Fact check: Who is Mitt Romney?
Who is Mitt Romney?
Willard Mitt Romney is an American businessman and the Republican Party’s nominee for president of the United States in the 2012 election . He served as the 70th governor of Massachusetts from 2003 to 2007.
Mitt was born on March 12, 1947, and is the youngest child of automobile executive George W Romney. His mother, Lenore Romney, was a homemaker.
Early political beginning
In 1962, he participated in his father’s successful Michigan gubernatorial campaign and later worked with him as an intern in the Governor’s office. He graduated in 1975 from the then newly created joint Juris Doctor/Master of Business Administration four-year programme started together by Harvard Law School and Harvard Business School.
In 1977, after having worked for Boston Consulting Group, he joined Bain & Company, a management consulting firm in Boston. By 1978, he had become a vice-president of the firm and worked with clients such as Monsanto, Outboard Marine Corporation and the firm considered him to be one of their best consultants.
His career chart rose quickly at Bain and he helped lead the company out of a financial crisis. In 1984, he cofounded and led the spin-off firm Bain Capital, a highly profitable private equity investment firm that became one of the largest of its kind. His considerable net worth, estimated in 2012 at $190â250 million, helped finance his prior political campaigns.
Entry into politics
After stepping down from Bain Capital, he ran as the Republican candidate in the 1994 Massachusetts election for the US Senate. However, he lost to longtime incumbent Ted Kennedy and resumed his position at Bain Capital.
In 2002, he ran for and won the 2002 gubernatorial election in Massachusetts. As governor, he helped develop and enact into law the Massachusetts health care reform legislation, which provided near-universal health insurance access through state-level subsidies and individual mandates to purchase insurance.
Romney did not seek re-election in 2006, instead decided to focus on his campaign for the Republican nomination in the 2008 US presidential election. He won several primaries and caucuses but lost the nomination to John McCain. In 2011, he began campaigning for the 2012 Republican presidential nomination, eventually winning enough caucuses and primaries to be nominated with his chosen running mate, Representative Paul Ryan. Romney faces incumbent President Barack Obama in the November 2012 presidential election.
Romney married Ann Davies and they have five children.