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Romney Worth As Much As $250 Million
Aug 13, 6:15 PM (ET)
By JIM KUHNHENN
WASHINGTON (AP) - Republican presidential candidate Mitt Romney's vast wealth is spread over a dizzying array of foreign and domestic investments that at times have been sold to avoid conflicts with his public stances, the trustee of his blind trust said Monday.
Among the investments sold by trustee R. Bradford Malt were holdings in companies known to have interests with Iran, including French and Italian oil companies. Romney earlier this year called for state pension systems to divest themselves of Iran-related stocks.
Romney and his wife, Ann, hold assets worth between $190 million and $250 million, his advisers said. The campaign released details of his wealth Monday in a personal financial disclosure report filed with the Federal Election Commission and the U.S. Office of Government Ethics. The value of assets in federal financial reports are listed in ranges, making a precise figure impossible to discern.
Romney reported that he and his wife have joint interest checking accounts with Bank of America of between $5 million and $25 million and a money market account between $1 million and $5 million. Both also have Individual Retirement Accounts. But the bulk of their money is in two blind trusts, which Malt said are divided evenly between husband and wife.
Blind trusts are designed to prevent public officials from controlling their investments, thus avoiding potential conflicts of interest. Under federal rules, the Romneys were not required to report a blind trust in the name of their children, which aides say is valued at about $100 million.
Romney is by far the wealthiest candidate in the presidential field. He has already pumped about $9 million into his campaign from his personal wealth. The report suggests he could easily tap that vein again.
http://apnews.myway.com/article/20070813/D8R0DGLO2.html
Aug 13, 6:15 PM (ET)
By JIM KUHNHENN
WASHINGTON (AP) - Republican presidential candidate Mitt Romney's vast wealth is spread over a dizzying array of foreign and domestic investments that at times have been sold to avoid conflicts with his public stances, the trustee of his blind trust said Monday.
Among the investments sold by trustee R. Bradford Malt were holdings in companies known to have interests with Iran, including French and Italian oil companies. Romney earlier this year called for state pension systems to divest themselves of Iran-related stocks.
Romney and his wife, Ann, hold assets worth between $190 million and $250 million, his advisers said. The campaign released details of his wealth Monday in a personal financial disclosure report filed with the Federal Election Commission and the U.S. Office of Government Ethics. The value of assets in federal financial reports are listed in ranges, making a precise figure impossible to discern.
Romney reported that he and his wife have joint interest checking accounts with Bank of America of between $5 million and $25 million and a money market account between $1 million and $5 million. Both also have Individual Retirement Accounts. But the bulk of their money is in two blind trusts, which Malt said are divided evenly between husband and wife.
Blind trusts are designed to prevent public officials from controlling their investments, thus avoiding potential conflicts of interest. Under federal rules, the Romneys were not required to report a blind trust in the name of their children, which aides say is valued at about $100 million.
Romney is by far the wealthiest candidate in the presidential field. He has already pumped about $9 million into his campaign from his personal wealth. The report suggests he could easily tap that vein again.
http://apnews.myway.com/article/20070813/D8R0DGLO2.html
