Mitt Romney is a businessman and politician who served as the 70th Governor of Massachusetts from 2003 to 2007. Mitt Romney was the Republican Party’s nominee for President of the United States in the 2012 election.
Mitt Romney entered the management consulting industry and in 1977 Mitt Romney secured a position at Bain & Company. Later serving as its chief executive officer, he helped lead the company out of financial crisis. In 1984, Mitt Romney cofounded and led the spin-off company Bain Capital, a highly profitable private equity investment firm that became one of the largest of its kind in the nation. Mitt Romney’s considerable net worth, estimated in 2012 at $190–250 million, helped finance his prior political campaigns.
After stepping down from Bain Capital, Mitt Romney ran as the Republican candidate in the 1994 Massachusetts election for U.S. Senate. Upon losing to longtime incumbent Ted Kennedy, he resumed his position at Bain Capital. Years later, a successful stint as President and CEO of the Salt Lake Organizing Committee for the 2002 Winter Olympics led to a relaunch of his political career.
In 2011, Mitt Romney began campaigning for the 2012 Republican presidential nomination, eventually winning enough caucuses and primaries to be nominated with his chosen running mate, Representative Paul Ryan. In doing so, Romney became the first Mormon to be a major party presidential nominee. Mitt Romney was defeated by incumbent President Barack Obama in the November 2012 general election.
How Mitt Romney Made His Money – Business and Politics
Estimated Net Worth: $250 Million
Birthday: March 12, 1947
[image via Gage Skidmore]