Mitt Romney Net Worth 2023- Re-election 2024, Presidential Campaign, Office as Governor and Senator, and Impressive Business Career

Mitt Romney is an American politician currently serving as the US Senator from Utah and has previously served as the Governor of Massachusetts. Other than being a politician, Romney is also a successful businessman who has served in important roles in different companies, before co-founding one of his own. In 2023, Romney announced his retirement from the Senate after his term expiration in 2025. Owing to his business gains, Romney has earned a handsome net worth of around $300 million. Check out more details about Mitt Romney’s net worth in 2023 and other important information regarding the senator here from this article.

Mitt Romney Net Worth 2023

NameMitt Romney
ProfessionPolitician, businessman, lawyer
Political partyRepublican (1993 – present)
Net worth (as of 2023)$300 million (est.)

Mitt Romney’s Personal Biography

Mitt Romney was born on March 12, 1947, in Detroit, Michigan, to Lenore and George W. Romney. His father was a very successful former automobile executive and politician while his mother was a former actress and homemaker. Romney has three older siblings and he was the youngest of them. While attending Cranbrook School, Mitt participated in his father’s gubernatorial campaign and also worked as an intern in the governor’s office. Romney attended Stanford University but later moved to Utah and enrolled at Brigham Young University. He wanted to pursue a business career, but upon the advice of his father to have a degree in law, earned a JD-MBA degree from Harvard. Romney also passed the Michigan bar exam.

Romney started dating Ann Davies in the senior year of his school and the two got engaged after graduating high school. While still in university, Romney got married to Davies. The couple has five children together and they reside in Utah. Ann herself is an author and philanthropist.

Full nameWillard Mitt Romney
ProfessionPolitician, businessman, lawyer
Political partyRepublican (1993 – present) Independent (before 1993)
Years active (in office)Governor of Massachusetts (2003 – 2007) United States Senator from Utah (2019 – present)
AgeBorn on March 12, 1947
Place of birthDetroit, Michigan, US
EducationBrigham Young University (BA) Harvard University (JD–MBA)
Marital statusMarried
SpouseAnn Davies (1969 – present)
Place of residenceHolladay, Utah, US
ParentsLenore LaFount (mother) George W. Romney (father)

Professional Career of Mitt Romney

Business career

Despite having a law degree, Mitt Romney began his career in business. He joined the Boston Consulting Group (BCG) and started working as a management consultant for different companies. Mitt later joined another management consulting firm Bain & Company which was formed by previous BCG employees. He soon became a vice president of the firm within a year and was also one of its best consultants. Check Richest Lawyers in the World

Romney left the company in 1984 and founded spin-off private equity investment firm Bain Capital along with the founder of Bain & Company, Bill Bain. He took a leave of absence from the company in 1993 to run for US Senate and returned at the end of 1994. after spending around 20 years with Bain Capital, Romney separated from the firm in early 2002 and transferred his ownership to other partners.

Political career

In 1993, Romney attempted an entry into and challenged incumbent Democratic Senator Ted Kennedy for the 1994 United States Senate. Earlier an independent candidate, Romney became Republican in October 1993 and formally announced his candidacy in February 1994. Despite unfavorable chances, Kennedy won the election with 58% to 41% vote. Romney returned to work at his firm Bain Capital, but the loss hit him hard, and he decided to make a comeback only when he was strong enough to win the election.

In 2002, Romney declared his candidacy for Massachusetts gubernatorial election with no opposition in the primary. His opponent from the Democratic party was the State Treasurer of Massachusetts Shannon O’Brien. Romney won the election with 50% to 45% vote and was sworn in as the 70th governor in 2003. He took office in the middle of a financial year, and despite facing a major economic shortage in the first two years of his term, Rodney was able to turn a surplus during his last two years in office. Mitt held the Governor’s office till 2007.

Mitt launched his campaign for US Senator from Utah after incumbent Orrin Hatch announced his retirement in 2018. He defeated Kennedy in the primary election and again defeated the Democratic Jenny Wilson in the general election. Romney was selected as the Senator and with this he became the third person to serve as governor of one state and senator from another.

Other Roles

Romney was hired as the president and CEO for the Olympic and Paralympic Winter Games of 2002 by the Salt Lake Organizing Committee in 1999. He was chosen for his expertise in business and legal matters plus his connections to the LDS Church and the state as well. Romney had held several positions in the local lay clergy of the LDS church while he was in business.

Presidential Campaign 2008 & 2012

In 2007, Romney announced his candidacy for the Republican nomination for president. His successful business career and his position at the 2002 Olympics were the main points of Romney’s presidential campaign. However, to reach the further rounds, Romney needed to win the initial two contests in Iowa and New Hampshire but came second in both. He further fell behind John McCain in several states and lost to him before reaching the final stage.

Romney again announced his run for the Republican presidential nomination in 2011. he once again lost to his opposition Rick Santorum in the primary election in Iowa but was able to win in New Hampshire as well as Florida. After winning in further series of contents, Romney finally stood opposite Barack Obama in the presidential election. However, Obama the general election and became the President of the United States.

Mitt Romney on Social Media

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Frequently Asked Questions

What is the net worth of Mitt Romney in 2023?

$300 million (approx.)

Did Romney also run for the 2016 presidential election?

No, since many conservatives were looking for a fresh face with no previous losses, Romney didn’t run for the 2016 presidential election

Will Mitt Romney run for re-election to the Senate in 2024?


How long has Romney been serving in the US Senate?

Romney has been serving in the US Senate since 2019.

Is Mitt Romney the wealthiest member of Congress?

No, but he is definitely one of the richest members of the US Senate and Congress as well.

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