Mitt Romney Profited $20K for Every American Laid Off via Bain Capital

Mitt Romney Profited $20K for Every American Laid Off via Bain Capital

Mitt Romney Profited $20K for Every American Laid Off via Bain Capital

Sen. Mitt Romney (R-UT), who supported convicting President Donald Trump in the Senate impeachment trial, profited thousands of dollars every time an American worker was laid off from their job after investments by his firm Bain Capital.

While head of Bain Capital between 1984 and 1999, Mitt Romney helped win giant profits for investors that ultimately left small and medium-sized American companies bankrupted and forced to lay off thousands of American workers.

According to a rough estimate by AOL Finance, conducted in 2012, Romney earned about $20,000 for every American worker who was laid off as a result of Bain Capital’s investments:

Romney himself profited handsomely from his time running Bain Capital. Although the exact details of his personal finances are not available, news reports estimate his net worth at somewhere between $190 and $250 million, much of it derived from his Bain Capital days. Very rough math might suggest that Romney made as much as $20,000 per job lost. [Emphasis added]

And today, Romney continues to rake in millions from Bain Capital, which is worth an estimated $105 billion. In 2011, the New York Times detailed Romney’s retirement package with Bain Capital, which he negotiated before leaving the investment firm.

From 2000 to 2009, Romney profited from Bain Capital’s “four global buyout funds and 18 other funds, more than twice as many overall as Mr. Romney had a share of the year he left,” according to the Times.

In 2011, Romney reported 12.4 million to $60.9 million worth of assets from Bain Capital, which translated to about $1.5 million to $9.3 million in income for him. Likewise, Ann Romney’s blind trust secured the couple at least another $4.1 million in income deriving from Bain Capital assets.

John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder

Read More

Share:

Share on facebook
Share on twitter
Share on linkedin

More News

Ann Coulter: Harpooning the Toxic Whale

Ann Coulter: Harpooning the Toxic Whale

You might not have heard — because Trump is still president, so MSNBC and CNN were required to give hair-on-fire coverage of some mundane action he’s taken this week — but on Monday, Harvey Weinstein was convicted of rape and a criminal sexual act. I have some random thoughts on the case and the whole… … Read More

Trump Campaign Sues New York Times for Libel over Russia ‘Conspiracy’

Trump Campaign Sues New York Times for Libel over Russia ‘Conspiracy’

President Donald Trump’s re-election campaign has sued the New York Times for libel regarding a 2019 op-ed, alleging that the establishment newspaper published false allegations with purpose of hurting the president’s chances of winning a second term. The re-election campaign alleges that the Times erroneously reported that the president had an agreement with “Vladimir Putin’s oligarchy”… … Read More

Joe Biden’s Campaign Walks Back Claim of Arrest on Trip to See Mandela

Joe Biden’s Campaign Walks Back Claim of Arrest on Trip to See Mandela

Former Vice President Joe Biden’s presidential campaign has backed away from the his claim that he was arrested while attempting to visit then-anti-apartheid leader Nelson Mandela during a congressional delegation trip to South Africa in the 1970s. “He was separated from his party at the airport,” Biden deputy campaign manager Kate Bedingfield told the New York… … Read More

Scalise: FISA Abusers Need to Be Held Accountable

Scalise: FISA Abusers Need to Be Held Accountable

In a Wednesday interview with Fox News Channel’s “America’s Newsroom,” House Minority Whip Rep. Steve Scalise (R-LA) emphasized the importance of holding anybody who abuses the FISA Court process accountable amid allegations of abuse during the Russia investigation and suggestions to reform the FISA process. Scalise argued that sending people to jail for abusing the… … Read More

FOLLOW

© Copyright 2020 | American Priority | Privacy Policy | Cookie Policy