Mitt Romney Net Worth: How Wealthy Is the Republican Lawmaker Dubbed as the Richest Senator?

Republican Senator Mitt Romney is dubbed as the wealthiest senator by Investopedia. He was known to have tried running for the presidential seat twice.

Romney reportedly got his fortune in business ventures before diving into politics. He was known to have founded and run the private investment firm Bain Capital. He was the youngest of four siblings and was born into one of the most prominent families within the Mormon faith.

George Romney, his father, was a successful business executive who managed American Motors from near bankruptcy to record profits.

George later served as governor of Michigan from 1963 to 1969 and as secretary of housing and urban development in the cabinet of President Richard M. Nixon.

Romney attended Stanford University in California, which was interrupted after he went on a 30-month missionary campaign for the Mormon church in France.

He later returned to the U.S. and graduated summa cum laude from Brigham Young University with a Bachelor's degree in English. The younger Romney earned J.D. and M.B.A. degrees from Harvard University in 1975.

Mitt Romney Net Worth

According to Celebrity Net Worth, Mitt Romney has a net worth of $300 million. Romney left Bain Capital after 25 years of work, with the firm having over $4 billion under management, and he has taken home hundreds of millions in personal wealth.

Tax records for 2010 and 2011 revealed that Romney had earned $42.7 million during those two years and paid $6.2 million in taxes.

He also earned $21.7 million in 2010 and paid $3 million in federal taxes and $21 million in 2011. Tax returns for 2015, 2016, and 2017 showed that he earned a total of $83.8 million during those years.

It also showed that he and his wife had donated $11 million to charity during that period. During Romney's 2012 presidential campaign, his financial disclosure forms revealed that his estimated total net worth was between $80 to $255 million.

In addition, the value of his Individual Retirement Account alone was $102 million. Romney and his wife own a valuable real estate portfolio, having at least six properties around the country.

They paid $12 million for a beachfront mansion in La Jolla, California in 2008 and built an 8,000-square-foot mansion on the lot. They sold the home for $23.5 million in July 2021.

Mitt Romney and his family also own a $9 million mansion in Park City, Utah; a $10 million 11-acre property in New Hampshire; and a townhouse in Boston, Massachusetts.

Mitt Romney's Political Career

In 2008, Mitt Romney tried to pursue the presidency, and despite losing, he remained active in politics. In June 2011, he announced his second bid for the presidency but struggled to gain support from social conservatives, who still viewed him as a moderate, according to Britannica.

During his gubernatorial stint in Massachusetts, he addressed the state's budget problems, implemented universal health care for the uninsured, and created a scholarship for lower- and middle-income students.

Mitt Romney was elected as senator from Utah in November 2018 and sworn in in January 2019.

This article is owned by Latin Post.

Written by: Mary Webber

WATCH: Romney: Russia and China Are Exploiting Nations for Their Own Political and Economic Gain - From Senator Mitt Romney