Al Gore now richer than Mitt Romney

With the sale of Current TV, the former vice president's fortune is pegged at more than $300 million.

By Aimee Picchi Jan 9, 2013 1:48PM

Al Gore in December 2011 (MCMULLAN CO/SIPA/Rex Features)A lot has changed for former Vice President Al Gore, who left the White House with a reported $1.9 million net worth.


With an estimated $100 million gross profit from the sale of his Current TV to pan-Arab broadcaster Al-Jazeera, Gore is now worth more than $300 million, according to an estimate from Forbes.com.


That puts his net worth well ahead of that of former presidential candidate Mitt Romney, who has an estimated fortune of $230 million and was often mocked for being out of touch with ordinary Americans during the election.


Gore's wealth accumulation began soon after he left the White House in 2001. Apple (AAPL) tapped him in 2003 to serve on its board, and the former vice president held more than 100,000 shares and options in the tech company as of Dec. 17, according to a regulatory filing. That makes Gore's stake worth more than $56 million, based on Apple's recent trading price. 


Google hired Gore to serve as a senior adviser on environmental issues in 2001, a role he held for three years. He doesn't have a formal financial relationship with the company currently, Forbes.com reports. 


Gore also has his hand in a global investment company called Generation Investment Management, which he founded in 2004 with ex-Goldman Sachs (GS) executive David Blood. Together, Blood and Gore have reportedly built a company with assets under management of more than $6 billion.


The truth is, serving in the White House often proves beneficial to a person's financial health. 


Take a look at former President Bill Clinton, who since leaving the White House has built a net worth of about $38 million, helped by income as an author and public speaker. He's able to command speaking fees of more than $700,000, although more typically he is paid in the $500,000 range for his public events, reports CNN.com


Still, Gore's new wealth may strike some people as being at odds with his image as an environmental do-gooder.


Conservative television host Bill O'Reilly condemned Gore as a hypocrite, citing a report that he wanted to sell Current TV to Al-Jazeera before higher taxes kicked in on Jan. 1.


Other people have pointed out that Current's sale to Al-Jazeera, which is backed by Qatar, "reeks of irony," given Qatar's oil-based economy, which might not jibe with Gore's environmental message from "An Inconvenient Truth."


Gore's net worth might not be as high as Forbes estimates: Bloomberg, for one, pegged his profit at $70 million from the Current TV sale. If that's the case, his net worth might be only $270 million or so -- but that's still higher than Romney's. 


More on Money Now


689Comments
Jan 9, 2013 3:36PM
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According to Gore, oil is bad.  The hypocrite sold it to a network funded by oil.  POS.
Jan 9, 2013 3:36PM
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At least Gore served in the military, whereas draft dodger Romney fled to France.
Jan 9, 2013 3:35PM
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"During my service in the United States Congress, I took the initiative in creating the Internet."

 

- Al Gore

 

I figured he would be worth more than 300 million if he did this...

Jan 9, 2013 3:35PM
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I'm sure Mr. Gore is laughing at his critics.  All the way to the bank.  
Jan 9, 2013 3:34PM
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Who cares, as long as he pays his fair share of taxes and does not put the money offshore like Romney does just to avoid paying taxes.
Jan 9, 2013 3:34PM
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Where are the liberal posters today on this topic. 
Jan 9, 2013 3:34PM
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Never ceases to amaze me how the Democrats are supposedly for "the little guy" and the middle class, defending them against the mean Republican rich guys, but they themselves are rich capitalists.

They give little if any to charity but want all us upper middle class workers to fund the welfare class who are on the government dole.

Jan 9, 2013 3:33PM
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Maybe he's planning on donating the proceeds to help pay down the national debt...NOT!
Jan 9, 2013 3:32PM
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LOL . . . somehow it's fine for a conservative right winger like Romney to make millions and be clueless, but somehow it's not OK for an educated liberal?  What hypocrisy!  It once again goes to show how the right wants the 'rules' only to apply to them, then changes them when anyone else stands to gain!  Thank God Mittens only got his 47%, as it shows that the MAJORITY of the country doesn't fall for this double standard.  I sincerely look for the next GOP candidate to get less than the 47% when Hillary wins in 2016.  Good luck, GOP . . . you are on the path to irrelevancy! LOL
Jan 9, 2013 3:32PM
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Bahahahaha. Who saw this coming? Funny how it is okay to be filthy rich if you are a libtard, but not when you are a conservative. They are all hypocrites!
Jan 9, 2013 3:32PM
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Didn't our President win the election because we're supposed to hate wealthy people, we're supposed to demonize those that worked hard and became successful; we're supposed to fix Obama's spending addiction by taxing just 2% of the population.  Do the liberals hate Gore?  And what about Kerry, who makes Romney look like a homeless person when it comes to wealth.  Why doesn't the media jump on the fact Kerry keeps his $7.5 million custom built yacht in Rhode Island so he can avoid paying the $500,000 luxury tax he'd have to pay if he kept it in his home state.  No hypocrisy here.  I guess the liberals will say he's smart, but they'd call a GOP a tax cheat.
Jan 9, 2013 3:30PM
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Gore=good guy, Romney=bad guy next story

Jan 9, 2013 3:29PM
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What a jerk! I totaly agree with itnm on this one.

Liberal hypocrites love to hate the rich conservatives.

Look at brad pitt and most of hollyweird.

HYPOCRITES!!!!!

Jan 9, 2013 3:27PM
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Mat 16:26

For what is a man profited, if he shall gain the whole world, and lose his own soul? or what shall a man give in exchange for his soul?

 

 

Jan 9, 2013 3:26PM
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How much you wanna bet he got the deal done before the Tax Hikes kicked in. Hypocrite. 

I would have thought he'd be worth a lot more than that,
considering that he "Created the Internet"..................

"Take a look at Former President Bill Clinton, who since leaving the White House has built a net worth of about $39 million, helped by income from Cigar Sales."  ;o
Jan 9, 2013 3:26PM
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Well that means that liberals must hate algore too............right?
Jan 9, 2013 3:25PM
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Thank God Al invented the internet else we wouldn't be reading and posting. 
Jan 9, 2013 3:24PM
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Many Democrats are not wealthy.  Many Republicans are wealthy.  Gore is Democrat Rich.  He  and his buddies, John Kerry, and Ted Kennedy have so much money they can afford to be Democrats.
Jan 9, 2013 3:20PM
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Gore is a traitor when he was vp he sold military tech stuff to china and now he sells his tv station to al-jereza he is not looking out for the USA just himself and our enemies
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