Forgot to add - he did make is money from his area of 'brilliance'.
He know how the policital wheels are greased.
In 1999, Al Gore, then U.S. vice president and a Democratic candidate for president, sold US$6,000 worth of cows.
The former senator, who spent most of his working life in Congress, had a net worth of about US$1.7-million and assets that included pasture rents from a family farm and royalties from a zinc mine, remnants of his rural roots in Carthage, Tennessee. Funds from the cattle sale went to three of his kids, according to federal disclosure forms filed as part of his presidential run.
Fourteen years later, he made an estimated US$100-million in a single month. In January, the Current TV network, which he helped to start in 2004, was sold to Qatari-owned Al Jazeera Satellite Network for about US$500-million. After debt, he grossed an estimated US$70-million for his 20% stake, according to people familiar with the transaction.
Two weeks later, Gore exercised options, at US$7.48 a share, on 59,000 shares of Apple Inc. stock that he’d been granted for serving on the Cupertino, California-based company’s board since 2003. On paper, it was about a US$30-million payday based on the company’s share price on the day he claimed the options.
That’s a pretty good January for a guy who couldn’t yet call himself a multimillionaire when he briefly slipped from public life after his bitterly contested presidential election loss to George W. Bush in late 2000, based on 1999 and 2000 disclosure forms.
Gore isn’t finished exercising his Apple stock grants. Those 59,000 are part of 101,358 Apple options and shares of restricted stock Gore has amassed, according to company filings, giving his total holdings a gross value of more than US$45.6-million today.
Whatever you think of Gore, one thing is indisputable: leveraging his aura as a technology seer and his political and climate work connections, Gore has remade himself into a wealthy businessman, amassing a fortune that may exceed US$200-million.
Gore also had his share of flubs, most of them in his efforts at green-tech investing. An investment firm he helped to start took stakes in two carbon-trading firms that fizzled and also racked up tens of millions in losses in a solar-module maker.
Gore went on to graduate with a degree in government from Harvard University, dabble in journalism and study but never graduate from law school at Vanderbilt University.
Expand
