Romney Worth As Much As $250 Million
EmailABC 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 $100 million, the Romney campaign said.
Mitt and Ann Romney are not beneficiaries and, therefore, not required to disclose this. But it exists in addition to the other money.
Four years ago, the Romneys cited the trust when asked if they were forfeiting their children's inheritance by dumping their own money into the campaign. They said "no" because of this trust, which still exists. This time, Romney so far has spent none of his own money on his presidential campaign.
Best Commencement Speeches of 2012 
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$ 1/4 billion , pretty nice. What kind of “business ” is he in anyway ? And conservatives call Obama “rich” ? Duh.
Posted by: dannym | August 12, 2011, 8:20 pm 8:20 pm
Do lower/middle class GOP folks really think this guy understands their problems and their difficult everyday problems. This guy is known for putting people out of work; and that’s what he would do as president. Oh, no he won’t – because Obama’s going back.
Posted by: Stlchicago | August 12, 2011, 8:24 pm 8:24 pm
Compare this to Obama—-who has NEVER had a private sector job, nor started a private sector company.
Posted by: free_2_choose | August 12, 2011, 8:28 pm 8:28 pm
Mitt’s trying to make up for lost time. Three weeks in hiding while the rest of the world talked Debt Ceiling. Now that the immediate problem is finally solved, he shows up again. We’ve already got one of these kinds of guys in the White House. We don’t need another.
Posted by: wantingbalance | August 12, 2011, 8:31 pm 8:31 pm
Good for Mr. Romney.
Being rich is not a sin, and being poor doesn’t automatically make you a scholar or a saint. I’m sick of class envy.
Posted by: Richard | August 12, 2011, 8:41 pm 8:41 pm
Let’s see, poor unemployed Mitt the Nit could give one dollar to every legal American adult and still qualify to be on “Millionaire Matchmaker” with what’s left over.
Posted by: Ted TampaBay | August 12, 2011, 8:46 pm 8:46 pm
You want to be rich?
Be happy with your lot in life. If there is something that you don’t like, change it. You have the power.
Posted by: Richard | August 12, 2011, 8:52 pm 8:52 pm
How many of those millions were made on the backs of the tens of thousands of workers Romney fired?
Posted by: Travis | August 12, 2011, 9:01 pm 9:01 pm
Mitt doesn’t need the money. He can afford his own vacations! (unlike our current President) He donated the earnings from his book which shows that he is not into running for President in order to get rich (Unlike Clinton and Obama). He knows how to profitably create private sector jobs. (Unlike Clinton and Obama) It seems like a Romney/Rubio would be a dream team with the possibility of leading for 16 years!!!
Posted by: Common _ Sense | August 12, 2011, 9:07 pm 9:07 pm
This whole topic is silly. How about Rich Franklin Delano Roosevelt? Rich John F. Kennedy? No one should have ever voted for FDR or JFK because they were rich? Please grow up, people.
Posted by: Gosseyn | August 12, 2011, 9:09 pm 9:09 pm
The again is a very REAL candidate for President. He understands wealth and how to deal with it. Our current administration doesn’t even know you must pay the bills. But this man does!
Posted by: Tom | August 12, 2011, 9:14 pm 9:14 pm
That’s what happens when you have rich parents and your best friends are corporations.
Posted by: ahumbleopinion | August 12, 2011, 9:15 pm 9:15 pm
“Compare this to Obama—-who has NEVER had a private sector job”
Not true:
The President worked for a year at the Business International Corporation, then at the New York Public Interest Research Group. He worked as a civil rights attorney in Chicago and taught constitutional law at the University of Chicago Law School.
Just because he was more interested in public service than in making a lot of money, does not mean he does not have work experience pertinent to his job.
Posted by: ahumbleopinion | August 12, 2011, 9:20 pm 9:20 pm
Please publish the net worth and incomes of all members of Congress and the administration.
Posted by: Rasputin3.14 | August 12, 2011, 9:29 pm 9:29 pm
I care about the foreign policy
Posted by: C-BOY | August 12, 2011, 9:31 pm 9:31 pm
ROMNEY FAKE PHONY FLIP FAKE FONY
Posted by: swing voter | August 12, 2011, 9:35 pm 9:35 pm
All you folks need is another middle-aged white guy in the white house. Any one of them will do, no?
