Mitt Romney Net Worth is $250 Million (as of 2020)
Mitt Romney is a prominent American politician, the son of George Romney, the Governor of Michigan. After founding the investment company Bain Capital he ventured into politics. His first attempt to run for Massachusetts Senate was unsuccessful: Mitt lost to Ted Kennedy. He entered this position in 2003, the year after organizing Salt Lake City Olympic Games. In 2008 he ran for the Republican nomination, but fell short of support and was defeated by John McCain. He finally became the Republican nominee in 2012, but ultimately lost for the incumbent president Barak Obama, who was reelected for the second term. According to the latest estimates Mitt Romney net worth amounts to $250.
Quick facts
| Net Worth: | $250 Million |
|---|---|
| Age: | 76 years old |
| Height: | 6 ft 1 in (1.8796 m) |
| Date of birth: | Mar 12, 1947 |
| Nationality: | United States of America |
| Occupation: | Businessperson, Politician, Consultant |
| Last Updated: | 2023 |
Mitt was born in 1947, in Detroit, and grew up in Bloomfield Hills. He was raised in an affluent household, as his father governor George Romney was a wealthy and influential man, even thou his fortune never equaled to the current Mitt Romney net worth. After receiving secondary education from Cranbrook School the future governor enrolled at Brigham Young University. He later continued his studies at Harvard Law School, where he gained a law degree, and Harvard Business School, where he earned Master of Business Administration diploma. While studying there Romney married Ann Davis, with whom they later produced five sons. Both Mitt and his wife belong to the Mormon Church, also known as Church of Jesus Christ of Latter-day Saints. His religion became the centre of media attention in the recent years, as Romney was running for presidency.
In 1984 Romney, along with his business partners Bill Bain, T. Coleman Andrews and Eric Kriss, co-founded a financial services and asset management company Bain Capital. In 2012 this company, headquartered in Boston, managed about $66 billion of investor capital with 400 employees. The success of this firm is responsible for the biggest part of current Mitt Romney net worth. Its pioneering business model, in which the investment firm constantly consults the company it invested in, was praised by many experts and is now widely used all over the world. In contrast, Bain Capital is criticized for the tendency to share profits among the stockholders instead of investing it back to business.
As we have already mentioned, Mitt made his first attempt to enter politics in 1994, but did not succeed until 2003, when he was elected the governor of Massachusetts. Although after successfully reducing state budget deficit he had a good chance of being reelected for the second term as a governor, Romney decided to bid for the United States presidency instead. By that time Mitt Romney net worth has reached impressive heights, allowing him to take a break from business and concentrate on his political career. However, as you already know, the time he devoted did not become his key to success.
