Is Romney’s son betraying his father for an investment?
The son of US presidential candidate Mitt Romney visited Moscow this week, writes The New York Times. One of the candidate’s five sons, Matthew Romney, allegedly was looking for Russian investors for his Excel Trust company, which owns shopping centers in the United States, and convinced that President Romney was not as tough on Russia as he said.
American media continues to entertain the world with the staging of “US presidential election.” According to The New York Times, in Moscow, the son of a presidential candidate probed the situation in the Russian capital and assured “people close to Putin who can retell their conversation to the president,” that his father, despite tough rhetoric in his election campaign, wants a good relationship with By Russia.
The publication reports that Matthew Romney is looking for investors in Russia for his trust, which allocates 90% of taxable income to dividends.
“There are great opportunities around the world: people are looking for where to invest their money,” says Greg Davis, vice president of Excel Trust. “Now all trips are of an overview nature, we are looking to see if the market exists, is it configured to invest in Excel.”
Excel Trust focuses on investment in retail real estate. Romney’s assets are $ 820 million, according to a report submitted to the US Securities and Exchange Commission on June 30. After graduating from Harvard Business School, Matthew Romney began his career at Excel Realty Holdings in 2003. Since 2009, he served as Senior Vice President of Capital Markets for Excel Trust.
Mitt Romney has repeatedly called Russia “the number one enemy” and, according to the old tradition of the Americans, criticized the current Democratic president, Barack Obama, for his lack of rigidity towards Moscow. Hawk rhetoric is characteristic of Romney, who in words even puts political interests above economic ones. So, during his first presidential election campaign, he told reporters that the manager of his “blind trust” is taking steps to “ensure that my investments match my political positions whenever possible.”
Probably the financial managers of Romney were able to calculate the political positions of their boss to the nearest percent. Since Romney invests a blind trust, not only not only in American companies, but also German Adidas and Volkswagen, as well as Japanese Toyota.
But Romney does not shy away from speculating with Russian shares. According to the applicant’s published tax return, he bought shares in Russian companies Gazprom, Sberbank and Yandex through one of the trusts called Bradford Malt & ANN Romney.
Romney’s profit officially amounted to 67 thousand dollars from previously invested 9.83 million. Investments in Russian shares were small: about 14.7 thousand dollars were invested in Sberbank, 11.1 thousand in Gazprom. Losses from an investment in Sberbank amounted to $ 340, and Gazprom made a profit of $ 2.75 thousand.
The minus turned out to be an investment in Yandex shares. Shares in the amount of 11.25 thousand dollars were acquired in May – June 2011 immediately after the IPO of the company. At the end of November last year, they were sold for 7.47 thousand dollars. Shares were purchased at $ 30-35, and sold only at $ 21.
In general, in 2011, Romney earned a little more than $ 13.5 million and paid taxes at an effective rate of 14.1%, his headquarters said.
If Russia is Romney’s “number one geopolitical enemy,” then Iran called the candidate “the greatest threat to peace.” In the summer, Romney was also accused of investing in the Iranian economy.
“Mitt Romney – a candidate who did not fulfill his promise to stop investing in companies dealing with Iran, his trust continued to invest in these companies for several years after he made a promise. Mitt Romney had interests in Turkcell (Turkish mobile operator communications) trying to grow business in Iran, “Obama’s campaign spokeswoman Ben Labolt said in a statement.
The “Iranian attack” was launched by the Republicans, who “blamed” Obama’s adviser David Plow for accepting $ 100,000 for speechwriter services from the MTN Group’s South African telephone campaign, which runs business in Iran.