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The Romney kids' $100 million trust fund
CNN Money ^ | February 6,2012 | Blake Ellis

Posted on 02/09/2012 1:28:23 PM PST by Hojczyk

Mitt Romney's five sons -- Matt, Tagg, Craig, Ben and Josh -- are sitting pretty with a trust fund worth $100 million.

To get to $100 million, the account would have needed a 26% average annual compound rate of return, said Jonathan Bergman, chief investment officer at Palisades Hudson Asset Management. Stocks over that same time have gained about 10%.

Plus, there are probably many investments we don't know about. "Romney probably invested the trust in the same kinds of things he invested in himself, like startups and private equities -- investments with high growth," said Tim Gagnon, assistant academic specialist of Accounting at Northeastern University.

"You've got people who are paid $1 million a year to work 3,000 hours just to figure out ways to transfer money from older generations to younger generations, and Romney has the money to hire the best of the best," said Bergman.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Politics/Elections
KEYWORDS: romneytrustfund
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1 posted on 02/09/2012 1:28:29 PM PST by Hojczyk
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To: Hojczyk
"You've got people who are paid $1 million a year to work 3,000 hours just to figure out ways to transfer money from older generations to younger generations, and Romney has the money to hire the best of the best," said Bergman.

Good for Milt. I would do the same thing if I were him. This money has already been taxed once or twice already. This article is dripping in class warfare BS. Big surprise it is from CNN.

2 posted on 02/09/2012 1:36:27 PM PST by Lazlo in PA (Now living in a newly minted Red State.)
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To: Hojczyk

and some day, one of them will run for POTUS and tell us that he earned his money working in the private sector just like his dad.


3 posted on 02/09/2012 1:38:24 PM PST by RC one (the majority of republicans agree, anyone but Romney.)
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To: Lazlo in PA

Wow, that’s not even half of what the Kennedy’s have.


4 posted on 02/09/2012 1:38:51 PM PST by massgopguy (I owe everything to George Bailey)
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To: Lazlo in PA

Wow, that’s not even half of what the Kennedy’s have.


5 posted on 02/09/2012 1:39:47 PM PST by massgopguy (I owe everything to George Bailey)
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To: RC one

Mitt Romney was/is a great capitalist. He was self-made.


6 posted on 02/09/2012 1:40:32 PM PST by impimp
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To: Hojczyk

Good for them.


7 posted on 02/09/2012 1:41:10 PM PST by beandog (Just because I don't care doesn't mean I don't understand)
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To: Hojczyk

I wonder how much the Soros kids, Kerry kids, Pelosi kids or Kennedy kids have?

Oh, they’re Dems, we don’t speak of them.


8 posted on 02/09/2012 1:41:45 PM PST by wac3rd (Somewhere in Hell, Ted Kennedy snickers....)
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To: Lazlo in PA

Yep, the Clinton News Network trying to make somethin’ outta nothin’. Just building on more of the Anointed One’s class warfare gig.


9 posted on 02/09/2012 1:42:46 PM PST by b4its2late (Only two things are infinite, the universe and human stupidity, and I am not sure about the former.)
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To: massgopguy

Yeah, only $20 million each! Small beer indeed...pfft!;)


10 posted on 02/09/2012 1:43:32 PM PST by Frank_2001
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To: Hojczyk
"Mit's got tons of money...."

So what?

11 posted on 02/09/2012 1:43:36 PM PST by TPOOH (I wish I could have been Jerry Reed.)
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To: massgopguy

Exactly. That group of clowns has sheltered the Joe’s bootlegging and Nazi collaborating windfalls for 10+ generations of slackers and ne’er do wells. Where are the articles on that?


12 posted on 02/09/2012 1:44:14 PM PST by Lazlo in PA (Now living in a newly minted Red State.)
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To: Hojczyk

Proving “it takes money to make money [or it makes it easier]”


13 posted on 02/09/2012 1:47:45 PM PST by luvbach1 (Stop the destruction in 2012 or continue the decline)
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To: Hojczyk

Per child, that’s just “rounding up” money to Obama’s big backers.


14 posted on 02/09/2012 1:49:19 PM PST by NativeNewYorker (Freepin' Jew Boy)
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To: impimp
Mitt Romney was/is a great capitalist. He was self-made.

Does that mean he didn't inherit anything form father George Romney, former CEO of American Motors?

15 posted on 02/09/2012 1:50:30 PM PST by luvbach1 (Stop the destruction in 2012 or continue the decline)
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To: impimp
wealth is all relative.

In Mitt Romney's case, his father was the relative.

16 posted on 02/09/2012 1:52:43 PM PST by RC one (the majority of republicans agree, anyone but Romney.)
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To: Lazlo in PA
Good for Milt. I would do the same thing if I were him.

I would too......

I wonder how large the trust fund is for Obama's kids?

17 posted on 02/09/2012 1:53:05 PM PST by Hot Tabasco (The only solution to this primary is a shoot out! Last person standing picks the candidate)
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To: Lazlo in PA

3,000 hours works out to 57 hours a week for 52 weeks. 60 hours with a two week vacation. They’ll need it.


18 posted on 02/09/2012 1:59:31 PM PST by massgopguy (I owe everything to George Bailey)
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To: RC one

Mitt gave away his inheritance.


19 posted on 02/09/2012 2:01:05 PM PST by massgopguy (I owe everything to George Bailey)
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To: Hojczyk

I suggest we all email the article writer and ask to see his analysis of the Kennedy, Kerry, Soros, Buffett children’s wealth.....

blake.ellis@turner.com


20 posted on 02/09/2012 2:14:39 PM PST by goodnesswins (2012..."We mutually pledge our Lives, our Fortunes, and our Sacred Honor")
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