Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Mitt Romney is worth $250 million. Why so little? (Here's a new tack)
The Washington Post ^ | October 5, 2012 | William D. Cohan

Posted on 10/05/2012 11:24:55 PM PDT by 2ndDivisionVet

Mitt Romney is indisputably a very rich man. And if he is elected president on Nov. 6, he will become one of the wealthiest people ever to hold the office.

But exactly how wealthy is Romney? The figure that gets tossed around is $250 million in net worth — meaning the total value of his assets, financial and others, minus any debts.

It’s a big number, but frankly, it seems low. Given the industry in which he made his fortune (private equity), the era when he made it (the 1980s and 1990s) and the wealth of his peers in that business (mostly billionaires), Romney should be worth a good bit more than that.

Why isn’t he?

No surprise, Romney has not made it easy to figure out the precise size of his fortune, and any inferences drawn from the available data are necessarily speculative — yet they still, I think, say something about the man who would be president.

We know that Romney’s fortune derives in large part from his founding in 1984 of Bain Capital, one of the premier private-equity firms in the world, which he ran for the next 15 years or so, during a boom time for the industry...

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Politics
KEYWORDS: business; privateequity; romney; venturecapital

1 posted on 10/05/2012 11:25:02 PM PDT by 2ndDivisionVet
[ Post Reply | Private Reply | View Replies]

To: 2ndDivisionVet

Let’s speculate on Obama’s net worth that he and Chewie would have if...

- What kind of Chicago home would have been purchased on the salary the two of them had before he was elected to anything.

- We only measured their wealth by what they made before their political ascendency.

- They had never relied on cronyism to earn a dime.


2 posted on 10/05/2012 11:29:20 PM PDT by PittsburghAfterDark
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

I didn’t read the entire article, but I bet that the fact that the Romneys contribute a ridiculous % of their income to charity may answer the question in the title.


3 posted on 10/05/2012 11:32:05 PM PDT by winner3000
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Yeah, he’s not even close to being John F Theresa Heinz Kerry rich.


4 posted on 10/05/2012 11:40:34 PM PDT by andyk (I have sworn...eternal hostility against every form of tyranny over the mind of man.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

That is one of the most pathetic opinion pieces I have ever read.

The circular logic employed by the writer seems to suggest not voting for Romney because - he either sucks as a businessman since he is not a billionaire or Romney is so rich he could never understand the rest of us.

Wow. I wonder what this penhippie wrote about Kerry’s wealth in 2004?


5 posted on 10/05/2012 11:41:25 PM PDT by volunbeer (We must embrace austerity or austerity will embrace us)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Isn’t libscum desperation fun to watch?


6 posted on 10/05/2012 11:43:08 PM PDT by piytar (The predator-class is furious that their prey are shooting back.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: winner3000

The $250 million dollars, if that’s his net worth, likely doesn’t include the millions he has set aside for his family.

I’m just being factual on that point, nothing more than that.


7 posted on 10/05/2012 11:44:47 PM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: 2ndDivisionVet
The Obama's have cost us 1.4 billion to maintain them since they got into the White House.

At least the Romney's are not a drain on the taxpayer.

8 posted on 10/05/2012 11:45:18 PM PDT by Slyfox
[ Post Reply | Private Reply | To 1 | View Replies]

To: Slyfox

yet


9 posted on 10/05/2012 11:49:42 PM PDT by GeronL (http://asspos.blogspot.com)
[ Post Reply | Private Reply | To 8 | View Replies]

To: PittsburghAfterDark
I remember reading some interview of Mooch and she said prior to Zero being a US Senator they where constantly in financial hot water. Barely making ends meet so to speak. (Well no surprise there!) Of course like anything that comes out from those two's mouth, whats real and whats for the audience's consumption!

Maybe somebody on the board here can probably find a link to that interview of Mooch and post it!

She at one time had a $100K plus “make work” job at one of the major Chicago hospitals where they tripled her salary when Zero made US Senator.

10 posted on 10/05/2012 11:55:02 PM PDT by Reily (l)
[ Post Reply | Private Reply | To 2 | View Replies]

To: 2ndDivisionVet
There they go again!

Pat Caddell slams the media: They have become an “enemy of the people” (video 26:00)

11 posted on 10/05/2012 11:55:24 PM PDT by TigersEye (dishonorabledisclosure.com - OPSEC (give them support))
[ Post Reply | Private Reply | To 1 | View Replies]

To: andyk
John Kerry, the guy who CHOSE to pay the lower 5% MA State Income Tax Rate rather than pay the voluntary 7% Tax Rate.

Hiding the Yacht in Rhode Island was just the icing on the cake. Wonder if that came up in the Obama Debate Prep?

12 posted on 10/05/2012 11:56:25 PM PDT by Kickass Conservative (How do you insult an Obama Voter? Call them an Obama Voter.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Slyfox

Yes and the cost of the Zero’s imperial life is several times more then the UK pays for maintaining the Royal Family!


13 posted on 10/05/2012 11:56:43 PM PDT by Reily (l)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Reily
Her “make work” job paid $300,000, not $100,000.

Her job was to dump poor Patients without Insurance Coverage on other Hospitals.

14 posted on 10/06/2012 12:02:51 AM PDT by Kickass Conservative (How do you insult an Obama Voter? Call them an Obama Voter.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: 2ndDivisionVet
Did this guy pick Obama’s nose in the same manner in which he ‘feels’ the need to pick Romney's nose? No. Bunch of covetous liberals.
15 posted on 10/06/2012 12:04:18 AM PDT by Just mythoughts (Please help Todd Akin defeat Claire and the GOP-e send money!!!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Reily

I think we’d need to know how much of the $1.5 billion is structural, built into the presidency. This amount is what George Bush cost the taxpayers and this amount will be how much Romney will cost the taxpayers, hopefully.

