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 3:20PM
Jan 9, 2013 3:17PM
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Don't worry, Romney will grab up another struggling American company and sell the jobs overseas to get back into the lead before you know it.
Jan 9, 2013 3:16PM
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But neither could buy the white house
Jan 9, 2013 3:10PM
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Thanks Al,
Now you are pushing for Muslim brotherhood to infiltrate our country and beliefs. Thanks. And you dodged paying your fair share. Oh, and I just can't wait until you begin to sell air to each and every human being on earth.   You're a genius!

That's so awesome, Al, our pal!

Jan 9, 2013 3:06PM
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why is it that his ownership of occidental oil corp is always overlooked?
Jan 9, 2013 3:02PM
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Typical of the liberals and the media who HATE the rich republicans but LOVE THEIR rich democrats like the Kennedys, Al Gore, John Kerry among others.  Their wealth is never mentioned, nor is it used AGAINST them.  The media and liberals are hypocrits when it comes to democrats and THEIR riches.
Jan 9, 2013 2:58PM
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He may be richer with his liberal hating capitalistic money but poorer in all other aspects of life!
Jan 9, 2013 2:53PM
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HYPOCRITE....global warming, selling out to the enemy so now they promote their crap in the US.  He is as big as piece of wasted human debris as the other friends of his, Clinton, Obama, Kennedy, etc.
Jan 9, 2013 2:50PM
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 Together, Blood and Gore have reportedly built a company with assets under management of .  Blood and Gore seem to be big business these days!
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the Apple didn't fall far from the tree in this case.....  Like father, like son...could anyone else be so lucky?  Or should I say well connected?
Jan 9, 2013 2:19PM
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Romney is worth a lot more than 250 mil.  That's only the money we know about.  He has 100 mil in cash in an IRA.  His wife comes from a very wealthy family, too. 

 

“'Mitt Romney should be a billionaire,” Margaret Collins and Richard Rubin stated flatly last month in a detailed .

...

Romney’s net worth of $250 million is an estimate provided to the media by his campaign, and it is in line with the $254 million maximum value of his financial assets found in his June 1 presidential-candidate disclosure form. Yet this form is a masterpiece of obfuscation, in large part because it allows for absurdly wide ranges of value, with little specificity.'"

 

I can't post a link.  The quote is from a William D. Cohan Op Ed in the Washington Post from October 5, 2012.

 

 

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