Mitt Romney Made $68,000 Speaking To A Hedge Fund In 2010 -- And He Invests In A Lot Of Them Through Goldman Sachs

mitt romney

Photo: Courtesy of CBS

Some more interesting details from Mitt Romney’s 2010 tax return…Everyone (understandably) focuses on the fact that Romney made $22 million in 2010.

Just over half of that income came from capital gains ($12 million). Most of the rest of it came from “dividends” and interest. But some came from actual work.

The part that came from actual work totalled $643,000.

  • Some of that, $113,881, came from sitting on the board of Marriott International.
  • The rest of it, $528,871, came from speaking and writing fees.

Half of Romney’s speaking fees in 2010 were funneled through his agent, Sterling Lord, so we don’t know who he gave those speeches to.

The others, however, are listed separately:

  • Holtzbrinck Publishing
  • Riverside theatre
  • Claremont McKenna College
  • Get Motivated Seminars
  • HP Healthcare Services
  • Clark Consulting
  • Goldentree Asset Management

The last client, a huge fixed-income hedge fund run by Steve Tananbaum with $15 billion under management, paid Romney the most: $68,000.

Steve TananbaumSteve Tananbaum of Goldentree, a Romney client.

Photo: GoldenTree Asset Management

Interestingly, according to his tax return, Romney also has investments in a bunch of other hedge funds–through Goldman Sachs.Romney is invested in a couple of Goldman Sachs vehicles called “Goldman Sachs Hedge Fund Partners II” and “Goldman Sachs Hedge Fund Partners III,” which invest in hedge funds.

The hedge funds included:

  • Karsh Capital
  • Landsdowne
  • Maverick
  • Sonterra
  • Viking Global
  • Taconic

Romney likely doesn’t have any control over which funds Goldman Sachs invests in. He is also no doubt paying Goldman Sachs some monster fees (These “fund-of-funds” are very profitable. They’re also almost always a ripoff, because they add another big layer of fees on top of the already egregious hedge fund fees. Perhaps the Goldman funds have earned their fees–I don’t know.)

Anyway, interesting to get a peek at some of Romney’s clients and investments.

SEE ALSO: Mitt Romney Made $22 Million In 2010–And Paid $3 Million (14%) In Taxes

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