Posted by: HaHaHa2011 | August 12, 2011, 9:48 pm 9:48 pm
good for the Romneys
Posted by: chicagoan | August 12, 2011, 9:48 pm 9:48 pm
mmmmmm…fried ice cream.
Posted by: gohexyourself | August 12, 2011, 9:52 pm 9:52 pm
Same guy that took over failing companies so that he could drive them into the ground and send workers packing. Yeah, vote for this guy and you may find yourself packing too. This guy must love making fun of the unemployed when he claims he’s too is “unemployed”. Yeah, just about everybody that’s unemployed has a 250 million stashed away. Disgrace.
Posted by: jake | August 12, 2011, 9:57 pm 9:57 pm
Mitt doesn’t need the money. He can afford his own vacations! (unlike our current President) He donated the earnings from his book which shows that he is not into running for President in order to get rich (Unlike Clinton and Obama). He knows how to profitably create private sector jobs. (Unlike Clinton and Obama) It seems like a Romney/Rubio would be a dream team with the possibility of leading for 16 years!!!
POSTED BY: COMMON _ SENSE | AUG 12, 2011 9:07:03 PM
the guy has not had one vote yet and you are already running for 4 election cycles let’s take care of today instead of of some legacy 15 or 20 years down the road
Posted by: GREG | August 12, 2011, 10:13 pm 10:13 pm
Good for you Mr Romney!! Maybe you could teach the Obama how to actually create an environment where people make their own wealth rather than just stealing it from others.
Posted by: whathappened08 | August 12, 2011, 10:15 pm 10:15 pm
Reading these comments are amazing, people claiming President Obama never had a job and somehow he doesn’t pay for his own vacation. The saddest part about these comments? It’s usually middle aged white people, who NO matter what the President does they will NEVER agree with anyway. So, why come up with disparaging comments, oh let me guess you have black friends so you’re not racist. It’s over-bearing now this man has been in over 2 years all you guys can do is gather negativity. In the words of Bill Maher, “if you are racist, you’re probably a republican.” (words taken from an episode of ABC’s This Week)
Posted by: IUsuallyDon'tComment | August 12, 2011, 10:17 pm 10:17 pm
Good. We need a president that knows how to make money. We are bankrupt. We need somebody that can turn it around.
Posted by: Steve | August 12, 2011, 10:33 pm 10:33 pm
no way we will elect a Mormon,
PERIOD.
Posted by: NorCA Jeff | August 12, 2011, 10:34 pm 10:34 pm
NORCA JEFF SAID—”no way we will elect a Mormon,PERIOD.”———–Really why??
Posted by: whathappened08 | August 12, 2011, 10:38 pm 10:38 pm
According to their site;
Investment Strategy
Solamere Capital was formed by a collection of influential industry leaders (the “Founders”) to identify premier private equity opportunities by leveraging their unparalleled networks, business expertise, and access to compelling opportunities. Solamere Capital works directly with these Founders in a multi-family office capacity, providing superior service and a diversified mix of top-tier private equity investments.
Solamere provides its Investors:
Access to exclusive high-quality private equity fund partnerships within buyout, turnaround, growth equity, distressed, credit and venture capital strategies
Access to co-investment opportunities made available through the relationships Solamere has developed with its private equity fund partnerships
Access to direct investment opportunities that will be sourced and impacted by the strengths and experiences of our Partners’ and Founders’ networks
Solamere provides its Fund Partnerships:
Access to a large and active network of influential industry leaders
Access to deal flow generated by Solamere’s Partners and its Founders’ networks
Solamere provides its Portfolio Companies:
Access to key business executives who can significantly impact top-line growth
Partnerships to help create long-term value through growth opportunities, strategic development, and operational refinement.
Looks like a by-pass-rules-scheme to me1
Posted by: NorCA Jeff | August 12, 2011, 10:51 pm 10:51 pm
Romney sent more jobs out of state and country than he created in his private business dealings.
Romney also killed more jobs than he created while Governor.
Romney will never be elected President.
Posted by: NorCA Jeff | August 12, 2011, 10:52 pm 10:52 pm
What is with republicans? The man did Obamacare basically. Which I thought they hated.
Posted by: maemobly | August 12, 2011, 10:59 pm 10:59 pm
This explains the weird, pasted expression romney kept all through the republican debate in Iowa, or as long as chameras focused on him. Very strangely even when opponents critized him, he kept smiling, he looked like a clone.
