By . Daniel Bates . Last updated at 9:49 PM on 19th December 2011 . He has been mocked for making a $10,000 bet on national TV. But now Mitt Romney has been forced on the defensive again over his wealth after a picture emerged of him and his hedge fund colleagues being showered in money. The picture - which Democrats have likened to Gordon Gekko in the 1987 film ‘Wall Street' - shows the Republican presidential candidate grinning from ear to ear and holding up a $20 note. It was taken whilst he worked at hedge fund Bain Capital in the 1980s and has been seized on as another sign he is too rich to relate to normal people. Too rich? Americans United for Change, a liberal group, has used this 1980s photograph of Mitt Romney (center) and his Bain Capital colleagues to compare him to 'Wall Street' movie villain Gordon Gekko . Today it also emerged that the former Massachusetts governor is still making millions of dollars a year from Bain, even though he retired 13 years ago. The New York Times reported that he negotiated a retirement deal which has flowered into assets worth up to $70.9 million, earning him and his wife $13.4 million between them. Romney is one of the wealthiest candidates ever to run for president and has a family fortune estimated at up to $250 million. But his finances became a campaign issue when he tried to make a $10,000 bet with fellow presidential candidate Rick Perry during the second to last TV debate. Critics have also claimed that whilst at Bain, Romney oversaw layoffs and rampant cost cutting at the companies he took over. The picture of him from the 1980s was . published on the left-leaning Americans United for Change website and . shows the 64-year-old with six colleagues looking very pleased with . themselves indeed. Can he relate? Mr Romney's wealth has become an issue because critics say he can't relate to average, middle and working-class voters . Does Romney's wealth make him out of touch with ordinary Americans? Whilst Romney and a colleague hold one $20 between them, one of his friends is smoking a cigar whilst another has money in his mouth. The man to the far left also has two $20 notes stuffed down either side of his shirt collar. A doctored version has the caption: ‘Greed is good! Romney-Gekko 2012’ above the photo. The New York Times reported that under the deal he negotiated with Bain, Romney still gets a cut from the profits of deals done even after he left. In his 2011 disclosure, he said he had assets in the company between $12.4 million and $60.9 million which has given him between $1.5 million and $9.3 million in income. He has also set up a $10 million trust for his wife which has brought in $4.1 million. Romney also has other investments including an additional $100 million fund for his five sons. Bad odds: The $10,000 bet Mr Romney (right) made with Texas Gov Rick Perry (left) was one of Mr Romney's first gaffes . His total net worth could be much higher, the Times reported, as he is only required to provide minimum estimates held by his wife. The developments came as Romney remained second in the polls to become the Republican presidential nominee, although Newt Gingrich’s campaign appears to be imploding. A survey by Public Policy Polling in Iowa, the first state to choose its candidate, found that Ron Paul was in the lead on 23 per cent, Romney was on 20 per cent and Gingrich was on 14 per cent. In an interview Romney said that the ‘Gordon Gekko’ picture was taken at the closing of Bain’s first fund and that they were just celebrating. He said: ‘We went out as a group of folks, said, you know, I wonder if we can raise money from other people to organise a company, we can get capital from others that will allow us to begin a business that will be successful. ‘And we went out and raised money. We were successful in raising our first fund; it was about $37 million, an extraordinarily large amount of money that we raised from other people. ‘And we posed for a picture, just celebrating the fact that we'd raised a lot of money and then we hoped to be able to return it with a good return’. Andrea Saul, a spokeswoman for Romney, denied there was anything untoward in his retirement deal with Bain. She said: ‘This was a typical market deal. Bain Capital has no incentive to overpay Governor Romney, and they didn’t.’
Critics say he's too rich to relate to middle-class voters .
His fortune is estimated at $250 million, making him one of the richest men ever to run for president .
GOP presidential nomination is still in flux as Ron Paul places first in recent Iowa poll .
By . Daniel Bates . Last updated at 9:49 PM on 19th December 2011 . He has been mocked for making a $10,000 bet on national TV. But now Mitt Romney has been forced on the defensive again over his wealth after a picture emerged of him and his hedge fund colleagues being showered in money. The picture - which Democrats have likened to Gordon Gekko in the 1987 film ‘Wall Street' - shows the Republican presidential candidate grinning from ear to ear and holding up a $20 note. It was taken whilst he worked at hedge fund Bain Capital in the 1980s and has been seized on as another sign he is too rich to relate to normal people. Too rich? Americans United for Change, a liberal group, has used this 1980s photograph of Mitt Romney (center) and his Bain Capital colleagues to compare him to 'Wall Street' movie villain Gordon Gekko . Today it also emerged that the former Massachusetts governor is still making millions of dollars a year from Bain, even though he retired 13 years ago. The New York Times reported that he negotiated a retirement deal which has flowered into assets worth up to $70.9 million, earning him and his wife $13.4 million between them. Romney is one of the wealthiest candidates ever to run for president and has a family fortune estimated at up to $250 million. But his finances became a campaign issue when he tried to make a $10,000 bet with fellow presidential candidate Rick Perry during the second to last TV debate. Critics have also claimed that whilst at Bain, Romney oversaw layoffs and rampant cost cutting at the companies he took over. The picture of him from the 1980s was . published on the left-leaning Americans United for Change website and . shows the 64-year-old with six colleagues looking very pleased with . themselves indeed. Can he relate? Mr Romney's wealth has become an issue because critics say he can't relate to average, middle and working-class voters . Does Romney's wealth make him out of touch with ordinary Americans? Whilst Romney and a colleague hold one $20 between them, one of his friends is smoking a cigar whilst another has money in his mouth. The man to the far left also has two $20 notes stuffed down either side of his shirt collar. A doctored version has the caption: ‘Greed is good! Romney-Gekko 2012’ above the photo. The New York Times reported that under the deal he negotiated with Bain, Romney still gets a cut from the profits of deals done even after he left. In his 2011 disclosure, he said he had assets in the company between $12.4 million and $60.9 million which has given him between $1.5 million and $9.3 million in income. He has also set up a $10 million trust for his wife which has brought in $4.1 million. Romney also has other investments including an additional $100 million fund for his five sons. Bad odds: The $10,000 bet Mr Romney (right) made with Texas Gov Rick Perry (left) was one of Mr Romney's first gaffes . His total net worth could be much higher, the Times reported, as he is only required to provide minimum estimates held by his wife. The developments came as Romney remained second in the polls to become the Republican presidential nominee, although Newt Gingrich’s campaign appears to be imploding. A survey by Public Policy Polling in Iowa, the first state to choose its candidate, found that Ron Paul was in the lead on 23 per cent, Romney was on 20 per cent and Gingrich was on 14 per cent. In an interview Romney said that the ‘Gordon Gekko’ picture was taken at the closing of Bain’s first fund and that they were just celebrating. He said: ‘We went out as a group of folks, said, you know, I wonder if we can raise money from other people to organise a company, we can get capital from others that will allow us to begin a business that will be successful. ‘And we went out and raised money. We were successful in raising our first fund; it was about $37 million, an extraordinarily large amount of money that we raised from other people. ‘And we posed for a picture, just celebrating the fact that we'd raised a lot of money and then we hoped to be able to return it with a good return’. Andrea Saul, a spokeswoman for Romney, denied there was anything untoward in his retirement deal with Bain. She said: ‘This was a typical market deal. Bain Capital has no incentive to overpay Governor Romney, and they didn’t.’
as another sign he is too rich to relate to governor is still making millions of dollars a Romney is one of the wealthiest candidates ever to run for president and has a family fortune estimated at up to $250 million. But his finances its candidate, found that Ron Paul was in the