Mitt Romney, Newt Gingrich Richest Candidates for President
With the withdrawal of Rick Perry from the 2012 Presidential race, there are now four candidates vying for the Republican nomination.
They are: Mitt Romney, Ron Paul, Rick Santorum and Newt Gingrich.
One of these four men will win the Republican nomination and do battle with Barack Obama in the fall of 2012.
I thought that it would be interesting to look at how much each of the remaining Republicans is worth, as well as Barack Obama and Joe Biden.
Mitt Romney, Net Worth $80.8 million - $257.8 million
Mitt Romney is, by far, the richest of the Republican Presidential candidates. Romney has a myriad of different investments, held in both his name and blind trusts. Romney has money invested in various high-profile hedge funds and owns a number of structured notes. Romney's investments did very well for him in 2010, as he earned somewhere between $9.6 and $43.1 million, most of which came from his investments.
Newt Gingrich, Net Worth $6.13 million - $30.12 million
Gingrich's largest asset is a convertible promissory note from the Gingrich Group, LLC to Gingrich Productions, Inc. According to his filing, this promissory note is valued at between $5 million and $25 million.
Gingrich also owns positions in a number of private companies through the Draper Fisher Jurvetson Fund VIII. Some of these companies include Meebo and Box.net.
Ron Paul, Net Worth $1.92 million - $5.19 million
Ron Paul doesn't just talk it - he lives it as well.
Paul, who is extremely worried about the long-term health of the US economy, has put his money where his mouth is.
Paul, who is constantly warning that the United States is due for massive inflation, has the bulk of his wealth tied up in gold companies, including Goldcorp, Iamgold and Newmont Mining Corp.
Rick Santorum, Net Worth $91,073 - $2.62 million
Santorum owns a number of rental properties (5) that are all worth between $100,000 and $250,000. Santorum currently has mortgages on these properties of between $350,001 and $750,000 (cumulatively).
Much of Santorum's net worth is in his rental properties and IRA accounts. In addition, Santorum has between $50k and $100k sitting in a checking account at PNC Bank.
Now let's take a look at Obama and Biden:
Barack Obama, Net Worth $2.8 million to $11.83 million
Obama has the bulk of his net worth tied up in US Treasury securities, including Treasury bills and notes. The Obamas also have multiple checking accounts and 529 Plans for their kids.
Joe Biden, Net Worth -$258,970 to $718,994
Biden has the majority of his net worth tied up in a rental property (Wilmington, DE) and two Certificates of Deposit.
Biden had multiple liabilities listed on his disclosure, including a Home Equity Line of Credit of between $100,001 and $250,000.
Filed under: General Knowledge