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Business Is Good: Al Gore Set to Surpass Romney’s Net Worth With Current TV Deal

Jan. 8, 2013 5:30pm Becket Adams

With The Sale of Current TV, Al Gores Estimated Net Worth Surpasses Mitt Romneys

Former US vice president Al Gore delivers a speech before a screening of the film he helped make of his best-selling global warming book ‘An Inconvenient Truth’, 22 June 2007 in Cannes, southern France. Gore was recently nominated for a Nobel Peace Prize for his work in drawing attention to climate change, while the film ‘An Inconvenient Truth’ earlier this year won an Oscar. (Credit: AFP/Getty Images)

Failed presidential candidate Al Gore announced last week that he was selling Current TV, his experimental television network, to the Qatar-owned news organization Al-Jazeera.

And perhaps more ironic than the fact that Gore, a Democrat and longtime advocate of “environmental issues,” has chosen to sell his network to a company that relies on oil money is the fact that it most likely puts him in a higher income bracket than former Massachusetts Gov. Mitt Romney, a member of the so-called “one percent.”

“[I]t was announced that Al Jazeera would purchase … Current TV for a reported $500 million,” Forbes’ Ryan Mac reports.

“According to a source close to the company, Gore, chairman of Current TV, owned approximately 20% of the San Francisco-based media company that he cofounded with Joel Hyatt, giving him a $100 million pre-tax payday,” he adds.

So, along with his Current TV deal, his global warming business, and various media and financial investments, a conservative estimate by Forbes puts Gore’s net worth at about $300 million, considerably more than Romney’s estimated net worth of $230 million.

“The creation and sale of Current TV is the latest of a number of Gore’s savvy business moves since leaving the White House in 2001, when one of his most valuable assets was a Tennessee farm pasture worth less than $250,000,” Mac notes.

“Along with cultivating Current, Gore, 64, joined the board of Apple in 2003 and served as a senior adviser on green issues to Google beginning in 2001, three years before the company went public,” he adds.

Obviously, these investments boosted Gore’s wealth considerably.

“As of February, Gore, who is still an Apple director, held more than $35 million in stock and options in the Cupertino, Calif. technology firm,” the Forbes report adds.

However, Google has declined to comment on Gore’s compensation and told reporters that it “no longer maintains any formal financial relationship with the former vice president.”

But wait! There’s more:

Beyond Gore’s involvement in the media business and with two of Silicon Valley’s most influential companies, a large portion of his net worth is derived from his involvement with financial services firms. A year after losing the election, Gore was named vice chairman of Metropolitan West Financial Inc., a now defunct Los Angeles-based money manager, which then had more than $50 billion in assets under management. He held that position briefly before going on to found global investment firm Generation Investment Management with former Goldman Sachs executive David Blood.

Gore still remains chairman of Generation Investment Management, a firm dedicated to an “investment philosophy that integrates sustainability research with rigorous fundamental equity analysis,” according to its website.

Sources close to the company say the London-based firm has global assets under management of nearly $7 billion, while documents filed with the Securities and Exchange Commission reveal investments in companies including Amazon, eBay, Colgate-Palmolive and Procter & Gamble.

“We and others have called for a more responsible form of capitalism, what we call sustainable capitalism: a framework that seeks to maximize long-term economic value by reforming markets to address real needs while integrating environmental, social and governance (ESG) metrics throughout the decision-making process,” Gore and Blood wrote for a December 2011 Wall Street Journal op-ed.

In short, with his fingers in just about every industry pie, Gore has become a highly successful businessman and has seen his personal wealth explode since his disastrous bid for the White House.

Yet, oddly enough, he has managed to avoid the anti-business, anti-profit sentiment that has swept over the country.

Weird, right?

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Featured image courtesy Getty Images.

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Comments (59)

getourcountryback
Posted on January 8, 2013 at 6:49pm
Rut Roh, he better watch out or the media will start calling him a rich white man out of touch with society. Oh, that would not be a change would it?

