Romney Dumped $35 Million Into Campaign

Republican presidential candidate Mitt Romney loaned his campaign a total of more than $35 million in 2007, according to the most recent filings of campaign finance reports.

In the past quarter alone, the former Massachusetts governor pumped $18 million of his own wealth to financing his candidacy. That personal contribution helped bolster his fourth quarter fundraising total to $27 million, well beyond the $6.8 million raised by his competitor and GOP frontrunner, Sen. John McCain. The figures, it should be noted, were tallied at the end of December when the political dynamics were very much different.

Nevertheless, the scope of Romney's personal wealth and the extent of his self-financing have become recent fodder on the campaign trail. In a recent debate, the Massachusetts Republican declined to reveal just how much money he was giving his campaign. Though he has been willing to flaunt his campaign wealth as evidence that he remains a viable White House contender.

"I have authorized a seven-figure -- I won't give you the exact number -- but a seven-figure advertising buy for our campaign," Romney told the Washington Post. "But frankly, at this stage, I don't think anyone will be advertising on a per-person basis the level we did in Iowa, New Hampshire, Michigan and Florida."

Romney, the former CEO of the private equity firm Bain Capital, is said to be worth $250 million. The $35 million he has used on his presidential campaign does not include what he lent himself during the month of January. That amount -- should Romney stick to his self-financing pattern -- should push the total figure for personal wealth spent over the $40 million mark.

See who is bankrolling the 2008 Presidential election. Search by name or street address to see the cash donations and political leanings of your boss, neighbors, relatives, friends, and favorite celebrities with Huffington Post's FundRace.

Comments

[outmost1]

03:11 PM on 02/01/2008

Shouldn't the headline include "so far"?

[robbor]

01:02 PM on 02/01/2008

the question is, how poor does mitt want to become?

[RedRooster]

01:01 PM on 02/01/2008

Make

Him

Spend

It

All.

[antiparanoid]

01:00 PM on 02/01/2008

Every time he says "if you will" it occurs to me that I won't.

[Valleyviewer]

12:46 PM on 02/01/2008

Romney "loaned" his campaign money? Does that mean he can pay himself back if he raises enough money? With the religious right imploding, Coulter, Rover, Limbaugh going after McCain it seems the Repubs should be going back to Goldwater style governing, small govn't, lower taxes, - I don't agree with everything but we can't go back to the future with the Clinton's. In a McCain - Hillary matchup, she will lose. Obama has the best chance against McCain.

[ResistanceisFutile]

12:46 PM on 02/01/2008

Rommney is a business man. He isn't looking for a paltry ten percent return on his investment.

What do you think he wants to steal from the American Public?

[outnow]

11:49 AM on 02/01/2008

If Mitt Romney drops out of the race we should all call for his children to fight in Iraq because they will no longer have the excuse that they are working on his campaign.

Mitt proves that making money in and of itself does not make you a better person, nor does it prove that you are even a worthwhile person.

[loki]

11:45 AM on 02/01/2008

Just wait and see what he does if cut loose with OPM. He will be spending like a drunken sailor on shore leave. No, scratch that, make that , he will be spending like a drunken republican.

[SeaOats]

11:41 AM on 02/01/2008

Fool. Money.
Soon. Parted.

[Independent voter]

11:32 AM on 02/01/2008

So what. It's his money.

[ArjenBoatsma]

11:26 AM on 02/01/2008

I wished Bill Gates would invest about 15% of his net-worth into buying the presidency. He'd get it for sure with that kind of money.

And btw, in his post-Microsoft career, Bill Gates has done a lot of good. A man with Bill's brain and heart would be such a better president than Romney could ever hope to be.

[BushBites]

11:24 AM on 02/01/2008

The phrase "more money than sense" comes to mind.

[lochnessmonster]

11:08 AM on 02/01/2008

It's his money and he can blow it however he wants...I just wonder if those five fine young boys of his are worrying if they'll have an inheritance or not. They may actually have to get a job instead of serving the country trying to get dad elected.

[dantanna]

11:08 AM on 02/01/2008

mccain and romney the price the republicans have to pay for going out of their way to screw the country and to try to shove their so called "religion and moral" agente up our ears. and btw this is not to say that democrats are any different.

[Tankan]

11:05 AM on 02/01/2008

He put his money where his mouth was!

Can't fault the guy for that!