Mitt Romney is an American businessman and politician who has been serving as the U.S. Senator from Utah since January 2019. A member of the Republican Party, Romney gained prominence as the co-founder of the private equity firm Bain Capital and as the CEO of the 2002 Salt Lake City Olympic Games Organizing Committee. Romney served as the 70th Governor of Massachusetts from 2003 to 2007, where he implemented the Massachusetts health care reform, which later served as a model for the [[Affordable Care Act (ACA)]]. In 2012, he was the [Republican](https://doctorparadox.net/the-gop-is-3-cults-in-a-trenchcoat/) nominee for President of the United States, but lost to incumbent President [[Barack Obama]]. Throughout his political career, Romney has been known for his moderate stances and pragmatic approach to governance, often advocating for bipartisanship and collaboration across party lines. ## Early life Willard Mitt Romney, born on March 12, 1947, in Detroit, Michigan, is the son of George W. Romney, former governor of Michigan and CEO of American Motors Corporation, and Lenore Romney, a former U.S. [[Senate]] candidate. Raised in Bloomfield Hills, Michigan, he spent much of his childhood surrounded by politics and business. He attended Cranbrook Schools and later pursued his undergraduate studies at Stanford University. However, after just one year, Romney left to serve as a missionary in France for the Church of Jesus Christ of Latter-Day Saints. Upon his return, Romney transferred to Brigham Young University (BYU), where he received a Bachelor of Arts in English in 1971. He later earned dual degrees from Harvard, a Juris Doctor from Harvard Law School and a Master of Business Administration from Harvard Business School, in 1975. ## Business career After completing his education, Romney began a successful career in the world of business. In 1977, he joined Bain & Company, a management consulting firm, eventually serving as its Vice President. In 1984, he co-founded Bain Capital, a private equity investment firm, which he led as CEO until 1999. Under his leadership, the firm became one of the most successful in the country, investing in and restructuring numerous companies. Nevertheless, the firm has faced criticism over the years for its business practices, which some argue prioritize profits at the expense of workers and communities. Critics contend that Bain Capital has engaged in leveraged buyouts that often result in job losses, reduced benefits, and wage stagnation for employees, as the firm seeks to cut costs and streamline operations to increase profitability. Additionally, critics argue that the firm's approach to debt financing can leave acquired companies with unsustainable debt burdens, sometimes leading to [[bankruptcy]] and further job losses. While supporters of private equity firms like Bain Capital maintain that their practices promote efficiency and competitiveness, critics assert that these firms prioritize short-term gains for investors over the long-term well-being of the businesses they acquire and the employees they impact. ## Political career In 1994, Romney stepped into the political arena, challenging Democratic incumbent Edward M. Kennedy for his U.S. Senate seat in Massachusetts. Despite his loss, Romney continued to engage in public service, taking on the role of President and CEO of the Salt Lake Organizing Committee for the 2002 Winter Olympics. His leadership helped rescue the financially struggling event and restore its credibility after a bribery scandal. Romney's political aspirations were further realized in 2002 when he was elected as the 70th Governor of Massachusetts. Serving from 2003 to 2007, he implemented significant reforms, including the Massachusetts health care reform known as "Romneycare," which later served as a model for the [[Affordable Care Act (ACA)]], or "Obamacare." However, his tenure as governor was also marked by opposition from Democrats, with whom he often clashed over policies and spending. ### Presidential campaigns Romney pursued the Republican nomination for President in 2008, but ultimately lost to Senator John McCain. Undeterred, he tried again in 2012, winning the Republican nomination but losing the general election to incumbent President Barack Obama. ### U.S. Senate In 2018, Romney returned to politics as a candidate for the U.S. [[Senate]], representing the state of Utah. He was elected and took office in January 2019. As a Senator, Romney has often taken a moderate stance, at times breaking with his party on key issues, including his vote to convict President [[Donald Trump]] during his first impeachment trial in 2020.