If Republican Mitt Romney wins his race for the U.S. Senate, his government salary would be $174,000 a year — less than he’s earned lately in fees for a couple of speeches.
In fact, he gave eight speeches last year that fetched more than $100,000 each, and he pocketed honorariums totaling more than $1.4 million (and another $127,000 went directly to charity). Groups that paid his high fees ranged from Deutsche Bank in London to TD Ameritrade in Omaha and NBC Universal Media in New York City.
Analysis of personal financial disclosure forms released Friday shows that Romney and his wife, Ann, had a total income last year from all sources somewhere between $9 million and $31 million.
The amount is so ambiguous because Senate forms only require officeholders and candidates to disclose investment income within wide ranges. Romney’s campaign said the former GOP presidential nominee plans to release his income tax forms after they are filed, which may provide a clearer picture of his earnings.
Salt Lake County Council member Jenny Wilson — the front-runner among Democrats in the Senate race — earlier reported an income of $73,160 over an 18-month period ending last year. It did not include her husband’s income, which she said Senate forms did not require.
The net worth of Romney’s financial assets, according to an analysis of his disclosures, is somewhere between $73.7 million and $271 million — perhaps much more because some assets were valued simply as “over $1 million.” Also such things as homes and cars are not included in disclosures.
That hasn’t changed much since his last presidential run in 2012, when his estimated net worth was between $83 million and $255 million, according to Politico. The news organization at that time said his campaign narrowed his net worth range to between $190 million and $250 million.
The net worth of Wilson’s financial assets was somewhere between $900,000 and $2 million.
Wilson took the opportunity to argue that Romney’s wealth may mean that he is out of touch with regular Utahns.
“Voting in people who actually reflect America is an important objective,” Wilson said. “We see a Senate that is comprised mainly of middle-aged white men, and it’s been a boy’s club for too long. Romney represents more of that.”
She added, “If you’re not used to paying a mortgage, trying to figure out how to manage vacations and how to balance the bottom line in your budget, you’re not going to be as sensitive and really understand what’s going on with workers and families in our state.”
Romney spokeswoman MJ Henshaw declined comment on the issue.
Forms listed more than 950 financial accounts and assets for Romney and his wife. His investments are highly diversified, with accounts holding stocks in companies ranging from Disney to Microsoft, Time Warner and the Royal Caribbean cruise line. Perhaps unusual for a high-profile Mormons, the Romneys had investments valued between $16,000 and $75,000 in the Wynn Resorts hotels and casinos based in Las Vegas.
Besides Romney’s $1.4 million in speech fees, he received just over $2 million in earned and non-investment income — including a $1.67 million distribution from an IRA account, a $220,000 fee as a director of Solamere Capital in Boston and a $131,000 fee as a director of Marriott International.
Income from investments ranged between $5.6 million and $27.6 million.
Romney and his wife listed financial assets valued between $76 million and $272.8 million. They also listed liabilities between $1.5 million and $2.35 million.