Mitt Romney’s Net Worth: $250 million
Mitt Romney’s net worth has been a topic of conversation in the presidential campaign and it has become a major issue in many opinion polls. Many people wonder about Mitt’s Net Worth.
For those who have forgotten, Mitt Romney’s net worth was estimated to be between eight and eleven million dollars by Forbes magazine in 2020. The estimate was based on the fact that Romney owned all of his own stocks but did not have any partnerships with outside stock holders. These calculations were made after considering the value of his stake in Bain Capital, as well as whether any profits from Bain had to be put to some kind of tax shelter.
Even if the calculations were accurate, we still can not be sure that Mitt Romney is really worth the estimated seven or eight million dollars that he claims to be worth. This is because Mitt does not have any of his personal financial records available for public viewing.
Though he has been an extraordinarily successful businessman, there is no record of him paying taxes for any time gross income since 1977. So, what kind of evidence is there that his net worth could be much higher?
That is a question I asked myself many years ago when I began my research into the true personal net worth of the candidates. It wasn’t a hard question to answer because every financial transaction is recorded in the financial statement. Every purchase and sale, every loan and every deduction are recorded on that document.
After getting a hold of financial statements for all the candidates, I compiled a list of Mitt Romney’s Net Worth to see how high his estimate of his personal net worth was. If you are interested in checking out this research yourself, click here to access it.
The first step in my research was to see how well the past ten years had performed for Romney. Looking at his results in each of those years will give you a fair idea of his potential performance.
A better question to ask is how Romney performed with the federal government projects that he was involved with during his tenure at Bain Capital. Since these were small companies, they had no net worth to speak of. But, when you consider the amount of money that the government had to spend on a project like that, you begin to see how large a company Mitt Romney was when he became the CEO of Bain Capital.
Now, let’s take a look at the value of Romney’s investments. Were the tax write-offs large enough to be of benefit to Romney? Based on the 2020 numbers, the answer is a qualified yes.
Based on the 2020 numbers, Mitt Romney’s estimated value at Bain Capital was two billion dollars. By the 2020 numbers, this figure had climbed to three billion dollars. When you combine his own stock in Bain Capital with other properties, including hotel properties and property in Canada, you get a total value of four billion dollars.
Not only is Mitt Romney now worth several times his initial net worth, but his net worth is increasing daily. In fact, for the third quarter, Romney has already increased his value by eight million dollars!
There is no doubt that Romney is worth a lot more than he has ever claimed to be. The key to determining his true value will be examining the documentation to determine just how much money he has made in the past, and how much money he could make in the future.