Mitt Romney Net Worth

Net Worth: S169 Million

  • Full Name: Willard Mitt Romney
  • Born: 03/12/1947
  • Birthplace: Detroit, Michigan
  • Occupation Presidential Candidate / Politician / Business investor
  • Marital Status: Married to Ann (Davies) Romney

Mitt Romney’s net worth history

Mitt Romney’s net worth can only be stated as a range because of varying values of the funds which make up most of his wealth. The figure stated above is an average between a range of just under 81 to slightly under 258 million dollars as of early 2015. Romney is the son of George Romney who became the head of American Motors Corporation in the early 1950’s, and later governor of Michigan. Because of the notoriety of his father and opportunities arising from his family’s position, Mitt has been accused of inheriting much of his wealth. This is a charge he has vehemently denied. He does admit to receiving an inheritance check but donated the money to charity. Although there is no absolute proof there is more than enough evidence to support Romney’s account. Most of Mitt Romney’s wealth was earned while head of Bain Capital from 1983 – 1999. Bain Capital is one of the largest and most successful private equity firms in the country. Romney also has financial interests in many other funds, firms, and businesses.

About Mitt Romney

Willard Mitt Romney is a fifth generation Mormon, or Latter Day Saint. Two of his great great grandparents were active in the early years of the Church of Jesus Christ of Latter Day Saints. One of them was a noted leader. Romney has remained active in the church throughout his life.

As a young child Willard Romney was called Billy but let it be known when he began attending Kindergarten that he preferred to be called Mitt. He went to public schools in his early years but began attending Cranbrook a private preparatory school in a Detroit suburb in seventh grade. He was an undistinguished athlete and student but was active in a wide variety of school organizations. Near the end of his senior year he became informally engaged to Ann Davies who attended an all girls school nearby. In 1969 they would be married and remain so today.

Romney initially went to Stanford University in California following graduation from Cranbrook but later transferred to Brigham Young University in Salt Lake City. From 1966 – 1968 he left school to be a LDS church missionary in France. He was no mores successful at winning converts than most Mormon missionaries but won notice for his efforts. While in France Romney also became involved in debates with French citizens who opposed American involvement in Vietnam.

After his tour for the Church was completed, Mitt returned to BYU and completed his Bachelor of Arts degree in 1971. In 1975 he earned an MBA degree from Harvard graduate school. Rather than take a corporate position Romney chose to pursue a career as a consultant. citing the benefits he would gain from exposure to executives in various companies. He was hired by Boston Consulting group.

In 1977 Romney, along with Bill Bain and other BCG associates formed Bain and company; another consulting firm. In 1983 Romney was asked, and eventually agreed, to head up a spinoff of Bain which became Bain Capital. Initially Bain Capital was a Venture capital investment company but later abandoned startups in favor of leveraged buyouts. Romney’s practical role at Bain was to analyze potential takeovers and recruit investors for those deemed worth pursuing.

Although he had been involved in his parent’s campaigns as a youth, Romney took his ownfirst stab at politics in 1994 by opposing Massachusetts senator Ted Kennedy. He was successful in rejecting attempts to tie him to Reagan conservatism but eventually lost to Kennedy in the general election. His phenomenal success as President of the 2002 winter Olympics in Salt Lake City pushed him back into public consciousness and he used that to run a successful bid to be governor of Massachusetts. He ran as a moderate, won and served from 2003 – 2007.

Since then Romney has twice ran for President as a Republican and in 2012 won the Republican nomination. He was eventually defeated in a close race by incumbent President Barack Obama. In January of this year Romney announced that he would not be seeking the Party’s nomination for President in 2016.