Skip to comments.Romney Worth $500 Million Plus, Times Says
Posted on 03/11/2007 11:00:12 AM PDT by wagglebee
Former Massachusetts Gov. Mitt Romney is the richest man in the presidential race.
Presidential candidates are not required to disclose their net worth, and Romney has not. But analysts who track compensation in Romneys business field said it was likely to exceed $500 million, according to a report in Saturday's New York Times.
Romney built his fortune with the Boston-based Bain Capital, a venture and buyout firm. In 1984, Romney began investing Bains $40 million venture fund that eventually grew to billions. Romneys fund was the first investor in Staples, the office supplies store.
The Times also suggests that Romney has been using his personal wealth to woo conservative support for his presidential bid.
The Times report noted that coming on the eve of his presidential campaign, Romneys contributions might create the appearance of a conflict of interest for groups often asked to evaluate him.
For example, Romney critics have already zeroed in on a $15,000 donation to Massachusetts Citizens for Life arguing that he is trying to buy the groups support.
Additionally, Romney-watchers have pointed out that the contributions listed above are to groups to which he had never contributed before.
The paper noted that in 2002 Romney ran the most expensive race for governor in Massachusetts history -- spending about $6 million of his own money on a campaign that rang in at a hefty $9.4 million.
Meanwhile, Romney spokesman Kevin Madden said that Romneys donations simply demonstrated his convictions. "He has donated his time and his effort and whatever resources he can to help advance their causes, Madden said.
Public financial disclosure forms completed by presidential candidates do not reveal net worth. Madden added that the campaign had not yet decided whether to release Romneys tax returns.
Unless the Republicans nominate a hobo, the media will use his wealth to destroy him. They already act like George Bush is some megalomaniacal tycoon when he prefers staying at a small ranch in the middle of nowhere in Texas.
If Romney were to somehow become the nominee, the press would use this to destroy him.
Why? They didn't go after Forbes. He made money the american way, he earned it. How can the press attack someone that is successful? Because he hasn't given most of it away to the poor? Then again, the press can attack him for anything. maybe the food in his basement.
They would certainly try, even as John Kerry's, or rather his wife's, wealth was not an issue to them at all.
Staples is also invested in Algores Generation Investment Management....FWIW
Steve Forbes DID NOT earn his money, he inherited a publishing empire from his father and the press did not make a big deal out of it because they never gave him a real shot at the nomination.
How can the press attack someone that is successful?
As long as they have an "R" after their name, they're fair game.
You mean he didn't inherit his wealth? Don't you just hate people who earn millions through their own hard work? Who wants someone like that in the White House?
BTW - The press will try to destroy whoever the Republican nominee is. That is unavoidable.
If this is true, it doesn't sit too well. It's not having wealth that is a problem but to use it to influcence others to gain power shows where the heart is. In elections, it's either someone truly wants to make a change for the good of USA or merely wants power. It's up to us to sort it out. One thing for sure, the biased media wants to sort it out for us.
"If Romney were to somehow become the nominee, the press would use this to destroy him."
Of course. Kerry was worth as much, but did it by marrying into it. The press was so on his case about that. (/sarc)
Romney actually engaged in individual accomplishment and achievement, and that is strictly forbidden! How dare someine be an example of American material success for others to emulate!
I really dont think it matters... whoever the GOP nominee is, the press will destroy - they will point out that by breathing, the GOP nominee is emitting CO2 and causing global warming, hence is responsible for hurricanes and drought ....
I *wish* I was kidding about it!
Huh? The press is filled with whores. If you have the money, and you pay them, they will lavish praises upon you. If you don't pay them, their other customers will get them to print lies about you at half the price. The press doesn't give a crap about the poor working stiff. They're just trying to fill your brain with swill.
They'll use it against him, but it won't "destroy" him. Personally, I wish he'd adopt me.
Hey, if Romney earned it honestly without harming others, more power to him!
Romney and his supporters also contributed about $10,000 to a nonprofit group affiliated with the National Review.
He can't run now.
"If this is true, it doesn't sit too well. It's not having wealth that is a problem but to use it to influcence others to gain power shows where the heart is."
Wow. Rudy has been campaigning for other candidates and is calling in chits. McCain is calling on 'friends' who've helped eachother. Hillary is out there practically buying South Carolina supporters. Obama OTOH is letting himself *get bought by others*.
"n elections, it's either someone truly wants to make a change for the good of USA or merely wants power."
Romney donated to conservative causes for the good of USA. I appreciate his efforts there and don't see anything wrong with it at all. It would be worse if he *DIDNT* support conservative causes!
"Steve Forbes DID NOT earn his money, he inherited a publishing empire from his father and the press did not make a big deal out of it because they never gave him a real shot at the nomination."
Romney is the most successful 'self-made' candidate we've had in a long time.
I agree completely. However, what we will hear is "unconfirmed reports" of unfair business practices, etc.
Just wait for "unconfirmed reports" of this.
Remember his Senate run in 1994. He was in serious striking distance of taking down Kennedy. At the eleventh hour, the Kennedys dug up a handful of workers in Indiana who had lost their jobs after Bain Capital took over their company. They ran a full court press of critical ads in Mass.,and the sheeple fell for it hook, line, and sinker. The untold story was that Romney's firm took over a troubled firm on the verge of bankruptcy, implementd a solid business plan, made the tough decisions, and saved the jobs of many. We need that kind of leader in Washington.
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