Mitt Romney
United States Senator
| Date of Birth | : | 12 Mar, 1947 |
| Place of Birth | : | DMC Harper University Hospital, Detroit, Michigan, United States |
| Profession | : | Politician, Lawyer, Writer, Investor, Consultant, Ceitic |
| Nationality | : | American |
| Social Profiles | : |
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Willard Mitt Romney is an American politician, businessman, and lawyer who has served as a junior United States Senator from Utah since 2019. He served as the 70th governor of Massachusetts from 2003 to 2007 and was the Republican Party's nominee for president of the United States. in the 2012 elections, losing to Barack Obama.
Raised in Bloomfield Hills, Michigan, by George and Lenore Romney, he spent more than two years in France as a Mormon missionary. He married Ann Davies in 1969; They have five children. Active in the Church of Jesus Christ of Latter-day Saints (LDS Church) throughout his adult life, Romney served as bishop of his ward and later as stake president for an area that encompassed Boston and many of its suburbs. In 1971, he had participated in his parents' political campaigns. In 1971, Romney graduated with a Bachelor of Arts in English from Brigham Young University (BYU) and in 1975 he received a JD-MBA degree from Harvard. He became a management consultant and in 1977 joined Bain & Company in Boston. As Bain's chief executive officer (CEO), he helped lead the company out of a financial crisis. In 1984, he co-founded and led the spin-off company Bain Capital, a private equity investment firm that became one of the largest of its kind in the country.
Early life and education
Heritage and youth
Willard Mitt Romney was born on March 12, 1947, at Harper University Hospital in Detroit, Michigan, one of four children born to automobile executive George W. Romney and former actress and homemaker Lenore Romney (née LaFount). His mother was a native of Logan, Utah, and his father was born to American parents in a Mormon colony in Chihuahua, Mexico. Of primarily English descent, he also has Scottish and German ancestry. A fifth-generation member of the LDS Church, he is a great-grandson of Miles Park Romney and a great-great-grandson of Miles Romney, who converted to Mormonism in its first decade. Another great-great-grandfather, Parley P. Pratt, helped lead the early church
Romney has three older siblings: Margo, Jane, and Scott. Mitt was the youngest by nearly six years. His parents named him after a family friend, businessman J. Willard Marriott, and his father's cousin, Milton "Mitt" Romney, a former quarterback for the Chicago Bears. Romney was called "Billy" until kindergarten, when he expressed a preference for "Mitt". In 1953, the family moved from Detroit to the affluent suburb of Bloomfield Hills and his father became the chairman and CEO of American Motors the following year and helped the company avoid bankruptcy and return to profitability. By 1959, his father had become a nationally known figure in print and on television, and Mitt idolized him.
Business career
Management consulting
After receiving his JD–MBA from Harvard, Romney passed the Michigan bar exam but decided to pursue a career in business rather than law. He was recruited by several large companies but joined the Boston Consulting Group (BCG), reasoning that working as a management consultant for a variety of companies would better prepare him for a future position as a chief executive. Part of a 1970s wave of top graduates who chose to go into consulting rather than join a large company directly, he found his legal and business education useful in his job. He applied BCG principles such as the growth-share matrix, and executives viewed him as having a bright future there. At BCG, he was a colleague of Benjamin Netanyahu, with whom he formed a friendship that has lasted for more than 40 years.
In 1977, he was hired by Bain & Company, a management consulting firm in Boston formed a few years earlier by Bill Bain and several other ex-BCG employees. Bain later said of the 30-year-old Romney, "He had the appearance of confidence of a guy who was maybe ten years older." Unlike other consulting firms, which issued recommendations and then departed, Bain & Company immersed itself in a client's businesses and worked with them until changes were implemented. Romney became a vice president of the firm in 1978, working with such clients as the Monsanto Company, Outboard Marine Corporation, Burlington Industries, and Corning Incorporated. Within a few years, the firm considered him one of its best consultants. In fact, clients sometimes preferred to use him rather than more-senior partners.
Activity between presidential campaigns
Romney supported the Bush administration's Troubled Asset Relief Program in response to the late-2000s financial crisis, later saying that it prevented the U.S. financial system from collapsing. During the U.S. automotive industry crisis of 2008–2010, he opposed a bailout of the industry in the form of direct government intervention, and argued that a managed bankruptcy of struggling automobile companies should instead be accompanied by federal guarantees for post-bankruptcy financing from the private sector.
After the 2008 election, Romney laid the groundwork for a 2012 presidential campaign by using his Free and Strong America political action committee (PAC) to raise money for other Republican candidates and pay his existing political staff's salaries and consulting fees. A network of former staff and supporters around the nation were eager for him to run again. He continued to give speeches and raise funds for Republicans, but fearing overexposure, turned down many potential media appearances. He also spoke before business, educational, and motivational groups. From 2009 to 2011, he served on the board of directors of Marriott International, founded by his namesake J. Willard Marriott. He had previously served on it from 1993 to 2002.
Subsequent activities
During the first year after his defeat, Romney generally kept a low profile, with his ordinary daily activities around San Diego captured via social media glimpses. In December 2012, he joined the board of Marriott International for a third stint as a director. In March 2013, Romney gave a reflective interview on Fox News Sunday, saying, "It kills me not to be there, not to be in the White House doing what needs to be done." He again expressed regret at the "47 percent" remark, saying "There's no question that hurt and did real damage to my campaign."(He echoed both those sentiments a year later.) Romney began working as executive partner group chairman for Solamere Capital, a private capital firm in Boston owned by his son Tagg. He was also involved in supporting several charitable causes.
The Romneys bought a home in the Deer Valley area of Park City, Utah, and a property in Holladay, Utah, where they planned to tear down an existing house and build a new one. They also gained long-sought permission to replace their La Jolla home with a much bigger one, including a car elevator that had brought some derision during the 2012 campaign. Romney and his siblings continued to own a cottage in a gated community called Beach O' Pines south of Grand Bend, Ontario, which has been in the family for more than 60 years. With the new acquisitions the couple briefly had five homes, near each of their five sons and their families, and the couple continued to spend considerable time with their grandchildren, who by 2013 numbered 22. They then sold the condominium in Belmont and decided to make their main residence in Utah, switching their voter registration. The 2014 documentary film Mitt showed a behind-the-scenes, family-based perspective on both of Romney's presidential campaigns and received positive reviews for humanizing Romney and illustrating the toll campaigning takes.
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