[cnn-photo-caption image= http://i.l.cnn.net/cnn/2008/images/02/01/art.romneymoney.ap.jpg caption=" Romney loaned himself $18 million last quarter."]SAN DIEGO, California (CNN) – Less than two hours before the 2007 fourth quarter financial filings deadline, the Romney campaign announced it had raised over $27 million. But 18 of the $27 million was loaned by Mitt Romney to the campaign, meaning that just $9 million of it was raised.
To date, Romney has contributed over $35 million of his own money to his campaign, more than half of that in the fourth quarter of 2007 alone. Before becoming governor of Massachusetts, Romney was a successful venture capitalist who amassed an estimated $250 million fortune at the helm of his company, Bain Capital.
The $27 million brings Romney's total for 2007 to $90.1 million, far outpacing main rival John McCain's $42.1 million.
Romney has almost certainly spent more than $35 million of his own money so far. The campaign has bought significant amounts of advertising time in 2008, including an estimated $2-3 million for Super Tuesday states.
In comparison, The Wall Street Journal recently reported that Steve Forbes spent $76 million of his own money on two failed attempts for the Republican nomination and Ross Perot doled out $71 million for two of his own bids.
After losing the Florida primary, Romney joked to the crowd at his primary party that his five sons wouldn't have much of an inheritance left once the campaign is over. Romney has long said that he and wife Ann have set a limit for how much they would spend, but won't reveal the number.
- CNN Political Producer Alexander Marquardt