Romney is the son of George W. Romney (the former Governor of Michigan) and Lenore Romney. He was raised in Bloomfield Hills, Michigan and then served as a Mormon missionary in France. He received his undergraduate degree from Brigham Young University, and thereafter earned joint Juris Doctor/Master of Business Administration degrees from Harvard Law School and Harvard Business School. Romney entered the management consulting business which led to a position at Bain & Company, eventually serving as its CEO to lead it out of crisis. He was also co-founder and head of the spin-off company Bain Capital, a private equity investment firm which became highly profitable and one of the largest such firms in the nation, and the wealth Romney accumulated there would help fund all of his future political campaigns. He ran as the Republican candidate in the 1994 U.S. Senate election in Massachusetts but lost to incumbent Ted Kennedy. Romney organized and steered the 2002 Winter Olympics as President and CEO of the Salt Lake Organ.