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Mitt Romney discloses net worth

Republican presidential candidate Mitt Romney is worth between $190 million and $250 million, his campaign has announced.

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Republican presidential candidate Mitt Romney is worth between $190 million and $250 million, his campaign has announced. Romney submitted personal financial reports to the Federal Election Commission on Friday as required by the FEC and the U.S. Office of Government Ethics.

Although the former Massachusetts governor recently quipped that he was “unemployed,” his financial reports show that he earned more than $362,000 in speaking fees over the past 18 months, USA Today reports. Organizations that hired him included Barclays Bank (paying $42,500 for an appearance in Washington, D.C.), the International Franchise Association ($68,000 on Feb. 16, 2011), Goldentree Asset Management of New York ($68,000 on Nov. 4, 2010) and HP Healthcare Services ($32,831.25 on May 25, 2010).

In addition, Marriott International paid him about $114,000 to serve on its board during the during the period covered by the report, according to the Los Angeles Times.

Romney also collected between $100,001 and $1 million in royalties from the sales of his 2010 book, “No Apology: The Case for American Greatness,” but he said he donated that money to six charities.

Romney is by far the wealthiest candidate in the 2012 presidential race.

In comparison, the AP notes, Obama reported assets last May worth $2.2 million to $7.5 million, his net worth pumped up by royalties from the books "Dreams From My Father" and "Audacity of Hope." As far as Romney’s rivals for GOP presidential candidate go, Minnesota Gov. Tim Pawlenty earned about $120,000 a year in salary as governor and has outstanding credit lines on his suburban home. Minnesota Rep. Michele Bachmann has a net worth of $500,000 to $1 million, according to 2010 House financial disclosure records. And Texas Gov. Rick Perry has disclosed two blind trusts worth more than $50,000 combined, though some estimate his net worth to be closer to $1 million.

Romney put $35 million of his own money into his 2008 presidential campaign, which ran up bills totaling $123.9 million. But in 2012, personal wealth may not make as much of a difference to candidates, the AP suggests:

The financial assets wielded by presidential candidates may matter less this time around, thanks in part to the 2010 Supreme Court ruling known as "Citizens United."

The court ruling overturned a ban on corporate spending in federal elections. In turn, big-money donors this election cycle have already given millions to outside political committees -- known as super PACs -- in support of candidates.

On the other hand, Romney appears to have a golden touch with fundraising as well, having attracted more super PAC money so far this year than any of his GOP rivals. The pro-Romney Restore Our Future collected more than $12 million during the first six months of 2011, FEC records show, including a $1 million donation from a company that only existed for three months, W Spann LLC.

(More from GlobalPost: Mysterious company gives Mitt Romney's campaign $1 million)

Last week, Edward Conard, an investor and a former co-worker of Romney’s at Bain Capital, admitted he was the donor behind the shell company, adding he had consulted with lawyers who told him that preserving his anonymity in that way was legal, Reuters reports.

http://www.globalpost.com/dispatch/news/regions/americas/united-states/110812/mitt-romney-discloses-net-worth-fec-campaign