I know they both spent like drunken kings, but I like accuracy anyway.


16 posted on 10/06/2012 12:05:12 AM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Reily; GeronL
There was a guy who had bought the Romney's house in Park City, UT. He reported that Romney got his sons together and he rented a truck and they moved their own stuff. This is 250 millionaire. Inside his house was stuff bought at Costco, JC Penneys, Target, etc.

My point being, they are used to caring for their own money. The Obama's are used to feeding off the taxpayers. Is it any wonder that Moochelle has a number of assistants who make over 100,000 per year that WE pay for.

The Obama's are like rap stars who have a mooching posse with fat rearends hanging around sipping on OUR MONEY.

17 posted on 10/06/2012 12:14:41 AM PDT by Slyfox
[ Post Reply | Private Reply | To 13 | View Replies]

To: Reily

I wonder if the Obama’s will go broke after they are out of the White House, they spend like mad and don’t seem to care for work all that much. My mother tells me nah, they’ve got some of that bailout money stashed somewhere, someway, somehow.


18 posted on 10/06/2012 12:19:46 AM PDT by Irenic (The pencil sharpener and Elmer's glue is put away-- we've lost the red wheel barrow)
[ Post Reply | Private Reply | To 13 | View Replies]

To: 2ndDivisionVet

Any given weekday it could all be worth nothing, if Obama steals the election.


19 posted on 10/06/2012 12:20:04 AM PDT by Berlin_Freeper (Obama at the UN: The future must not belong to those who slander the prophet of Islam.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

I’d never looked/thought about it in that light, and I’ve lived in MA, mostly Boston, for 30 years.

In all the time I lived in MA and watched the political side of his career, the failed senate run, then he ran for gov, then he was the gov .... always struck me as a completely stand up guy, humble, happy, with his act totally together.

I think he’s a man about whom ... you can argue about his ideology, politics, views, whatever ... I believe his integrity though is impeccable, and he’s going to be a really good mentor-example in terms of executive leadership and financial understanding for the more conservative guys/women coming up behind him, like Ryan.

Ryan will develop to his full potential as a conservative leader by VP’ing under Mitt for 4, 8 years.

He’s a lot more than just a not-Obama (IMO)

Thanks for posting!


20 posted on 10/06/2012 12:36:38 AM PDT by HannibalHamlinJr
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Whatevuh. He’z still gotz Private Jet money and though it’s not FU money(only because he doesn’t talk like that) it’s enough to allow him to throw away a bar of soap after he wears the letters off....


21 posted on 10/06/2012 12:45:17 AM PDT by Vendome (Don't take life so seriously, you won't live through it anyway)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Vendome

One of the Hollywood producers gives away his Levi 501 jeans after he’s worn them once. He never washes them because it changes the fit, or some such.


22 posted on 10/06/2012 1:13:54 AM PDT by 2ndDivisionVet (You cannot invade the mainland United States. There would be a rifle behind every blade of grass.)
[ Post Reply | Private Reply | To 21 | View Replies]

To: 2ndDivisionVet
We will never really know what he is worth and who cares anyway? Its clear how he lives his life and how important his charitable giving is to him. How many Americans can say their charitable giving is their biggest expense?

One thing is for sure, he and all of us would be far more well off in a no-Obama economy.

23 posted on 10/06/2012 3:32:20 AM PDT by JIM O
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet
If he were perceived as the first real billionaire to run for president, it would only exacerbate popular doubts about how someone living so removed from the concerns of average Americans — or even just 47 percent of them — could effectively represent them.

And if he is not a billionaire, doesn’t it suggest that he was not a great private-equity investor after all, thus torpedoing his claim to understand how to create jobs and get the economy back on track?

"Whereunto shall I liken this generation? It is like unto children sitting in the marketplace, who call unto their fellows and say, We piped unto you and ye would not dance, we wailed, and ye did not mourn."
And Ronald Reagan was an actor, and you can’t take him seriously - and he was only a “B” movie actor at that . . .

24 posted on 10/06/2012 4:31:06 AM PDT by conservatism_IS_compassion (The idea around which “liberalism" coheres is that NOTHING actually matters except PR.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: volunbeer

How shall we say it ~ nicely ~ Kerry married money ~ big money ~ and to marry big money you need to be able to put forward a very large and positive personality point or two ~ on command!


25 posted on 10/06/2012 4:45:32 AM PDT by muawiyah
[ Post Reply | Private Reply | To 5 | View Replies]

To: 2ndDivisionVet

250 Million! If I had that I could get a year’s supply of motor oil for my Ford Fiesta!


26 posted on 10/06/2012 4:54:26 AM PDT by tsowellfan
[ Post Reply | Private Reply | To 1 | View Replies]

To: Irenic

I hope the taxpayers don’t get stuck with staffing and maintaining the Hawaii abode. I’d like to see Michelle and the girls dust, vacuum and clean toilets like the rest of us.


27 posted on 10/06/2012 5:04:33 AM PDT by IM2MAD
[ Post Reply | Private Reply | To 18 | View Replies]

To: 2ndDivisionVet
It’s a big number, but frankly, it seems low. Given the industry in which he made his fortune (private equity), the era when he made it (the 1980s and 1990s) and the wealth of his peers in that business (mostly billionaires), Romney should be worth a good bit more than that. Why isn’t he?

Taxes paid...Federal,state,local? Charitable contributions?

28 posted on 10/06/2012 6:52:35 PM PDT by Gay State Conservative (Ambassador Stevens Is Dead And The Chevy Volt Is Alive)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson