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- Either grease or spray a 10-inch bundt pan.
- In a mixer, beat the cake mix, the pudding mix, the eggs, olive oil, water, olive oil, rum and sugar on high speed for 2 – 3 minutes.
- Pour the batter in to the bundt and place in a 325 oven for 50 minutes to an hour, or until a toothpick comes out clean.
- While the cake is baking, in a saucepan, combine butter, white sugar, the white rum and the water and bring to a boil and cook for 3 –5 minutes.
- When you take the rum cake out of the oven, flip it over on a rack on a cookie sheet, and immediately pour the glaze over the cake while it's still warm.