Mitt Romney would be one of richest-ever presidents with $250 million fortune
Mitt Romney will become one of the richest ever occupants of the White House if he wins the presidential election, after his campaign confirmed he was worth up to $250 million.
By Rosa Prince, New York 02 Jun 2012
The Republican candidate disclosed his net worth, around £163 million, in a financial declaration to the Federal Election Commission which provided new details of his personal fortune.
A campaign spokesman said the former Massachusetts Governor and his wife Ann had assets of between $190 million and $250 million. Experts claimed analysis of his holdings suggested his wealth was closer to the upper figure.
The candidate's exact net worth had been unclear until now, although it had been estimated in the $200 million to $250 million range after he disclosed that in 2010 he had paid taxes of $3 million (£1.9 million) on income of $21.7 million (£14 million). Because most of his wealth derived from capital gains, he was able to pay tax at a far lower rate than most Americans.
The records also show that Mr Romney sold off much of his overseas investments in the last year, including controversial holdings in the Chinese-owned companies Hang Lung and Komatsu, which have been criticised for doing business with Iran, and British Sky Broadcasting.
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