Republican presidential hopeful Mitt Romney divested from companies doing business in Iran, but he still holds stock in an oil company that does business in Sudan -- where the government is accused of sponsoring genocide -- his financial disclosure report filed Monday shows.
Romney, the wealthiest presidential contender, is worth $190 million to $250 million, with investments spread among stocks, treasuries and high-end funds. R. Bradford Malt, Romney's attorney, acts as sole trustee of what until Monday was a blind trust, and makes investment decisions.
Romney trails in national polls but is doing well in the polls in the early voting states.
His wealth is key to his candidacy. As he did when he successfully ran for Massachusetts governor in 2002, he is dipping into his accounts. He has lent his presidential campaign more than $9 million.
Romney first filed a financial disclosure when he unsuccessfully ran for U.S. Senate in 1994. The Boston Herald then reported that he had assets of $16 million to $25 million.
In a telephone news conference, Malt said Monday that he became more attentive to Romney's holdings once Romney began running for president. The financial disclosure, which covers 2006 and the first half of 2007, shows that Malt sold stock in dozens of companies in recent months.
For example, after Romney publicly called for divestment from companies doing business in Iran, Malt sold stock in some such companies, such as the Italian oil company Eni S.P.A.
According to the report, Romney holds stock in China Petroleum and Chemical (also known as SinoPec), an oil supply company that has dealings in Sudan, according to an organization dedicated to ending the genocide in the African nation's Darfur region.
President Bush has denounced the killings of tens of thousands of civilians in Darfur and declared that genocide is being committed. California and early-voting Iowa are among the states where officials have urged divestment.
Romney's stock in the company is valued at $50,000 to $100,000, and generated income of no more than $15,000 -- a tiny fraction of his portfolio. (The federal reports give ranges rather than specific values of holdings.)
The Washington-based Genocide Intervention Network has said the Chinese company has major operations in Sudan and is one of the companies from which people should divest if they are concerned about genocide in Darfur.
