Willard Mitt Romney (born March 12, 1947), better known as Mitt Romney, is an American businessman and politician who served as the 70th Governor of Massachusetts from 2003 to 2007 and was the Republican Party's nominee for President of the United States in the 2012 election.
Raised in Bloomfield Hills, Michigan, by his parents, George and Lenore Romney, he spent 2.5 years in France as a Mormon missionary, starting in 1966.
Active in The Church of Jesus Christ of Latter-day Saints (LDS Church), he served during his business career as the bishop of his ward (head of his local congregation) and then stake president in his home area near Boston. Upon losing to longtime incumbent Ted Kennedy, he resumed his position at Bain Capital.
After stepping down from Bain Capital and his local leadership role in the LDS Church, Romney ran as the Republican candidate in the 1994 Massachusetts election for U. Years later, a successful stint as President and CEO of the Salt Lake Organizing Committee for the 2002 Winter Olympics led to a relaunch of his political career.
Elected Governor of Massachusetts in 2002, Romney helped develop and enact into law the Massachusetts health care reform legislation, the first of its kind in the nation, which provided near-universal health insurance access through state-level subsidies and individual mandates to purchase insurance.
He also presided over the elimination of a projected $1.2–1.5 billion deficit through a combination of spending cuts, increased fees, and the closure of corporate tax loopholes. He won several primaries and caucuses; however, he lost to the eventual nominee, Senator John Mc Cain.
He did not seek re-election in 2006, instead focusing on his campaign for the Republican nomination in the 2008 U. His considerable net worth, estimated in 2012 at $190–250 million, helped finance his political campaigns prior to 2012.
Following his term as Governor of Massachusetts in 2007, Romney was the Republican Party's nominee for President of the United States in the 2012 election.
He won the 2012 Republican presidential nomination, becoming the first Mormon to be a major party presidential nominee.
In 1971, he earned a Bachelor of Arts at Brigham Young University, Provo, Utah, and in 1975, he earned a joint Juris Doctor and Master of Business Administration at Harvard University, Cambridge, Massachusetts.
Romney entered the management consulting industry, and in 1977 secured a position at Bain & Company.