Mitt Romney still worth $190m to $250m
WASHINGTON – Mitt Romney is worth between $190 million and $250 million, a range unchanged from last year, his campaign said late Friday after filing a personal financial disclosure statement with the Federal Election Commission.
The Romneys hold vast financial holdings and use a range of investment tools, which were displayed throughout a 20-page filing that was stamped by the FEC at 4:24 p.m. on Friday – typically a time when inconvenient news is released. Romney’s wealth has been a sensitive issue during his campaign, and he has several times over the past year disclosed information related to his finances.
Earlier this year, for the first time, he released tax returns that showed an income of $21.7 million in 2010. The forms filed on Friday show all of his financial holdings, but oftentimes only in the broadest of values that federal law requires.
The forms indicate that the Romneys had financial holdings in a range of between $83 million and $255 million. His campaign said a more accurate range was between $190 million and $250 million.
The Romneys keep between $250,001 and $500,000 in a Bank of America cash account, and continue to earn millions from a retirement deal with Bain Capital, the firm he started in 1984 and left in 1999.
Over the past year, the forms show, Romney received a total of $189,975 for four speeches, which came from Emory University ($11,475), Barclay’s Bank ($42,500), Goldentree Asset Management ($68,000), and the International Franchise Association ($68,000).
Romney also received $260,390 from Marriott, for distributions still coming from his time on the board at the international hotel company. He earned between $50,001 and $100,000 in profits from his book, “No Apology” which his campaign said were distributed to six charities, and he made $201 to $1,000 in reprint fees for a New York Times opinion piece.
Many of the items are unchanged from the filing that Romney submitted last year. The Romneys still own between $250,001 and $500,000 in gold, for example. They still have more than $1 million invested in Solamere Founders Fund, which is run by their oldest son, Tagg, and the trust established for their five sons is still worth roughly $100 million.
The forms also indicate that Ann Romney still owns horses in California worth between $250,001 and $500,000. She has frequently promoted the use of horse riding as a therapeutic way of coping with multiple sclerosis. The horses she owns engage in competitions and earn prizes, so they are required to disclose Romney’s share of an LLC that owns them.
Romney’s investments are held in a blind trust, which Romney created when he became governor in January 2003.
“Governor and Mrs. Romney’s assets are managed on a blind basis,” Andrea Saul, a Romney spokeswoman, said in a statement. “They do not control the investment of these assets, which are under the control and overall management of a trustee.”
The trustee is Brad Malt, at the Boston office of the law firm Ropes & Gray.
Romney’s stocks were sold in a wide range of companies, including Apple, Boeing, Google, and McDonalds. He also sold stock in Wal-Mart de Mexico, which is under investigation for bribing officials in Mexico, and in British Sky Broadcasting, the company that Rupert Murdoch had sought to buy before his company was ensnared in a British phone hacking scandal.Matt Viser can be reached at email@example.com.