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Question of the Day
Fourteen years ago, he was worth less than $2 million. Since January, Al Gore has become “Romney rich,” a revelation that generated much buzz among those either annoyed or transfixed by the former vice president’s business acumen.
“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,” note Bloomberg analysts Ken Wells and Ari Levy.
“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,” the pair write, adding that the value could eventually total $46 million.
What with his real estate holdings, speaker fees, book and movie profits, Mr. Gore is worth more than $200 million, edging into Mitt Romney territory ($250 million). New York magazine, meanwhile, declares that Mr. Gore is richer than Mr. Romney, but no matter.
The Gore fans see him as “the progressive Democrat who should have been president, visionary author and Internet prophet, the man who more than anyone drove climate change to the center of public consciousness,” the Bloomberg analysts say. “Detractors see Gore as a limousine liberal, tiresome pedant and climate alarmist who lives a jet-setting, carbon-profligate lifestyle while preaching asceticism for everyone else.”
And a wee update from Bain Capital, which was under much scrutiny when the aforementioned Mr. Romney ran for president last year, even though he left the Boston-based assets management firm in 2001. Bain Capital LLC and Golden Gate Capital have agreed to acquire the technology provider BMC Software Inc. for $6.9 billion — making it the third-largest private-equity deal of 2013.
POLL DU JOUR
• 86 percent of Americans will celebrate Mother’s Day this year.
• 62 percent will buy something for their mother, 24 percent for their wife; 11 percent will buy for daughters, 8 percent for grandmothers, 8 percent for sisters.
• $20.7 billion: Amount U.S. consumers will spend in total on Mother’s Day.
• $4.2 billion: Amount consumers will spend on jewelry.
• $3.5 billion: Amount consumers will spend on Mother’s Day brunch or dinner.
• $2.3 billion: Amount consumers will spend on personal electronics.
• $169: Amount the average consumer will spend on Mother’s Day, an increase of 11 percent from 2012.
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About the Author
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