. Mitt Romney began his career as a consultant with the Boston based Bain & Company. He eventually left Bain & Company to form an offshoot private equity firm called Bain Capital. Bain Capital made a fortune through leveraged buyouts which is when a firm issues large amounts of debt in order to take over another corporation. The new owners in theory are able to run the company more efficiently and increase the value of the corporation to an amount that exceeds the original debt that was issued to buy it. Then the company is sold, the debt is paid off and the people behind the leveraged buyout keep whatever profits are leftover.

Mitt Romney Net Worth: Where it Comes From:
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 wealth. On January 24, 2012 Mitt released his tax records for the years 2010 and 2011. In those disclosures, Romney revealed that he earned $42.7 during those two years and paid $6.2 million in taxes. More specifically he earned $21.7 million in 2010 and paid $3 million in federal taxes, and $21 million in 2011 and paid $3.2 million in taxes. These disclosures reveal Mitt's tax rate is 14%. His rate is so low because his income comes from capital gains on investments. Capital gains are typically taxed at 15% instead of 35% for regular earnings.

Mitt Romney Net Worth: How He Earns it Today
Mitt also served as the Chairman of the 2002 Salt Lake City Olympic Games Committee. According to his campaign disclosures, in 2010 Romney earned an estimated $9.3 million through speaking engagements, investments, pensions, and other holdings. He also donated $4.3 million to the Mormon Church out of a total of $5.9 million in donations.

Check out Mitt Romney's house – a $12 million beach front La Jolla mansion that he's planning to tear down and quadruple in size!

How much money is Mitt Romney worth?

Mitt Romney Net Worth

Articles Written by Brian Warner
Prior to launching Celebrity Net Worth, Brian spent seven years as the Managing Editor of one of the largest entertainment portals on the internet. Before that, Brian attended Georgetown University where he double majored in finance and marketing. A native of Northern California, Brian currently resides in Los Angeles. Follow him on Google+.
More Information
Mitt Romney

Mitt Romney

Willard Mitt Romney is an American businessman and politician who was the Republican Party's nominee for President of the United States in the 2012 election and before that served as the 70th Governor of Massachusetts from 2003 to 2007. Raised in Bloomfield Hills, Michigan, ...
Profession
Date of Birth
  • March 12, 1947
Nicknames
  • Willard Mitt Romney
Height
  • 6 ft 1 in (1.8796 m)
Nationality
  • United States of America
Country
  • United States of America
View Full Profile

Mitt Romney Videos

Discussion