Al Gore exercises Apple stock options worth $29 million

[onehandle]

Source: CNET

Al Gore has just purchased a big chunk of Apple stock by exercising his Apple stock options.

A filing with the Securities and Exchange Commission shows that Gore exercised options on January 15 to buy 59,000 Apple shares at the price of $7.475 a share.

That means Gore paid around $441,000 for his load of Apple stock. With the shares trading just under $500 this morning, Gore's investment is now worth around $29.5 million.

Of course, Apple stock has been falling recently, although that could turn around next week if the company releases good results for the last quarter. Either way, it's still a giant profit for the nation's former vice president.

Read more: http://news.cnet.com/8301-13579_3-57564715-37/al-gore-exercises-apple-stock-options-worth-$29-million

[JI7]

2. how is this possible ? didn't Obama do things to make it tough for people to make money

?????????

[Leslie Valley]

5. But certainly not impossible, especially if you're already one of the .01%

and have worked hard to get connected.

Obviously President Gore needs a place to park his $100 million from the breakup and sale of CurrentTV. You wouldn't expect him to stuff it in a mattress would you?

Btw, it has now been estimated that Al is wealthier than Mitt Romney.

Another win for a good guy Democrat.

[JI7]

8. but it is exactly the top percent the republicans are saying are the ones who suffer

[Leslie Valley]

10. Well, Mr. Gore certainly puts the lie to that talking point

And it should be pointed out every time they spew that nonsense.

Just another of their fantasies.

[eggplant]

13. This doesn't "park" anything.

He paid $400k for stock WORTH $30m. That was but the tiniest fraction of his Current profits.

[kimbutgar]

3. I guess Al is getting ready to pay off Tipper in the Divorce

[Fumesucker]

4. But Kookinich is working for Fox N00z

Argle bargle blargh.

[Beacool]

6. I read recently that after he sold Current TV, Gore is now worth more than Romney.

His take was $300M.

[Leslie Valley]

7. He only cleared $70 - $100 million

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.

http://money.msn.com/now/post.aspx?post=8c2e441c-d512-4c88-8d16-d17d5d27c012

[Beacool]

11. Thanks for the article.

Gore is a very wealthy man indeed. If he and Tipper divorce, she's due to get a pretty chunk of change.

[bongbong]

9. Take that with a grain of salt

There were lotsa claims before Flip-Flopper crashed & burned that he was worth in excess of a billion and that he was hiding the true number so - no surprise - he didn't have to pay taxes.

[Beacool]

12. Well, either way, they are both extremely wealthy.

[rosesaylavee]

14. Good for him.

Glad for his opportunity to make some money. My guess it is for Tipper or for something other than his own comfort.

[hughee99]

15. Sweet, I think I have a new business idea for him to invest in...

Carbon credits allow someone who uses "too much" to pay someone off to assuage their guilt. Hopefully, that money will be used to make the earth cleaner, but that's not really a guarantee.

They should have something similar to this where people who benefit from horrible labor conditions elsewhere can pay some money to someone else to assuage their guilt about that. Hopefully that money could be used to improve labor conditions.