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Mutual Funds and ETFs: +$23 million
While Romney does not hold many stocks directly, he does take advantage of mutual funds and ETFs to maintain equity exposure at home and overseas with ETFs covering US, European and Latin American markets. Among his top holdings are an S&P 500 ETF, an S&P Europe 350 ETF, Goldman Sachs-managed mutual funds and SPDRs.
Real Estate: +$18 million
Summer camp: the Romneys combined 6 properties to create their Wolfeboro, NH compound, assessed at $8 million.
The Romneys own three properties now: a La Jolla, Calif. beach house that they bought for $12 million in 2008 but was reassessed last year at $8.7 million (a local agent thinks that even that figure is “pie in the sky” today), a townhouse condo in Belmont, Mass purchased for $895,000 in 2010 and an $8 million summer compound in Wolfeboro, N.H., on the shores of Lake Winnipesaukee, consisting of a main home, a converted stable and other land.
Cash: +$16 million
Since August Romney’s cash, including bank deposits, money market accounts and international currencies, has jumped $15 million from an estimated $1 million. In addition to United States dollars, Romney now holds small amounts of cash in Australian and Canadian dollars and British pounds.
J. Willard Marriott, Romney's namesake.
Individual Equities: +$600,000
Sources told Forbes that over the past nine months Romney has dumped 71 stocks and ADRs worth an estimated $6 million, including McDonald’s, Google, Apple, JPMorgan and Walmex. He holds just three individual stocks today: Marriott International, Marriott Vacations Worldwide and Ford Motor. Romney has long ties to Marriott and the company’s founding family, fellow Mormons: he was named after the chain’s founder, J. Willard Marriott, a friend of his father’s, and served on the Marriott board for more than a decade, departing in January 2011 ahead of his presidential bid. Ties to Ford? The son of an auto executive, he owns a 2005 Ford Mustang.
The Romneys' Oldenburg mare, Rafalca.
Transportation: +$425,000
Romney owns horses through Rob Rom Enterprises, LLC, a Moorpark, Calif.-based entity that has a one-third stake in Rafalca, a 15-year-old Oldenburg mare that represented the U.S. in the Reem/Acra World Cup Final in the Netherlands in late April. Ann, who was diagnosed with multiple sclerosis in 1998, rides horses as a form of therapy. She and her husband reportedly ride such breeds as Austrian Warmbloods and Missouri Fox Trotters. Also counted are their four cars: a 2002 Chevy pickup, a 2005 Ford Mustang and two Cadillacs.
Gold: +$260,000
While the bulk of the Romneys’ investments are held in blind trusts, the couple owns a quarter of a million in gold directly.
Mitt Romney’s Total Wealth: $230 million
Methodology: Forbes analyzed 184 assets belonging to Romney to come up with a net worth. Assets that jumped to a higher bracket from one disclosure to the next were valued at the 25th percentile of the current range, while those that fell were valued at the 75th percentile of the current range. Assets that stayed within their bracket were appreciated at the market rate from their initial median value through May 14; benchmark indexes were used as proxies for nonmarketable assets. Real estate was valued based on current property values; for cars we used the values as assessed by the local assessor’s office.
Comments
(ME) Yay, a president that has a clue about finance :)
Here’s how it will play out though:
(MAJORITY OF US POPULATION) “We hate rich people because it isn’t fair that someone else earned more money than me.”
You think the country is in the condition its in because we have’nt had a president that understood finances. Boy are you setting yourself up for disappointment. Don’t forget the last president had an MBA.
We have a country that is in the condition it’s in because the majority of it’s citizens don’t understand finances or have basic common sense. They are more concerned with who’s on ‘The Bachelor’ or ‘Dancing With The Stars’ than the qualifications and true ideology of those who would lead them.
gvg70 — disagree I think the americans dont hate the rich. Maybe they are skeptical whether a rich person will really know how to alleviate the common man’s problems…
The American voters don’t mind if you earned your wealth yourself. But they don’t have much respect for those who only inherit it or marry it (like John Kerry).
Good for Mitt Romney!!! He started out on the ground floor, he worked hard, he worked smart, he obeyed the law, and he made himself a ton of money.
It’s still supposed to be OK to do that in this country, isn’t it?
If the goal is to rev up the US economy and create new jobs, for my money I want someone in the White House who’s proven that he knows what it takes to be successful in the private sector. He knows what business needs and what kinds of policies will prompt them to make the investments that lead to job creation.
On the other hand, giving a law professor and “community organizer” who’s never worked a day in the private sector in his entire life another four years to try and figure it out certainly doesn’t sound very smart to me.
Judging by the recent trends in the polls, it looks like more and more people across the country are starting to come to the same conclusion.
He didn’t do that…where do you get your information, nice fairy tale you got going there
He didn’t do what exactly? create jobs?
He didn’t start out on the ground floor, he inherited his money. He wasn’t broke growing up. That’s what Anon is talking about. Again, get your facts straight before you open you mouth and think you’re spewing the truth.
Right Dan. Ground floor. I guess you’ll say that about his 5 sons a generation from now with their 20 mil each trust fund. He’s a governor’s son(a rich governor). Nothing to be ashamed of, but it is a pretty good starting point, unlike the children of workers from factories that Bain closed down.
“If the goal is to rev up the US economy and create new jobs, for my money I want someone in the White House who’s proven that he knows what it takes to be successful in the private sector.”
Whats the correlation or precedent?
Mitt recently said that the US should be creating 500,000 jobs a month, that’s only happened 10 times since 1950.
Hey maybe Mittens can work his private sector magic and get the ball rolling.
Obeyed the Law?
