Willard Mitt Romney (born March 12, 1947) is an American businessman and
politician. He was the
70th Governor of Massachusetts from 2003 to 2007 and is a
candidate for the 2012 Republican Party presidential nomination.
Romney is the son of
George W. Romney (the former
Governor of Michigan) and
Lenore Romney. He was raised in
Bloomfield Hills, Michigan and then served as a
Mormon missionary in France. He received his undergraduate degree from
Brigham Young University, and thereafter earned
Juris Doctor/
Master of Business Administration joint degrees from
Harvard Law School and
Harvard Business School. Romney entered the
management consulting business which led to a position at
Bain & Company, eventually serving as its
CEO to lead it out of crisis. He was also co-founder and head of the spin-off company
Bain Capital, a
private equity investment firm which became highly profitable and one of the largest such firms in the nation, and the wealth Romney accumulated there would help fund all of his future political campaigns. He ran as the
Republican candidate in the
1994 U.S. Senate election in Massachusetts but lost to incumbent
Ted Kennedy. Romney organized and steered the
2002 Winter Olympics as President and
CEO of the
Salt Lake Organizing Committee, and helped turn the troubled Games into a financial success.
Romney won the
election for Governor of Massachusetts in 2002, but did not seek reelection in 2006. During his term, he presided over a series of spending cuts and increases in fees that eliminated a projected $3 billion deficit. He also signed into law the
Massachusetts health care reform legislation, which provided near-universal health insurance access via subsidies and state-level mandates and was the first of its kind in the nation. During the course of his political career, his positions or rhetorical emphasis have shifted more towards
American conservatism in several areas.
Romney ran for the
Republican nomination in the 2008 U.S. presidential election, winning several
caucus and primary contests, though he ultimately lost the nomination to
John McCain. In the following years he published
No Apology: The Case for American Greatness and gave speeches and raised campaign funds on behalf of fellow Republicans. On June 2, 2011, Romney announced that he would seek the 2012 Republican presidential nomination. Political observers and public opinion polls place him as a front-runner in the race.