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Romney’s Net Worth Remains as High as $250 Million

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Mitt Romney
Repubican presidential candidate and former Massachusetts Gov. Mitt Romney speaks during news conference in front the shuttered Solyndra solar power company's manufacturing facility May 31, 2012 in Fremont, California. Photographer: Justin Sullivan/Getty Images

June 2 (Bloomberg) -- Mitt Romney’s net worth remains as high as $250 million, according to financial disclosure forms that show the presumptive Republican presidential nominee sold stock in companies such as McDonald’s Corp., Boeing Co. and Exxon Mobil Corp.

The Romney campaign said yesterday his net worth is between $190 million and $250 million in a report filed with the U.S. Federal Election Commission. The figures are unchanged from a year ago, according to his forms, which list assets in broad ranges. Romney is a co-founder of the Boston-based private equity firm Bain Capital LLC.

Andrea Saul, a campaign spokeswoman, said the stock sales were handled by an investment adviser and weren’t ordered by Romney or his wife, Ann.

“Governor and Mrs. Romney’s assets are managed on a blind basis,” Saul said in a statement. “They do not control the investment of these assets, which are under the control and overall management of a trustee.”

Romney, 65, a former Massachusetts governor, received $260,390 from stock owed to him as a director of Bethesda, Maryland-based Marriott International Inc., a position he resigned from before running for president. Marriott’s chairman, J.W. Marriott Jr., is a major Romney supporter who donated $1 million to Restore Our Future, a political action committee supporting his candidacy.

Speaking Fees

Romney also received $68,000 for speaking to the International Franchise Association, a Washington-based trade group; $68,000 for speaking to New York-based Goldentree Asset Management LP; and $42,500 for the second straight year for speaking to London-based Barclays Plc. A Barclays lobbyist, Patrick Durkin, is raising money for Romney’s presidential campaign.

Four years ago, Romney disclosed assets of as much as $247 million as he spent $45 million of his own money on his unsuccessful bid for the Republican presidential nomination.

Romney, who is seeking to unseat President Barack Obama, made his first donation to the 2012 White House contest last month. He and his wife each gave $75,000 to the joint fundraising committee with the Republican National Committee, according to a Romney aide speaking on condition of anonymity.

To contact the reporter on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net.

To contact the editor responsible for this story: Jeanne Cummings at jcummings21@bloomberg.net.

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