Like in making profit from Bain after their secret law firm (MNAT) admitted to lying under oath to a Chief Federal justice more than 15 times – when MNAT put forth an erroneous Rule 2014 Affidavit and then sold its “Court” approved client assets (MNAT was eToys Debtor’s counsel) to its UNdisclosed client (conflict of interest extraordinary) of Bain/ Kay Bee.
Then REDUCED the price of eToys.com from $10 million to only $3 million.
You mean That Law abiding profit when Mitt was STILL CEO of Bain Capital?
Mitt Romney donated his share of his father’s estate to Brigham Young University, specifically to the Marriott School of Management’s Romney Institute of Public Management, named for Mitt’s father, George W. Romney. As such, virtually all of Romney’s wealth flows from his own career in consulting and private equity.
Proven how to be successful in the Private sector.
You mean how Bain’s Kay Bee CEO – Michael Glazer, paid himself and Bain to the tune of around $100 million and then filed Bankruptcy (more than once).
Where Bain’s law firm (MNAT) is representing Bain in that preferential transfer of “insider” payouts – while Bain’s other secret beneficial attorney Paul Traub (who worked for Stage Stores where Romney owned 800,000 shares and Michael Glazer was a director/ stockholder) –
as Traub asked to be the one to prosecute Bain & Glazer.
Sort of like JP’s Dimon asking for Sach’s Blankfein to be their prosecutor of JP Morgan Chase…
those time of legitimate Wealth creations?
Sheessshhh
Dear Luisa Kroll;
Can you explain why Forbes fails to report on how Goldman Sachs in essence sued Goldman Sachs in the NY Supreme Court case eToys v Goldman Sachs (case # 601805/2002)?
When we pointed out that MNAT – Goldman Sachs’s attorney in DE – hand picked Paul Traub’s firm to sue Goldman Sachs – when Paul Traub’s (secret) partner (Barry Gold) was illicity placed inside eToys as a post bankruptcy petition filing President & CEO of eToys and voted with MNAT to nominate Traub to sue Goldman SAchs.
Where the case was closed for Failure to prosecute
(as if Goldman SAchs REALLY wanted to prosecute itself and win)
and now is Entirely Under SEAL to hide all this stuff too?
Will your entity (Forbes) break this story?
Or just sit silent and Hope Mitt Romney gets in and owns the DOJ to continue the Cover Up?
And how much do you think he got in tax write offs for his ‘donations’? Look that up and give us some facts on that Mr. Forbes staffer…since you’re obviously working, do some more homework and get back to us.
I didn’t mean to imply that Romney’s wealth is only a reflection of inheritance, only that his life circumstances hardly equate to starting on the ground floor. I should also have replied to Dan that the richest guy running is not necessarily the best person to preside over a macroeconomy. Maybe we should have elected Vanderbilt and Ford(Henry) rather than Abe Lincoln and Teddy Roosevelt.
Tom,
Cornelius Vanderbilt and Henry Ford never ran for the office, though Ford did run for a Michigan Senate seat in 1918 (he was defeated in a controversial campaign by Truman Newberry). As for Teddy Roosevelt, he was fabulously wealthy. In fact, Forbes ranked Roosevelt the 6th richest president of all time back in 2010. Unlike Mr. Romney, however, Roosevelt’s wealth came primarily from inheritance and trust funds.
Don’t be a dodger Edwin, give us some facts on how much Mitt got back in tax write offs for his ‘donations’ of all his father’s wealth to his Mormon college.
Yes Romneys wealth flows from his own career in consulting and private equity that was most likely built upon his fathers Rolodex and political/corporate connections. I’m not begrudging Romney this, but when your father was a CEO of a car company and governor of a state your just going to have access to situations that the average person does not have.
Never worked a in the private sector a day in his life?
“In the late summer of 1983, future United States President Barack Obama interviewed for a job at Business International Corporation. He worked there for “little more than year.”[3] As a research associate in its financial services division, he edited Financing Foreign Operations, a global reference service, and wrote for Business International Money Report, a weekly financial newsletter.[4] His responsibilities included “interviewing business experts, researching trends in foreign exchange, following market developments. . . . He wrote about currency swaps and leverage leases. . . . Obama also helped write financial reports on Mexico and Brazil.[5]“
Edwin
I think you got me there. I can only resort to “TR was a friend of mine, and Mitt, you are no TR”.
Didn’t Berlusconi ran the Italian economy into the groud? Whatever he did, he did NOT make it better.
Edwin,
You work for Forbes and all, with all that focus on wealth. but THAT is not the most important difference between Roosevelt and mitt.
That would be the recognition by Roosevelt that the wealthy have a special obligation to the country: If you carry a big stick, walk softly. With big power come special obligation. Noblesse Oblige.
Romneys goals havent’ evolved beyond GREED is GOOD, or it must be GREED is GOOD just for the rich, not for the poor.
The,
The Roosevelt dictum to which you are referring is actually “speak softly and carry a big stick; you will go far.” It came to characterize our 26th president’s foreign policy philosophy: negotiate calmly and purposefully with the unspoken threat of overwhelming force.
As for noblesse oblige, click here to see our breakdown of Mitt Romney’s philanthropy.
Is that before he took it, invested, set himself up, made three times as much from it. Give me a break.
You give me 20 million, I take it and make 100 million. Then I donate it to charity. Can I claim that I gave the portion you gave me away.
You takes access and money to make money, plain and simple.
Yep, agreed Fernando, even the education base was probably assisted with money.
However, he was obviously taught the value of money and how to work with it from an early age, so thats where his wealth is. Money is just a bunch of figures and I think he’s commendable on still driving a 2002 pick up. Although, with no picks, maybe it’s not the old banger I’m thinking of.