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

***Live Updates*** George Floyd Protests Continue

***Live Updates*** George Floyd Protests Continue

George Floyd Protests Continue on Saturday. Stay tuned to Breitbart News for live updates. All times eastern. — 7:59 PM: Paul Ryan and John Boehner won’t say if they’ll vote for Trump in November. George W. Bush has already decided he won’t support him, say those familiar with his thinking. https://t.co/V7wUZB9kLS — Aman Batheja (@amanbatheja) June… … Read More

Mayor Frey Asks Trump for Help After Rioters Cause Millions in Damage

Mayor Frey Asks Trump for Help After Rioters Cause Millions in Damage

Mayor Jacob Frey (D) is seeking federal aid to help Minneapolis recover from the protests and riots that have wrecked the area. “With at least $55 million in estimated damage and far more to come, Minneapolis will need state and federal aid as it attempts to rebuild hundreds of structures after the riots following George… … Read More

Bernie Sanders’ Adviser: D-Day Largest Antifa Operation in History

Bernie Sanders’ Adviser: D-Day Largest Antifa Operation in History

Matt Duss, foreign policy adviser to Sen. Bernie Sanders (I-VT), commemorated the 76th anniversary of D-Day by describing it as the “largest Antifa operation in history.” Duss seemingly attempted to legitimize Antifa, the so-called anti-fascist group behind much of the political violence erupting at protests across U.S. cities, by equating it to the courageous Allied… … Read More

FOLLOW

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