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.
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