Romney Worth As Much As $250 Million

By Eliza

Aug 12, 2011 5:59pm

ABC News’ Emily Friedman (@EmilyABC) and John Berman (@johnsberman) reports:

Mitt Romney’s net worth is somewhere between $190 and $250 million, according to the candidate’s personal financial disclosure filed today with the Federal Election Commission and obtained by ABC News.

The details of Romney’s worth were first reported earlier today by The Boston Globe, but were later detailed by Romney’s own campaign.

“Governor and Mrs. Romney's assets are managed on a blind basis. They do not control the investment of these assets. The assets are under the control and overall management of a trustee,” said Romney for President Communications Director Gail Gitcho in an e-mail statement. 

The Romney’s finance disclosure report — one that is required for all presidential candidates – show investments in a variety of areas. The long list of companies Romney invests between $50,000 and $100,000 include Apple and rival Microsoft, General Electric, Google and sports giant Nike.

The report also confirms what many already knew: Romney’s wealth far exceeds those of his GOP contenders as well as President Barack Obama.

ABC News’ own analysis of Romney’s financial records show the former Massachusetts governor earned $113,000 in a director’s fee for his spot on the board at Marriott International.

A total of eight speaking engagements – speeches were delivered to bankers and students, primarily – garnered Romney more than $370,000.

The filing also shows that Romney has somewhere between $250 thousand and $500 thousand in a Bank of America account and has the same amount in gold.

He earned between $100,000 and $1 million from his book “No Apology,” earnings that were all donated to charity.  The charities that divided the earnings equally were the Joey Fund, Cystic Fibrosis Foundation, Sabin Children’s Foundation, National Multiple Sclerosis Society, Dana Farber Cancer Institute Jimmy Fund, and Homes for Our Troops.

The report also shows that Romney owns between $250,000 and $500,000 in horses. His wife, Ann Romney, has often credited horse therapy with helping her cope with her Multiple Sclerosis.

At least $1,000,000 of Romney’s fortune is invested in his son Tagg’s company, Solamere Founders Fund.

In addition, the Romneys still have a trust for their children and grandchildren valued at roughly $100 million, the Romney campaign said.

Mitt and Ann Romney are not beneficiaries and, therefore, not required to disclose this. But it exists in addition to the other money.

Four years ago, the Romneys cited the trust when asked if they were forfeiting their children's inheritance by dumping their own money into the campaign. They said "no" because of this trust, which still exists. This time, Romney so far has spent none of his own money on his presidential campaign.

You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus