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.
A lot has changed for former Vice President Al Gore, who left the White House with a reported $1.9 million net worth.
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
- Self-driving cars roll into CES
- College football wins more fans and ad dollars
- Sushi mania: 489-pound tuna sells for $1.76M
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!
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.
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.
Mat 16:26For 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?
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
A report finds local governments are lacking when it comes to ensuring folks can secure a living wage and necessary benefits.
- Oklahoma tornado losses in hundreds of millions
- Chick-fil-A thrown back into gay marriage debate
- Some of France's richest taxed more than 100%
- Farmers cultivate drones as new high-tech tool
- Apple's overseas hoard unfair to taxpayers
- Why hugely profitable ESPN is laying off workers
- Tornado shelters become a vital business
- Victoria's Secret won't sell cancer 'survivor' bras
- DC is doing nothing to fix the economy
U.S. equity futures continue to hover near their highs with the S&P 500 futures up 0.2%.
The major Asian bourses ended mostly lower, but Japan's Nikkei (+1.6%) outperformed after the latest Bank of Japan meeting. The central bank noted the "economy has begun to pick up," and that it is watching JGB yields carefully. The 10-yr yield ticked above 90 basis points before slipping back to 89 ... More
More Market News