February 1st, 2008
08:15 AM ET
13 years ago

Romney 'raises' $27 million in fourth quarter

[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

Filed under: Mitt Romney
soundoff (13 Responses)
  1. David. B

    An absolute waste of money.

    February 1, 2008 05:36 am at 5:36 am |
  2. Ruth

    What a waste of money.

    February 1, 2008 05:54 am at 5:54 am |
  3. Gary

    Mitt Romney's campaign owes the candidate 35 million dollars

    John McCain's campaign is now in debt.

    Mike Huckabee is just about completely tapped out of funds.

    Ron Paul still has millions of dollars in the bank.

    Sorry i forgot corporate media isn't allowed to mention Ron Paul being the largest fund raiser in the 4th quarter with over 20 million dollars plus from ordinairy Americans.

    February 1, 2008 09:28 am at 9:28 am |
  4. eraer

    The power people are backing McCain, but the Republicans holding on to the heart and soul of the party are supporting Romney.

    Huckabee is staying in to help his buddy McCain. Huckabee is dividing the religous vote, which is helping McCain to skim by to a 1st place finish in each election right ahead of Romney.

    If McCain wins expect some Republicans to stay home.

    February 1, 2008 10:44 am at 10:44 am |
  5. Viola

    It must be nice to waste 90 million dollars on a failed attempt at the presidency.

    February 1, 2008 10:46 am at 10:46 am |
  6. Evan, Roseburg OR

    well, when you have hundreds of millions of dollars, what else are you going to spend it on?

    February 1, 2008 10:53 am at 10:53 am |
  7. cade

    Here is a man that is investing his hard earned money into this country, to try and save us from a McCain – Giuliani ticket that would undoubtley be trumped by a Obama – Clinton ticket. Why aren't we supporting the only legitimate Consertative Candidate that has run a Government? McCain is nothing but a bitter old man with connections and a distinguished military career that talks about straight talk then uses underhanded tatics. Does that make him the best candidate? Romeny will help restore the values in this country that has made us the true super power on this earth. Romeny '08!!!!

    February 1, 2008 10:55 am at 10:55 am |
  8. Mary

    The only reason why you guy are calling this a waste of money is because of his religion.

    February 1, 2008 10:56 am at 10:56 am |
  9. WMW

    I will be voting for Ron Paul all the way to the very end!

    For those without backbone and go with whoever the media and establishment tell them they will have to pick from MCCain or Romney I guess or as we say when a liberal is running against a conservative (be they neo-con or not) pick the least of the two evils.

    Romney is definitely no friend of Confederate Americans and McCain is not either but Romney might just have a little more sense about the economy than McCain!

    February 1, 2008 10:56 am at 10:56 am |
  10. Sean

    Shamelessly trying to buy the nomination; this guy would be nowhere without his checkbook.

    February 1, 2008 10:56 am at 10:56 am |
  11. Kurt


    This guy would not have a checkbook w/o his brains. Ever think of that?

    Hands down the smartest candidate in the last 4 presidential elections.

    February 1, 2008 04:57 pm at 4:57 pm |
  12. Darren

    If Romney would have given me that $18 million instead of himself, I guarantee I'd have a more successful ticket than he does. Seriously, do we need to have that kind of money to run for president? I hope not.

    February 1, 2008 05:32 pm at 5:32 pm |
  13. Voter

    If I could I'd spend my money to try and save this country. Why is it so bad that a rich guy does it?

    At least he is giving the voters one last chance.

    February 1, 2008 05:44 pm at 5:44 pm |