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Gore becomes Romney-rich with accumulation of estimated $200 million worth

By Bloomberg News
Monday, May 6, 2013, 6:51 p.m.
 

Quick quiz: Who's richer, Al Gore or Mitt Romney?

The former vice president 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 Qatar-owned Al Jazeera 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 on Apple stock that he'd been granted for serving on the California-based company's board since 2003. On paper, it was about a $30 million payday.

That's a pretty good January for a guy who in 1999 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 roots in Carthage, Tenn. Funds from the cattle sale went to three of his kids, according to federal disclosure forms filed as part of his presidential run.

Gore has remade himself into a wealthy businessman, amassing a fortune that may exceed $200 million.

That's close to the $250 million net worth of 2012 Republican presidential nominee Mitt Romney, whom President Obama targeted in ads and speeches as being out of touch with most Americans.

Gore declined to be interviewed for this story. Estimates of his wealth are based on company filings, government records, public pronouncements he or his associates have made about past business dealings and interviews with people in a position to know of and evaluate Gore's holdings.

Gore hasn't tried to hide his prosperity. Back in 2000, about $750,000 of his net worth was tied to two homes he and his then-wife Tipper owned in Virginia and Tennessee.

Most of the rest has been recently inherited, including an undisclosed number of shares of Occidental Petroleum Corp. left to him by his late father, Sen. Albert Gore Sr., and valued at between $500,000 and $1 million, according to disclosure forms.

 

 
 


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