Monday, May 6, 2013

Al Gore is Romney-Rich

  

Former U.S. Vice President Al Gore speaks during an interview at the annual Milken Institute Global Conference in Beverly Hills, California.

In 1999, Al Gore, then U.S. vice president and a Democratic candidate for president, sold $6,000 worth of cows.

The former senator, who spent most of his working life in Congress, had a net worth of about $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 $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 $500 million. After debt, he grossed an estimated $70 million for his 20 percent stake, according to people familiar with the transaction.

Two weeks later, Gore exercised options, at $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 $30 million payday based on the company’s share price on the day he claimed the options.

For the rest of the story: http://go.bloomberg.com/political-capital/2013-05-06/al-gore-is-romney-rich/

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