Posted by: Moderate American | August 12, 2011, 11:21 pm 11:21 pm
This guy uses a trustee to handle his money, so obviously he’s incapable of handling a mere 250mil… what happens when he needs to handle a $16 trillion deficit?? Put someone who has to work for a living in charge, maybe a good high school drop-out, they’ll fix it much more quickly than throwing in yet more millionaires…
Posted by: looncraz | August 12, 2011, 11:23 pm 11:23 pm
to rich republican extremists: it is not your stolen tax wealth to envy, rather it is your financial selfishness and lack of compassion to help poor middle working and working class Americans. Got it?
Posted by: Moderate American | August 12, 2011, 11:29 pm 11:29 pm
Romney was part of the General Electric top board? It figures General Electric just fled to China and took millions of jobs to Asia by firing American workers :( Many of those middle class managers lost their jobs too :(
Posted by: Moderate American | August 12, 2011, 11:32 pm 11:32 pm
What isn’t mentioned is he inherited most (all?) of his money.
Posted by: cowboyhank | August 12, 2011, 11:44 pm 11:44 pm
REPLY TO FREE_TO_CHOOSE: Look, liberty to choose is not a license to lie, sir. I have read President Obama worked in business first, then as a volunteer to fix poor neighborhoods. You need to read President Obama
s geography. Otherwise you are denying what world encyclopedias and history books have published after conscientious research. If you go believe what the partisan Fox News spreads, you are spreading serious misinformation about the President of the United States.
Posted by: Moderate American | August 12, 2011, 11:44 pm 11:44 pm
A president who knows how to handle money?
That would be a nice change.
Posted by: oonogil | August 12, 2011, 11:49 pm 11:49 pm
to you rich republicans: making wealth is not the only thing; rather creating prosperity for all Americans, jobs and true equality are far more morally and politically valuable.
But you ultra-rich are stuck in a dead hole where no sane American can rescue you from, mainly because you refuse to leave.
Posted by: Moderate American | August 12, 2011, 11:51 pm 11:51 pm
He’s Rich – WHO CARES
Isn’t that the American Dream.
Posted by: Reality Check | August 13, 2011, 12:14 am 12:14 am
Money does not make a man.The three greatest treasures a person can have are
simplicity,patience and compassion. It does
not hurt to have a fortune in this day and age.
Posted by: deadwrestler | August 13, 2011, 12:55 am 12:55 am
GEE, I’M SURE ROMNEY CAN RELATE TO THE MIDDLE CLASS.NOT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Posted by: bw | August 13, 2011, 1:05 am 1:05 am
It’s not important that Mitt Romney made a lot of money with the original stake and influence of his wealthy dad. What is important is how he made it, buying companies, then laying off workers.
Posted by: Lydia | August 13, 2011, 1:17 am 1:17 am
I wonder if this was an issue when John Kerry ran for President ?
Posted by: BofL's | August 13, 2011, 6:11 am 6:11 am
…and you wonder why the GOP is so AGAINST raising the wealthiest man’s tax rate? Hypocrite.
Posted by: Julie | August 13, 2011, 7:45 am 7:45 am
Guess no one is talking about Obama’s $35,000 per week vacation huh?
Posted by: Andy | August 13, 2011, 8:07 am 8:07 am
That’s great, maybe he will not be bought off by the unions and be corrupted by the lobbiest.
Posted by: Freedom | August 13, 2011, 9:13 am 9:13 am
Good, so he will not be corrupted by the Unions and lobbyist.
Posted by: Freedom | August 13, 2011, 11:44 am 11:44 am
Has America become so crude and ignorant that it no longer wants to recognize and acknowledge decency, refinement and intelligence in a man such as Romney? We need a president who can turn this country around and save it from bankrupcty and ruin as Romney did to save the winter olympics in 2002! Wake up America!!!!
Posted by: Kim | August 15, 2011, 1:54 am 1:54 am
Yes there should realize the reader to RSS my feed to RSS commentary, quite simply
Posted by: hooher tod | September 3, 2011, 4:21 pm 4:21 pm
Unbelievable, why would anyone who has 200 million dollars to his name, care about anyone especially the unemployed? Why would Romney care about the economy ? I bet he doesnt worry about how buy his kids food everyday!!!! If he would share a million with me i would vote for him!
Posted by: Dee | December 12, 2011, 6:53 pm 6:53 pm