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Eastinfection
Posted on January 8, 2013 at 6:27pm
If a tree falls in the forest, and nobody is there to see it…

will Al Jazeera buy it for $500 million?

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- DZ-015
  Posted on January 9, 2013 at 7:47am
  East: Was your remark prompted by a recollection of Al’s speaking style being so wooden that he was called Al Bore, the (almost) President Treeman?
  
  Report this comment
- Walkabout
  Posted on January 9, 2013 at 11:08am
  Al Jazeera pays $500 million for a channel that Time Warner is dropping from its cable line up.
  
  Sure Al Jazeera could build it up again. They run a sport channel in France that is doing well.
  
  But how much of this is PAYOFF & how much is actually paying for the worth of the channel?
  
  Report this comment
NigelTufnel
Posted on January 8, 2013 at 6:22pm
Just another example of how people on both sides are duped by their leaders. Al has done well operating in the capitalist world. Senators Glenn and Metzenbaum were long-time Moderate Democratic Senators from Ohio. You all know John Glenn’s story. Metzenbaum was a lawyer by trade but a savvy businessman too. As a lawyer he was an advocate of civil rights. Interestingly enough his cash cow was parking garages. Not exactly sexy investments buy solid nevertheless. One of the most interesting quotes I ever heard from a politician was Metzenbaum’s famous, “I have 9 million dollars….why do I need 10 million?” The left should choose their leaders better. Gore is a buffoon.

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Codger
Posted on January 8, 2013 at 6:22pm
Money is one thing but if I had to pick the more honest man between Al and Mitt, I’d go with Mitt any day.

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TH30PH1LUS
Posted on January 8, 2013 at 6:14pm
“What good is it for a man to gain the whole world, yet forfeit his soul?” – Jesus

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- FISH_BONE
  Posted on January 8, 2013 at 7:32pm
  You assume Al Gore has a soul?
  
  Report this comment
Gildersleeve
Posted on January 8, 2013 at 6:07pm
Tyburn Hill……..tick……..tock……….it’s coming.

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neverending
Posted on January 8, 2013 at 6:05pm
One thing sure we know the worthless bum will not surpass Governor Romney in honesty, integrity, caring and sharing.

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- YAHSHUARULES
  Posted on January 8, 2013 at 6:09pm
  You got that right.
  Here is something that will make your blood boil:
  You gotta see this to believe it!
  http://www.youtube.com/watch?v=EjnUbds-JMU
  
  More of the agenda to use public policy to subvert America from inside,
  infiltrate and influence our culture driving us in a direction designed to
  destroy us. . No conspiracy – just verifiable facts! If you don’t know all this
  you need to find out!
  
  This is the most comprehensive, best movie I have seen pulling all this
  together. I have watched it 12X to
  absorb all that is in it…give it 5 minutes and you won’t be able to walk away
  
  Watch it. Share it. Arrange a showing in church, groups, clubs, with friends
  or family. Everyone who loves America needs to see this movie,
  
  It is free on line for the moment
  https://vimeo.com/52009124
  
  If America goes down, the free world will go down with it and it will be finished
  for a very, very long time…
  
  Report this comment
DougHuffman
Posted on January 8, 2013 at 6:01pm
Surpass net worth only measured in dollars. I have an empty sewage holding tank which net worth far far exceeds AlGore’s worth to me.

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RightUnite
Posted on January 8, 2013 at 5:59pm
Here’s to hoping Karma takes a bite out of his *zz before he gets that money.

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SpankDaMonkey
Posted on January 8, 2013 at 5:58pm
.
Let’s see what rhymes with Gore?……..

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- FISH_BONE
  Posted on January 8, 2013 at 7:34pm
  Let me take a crack at it:
  
  1. bore
  2. snore
  3. whore
  
  Report this comment
- MisterSarcastic
  Posted on January 8, 2013 at 9:19pm
  …*******?
  
  Report this comment
- TheWhiteFalcon
  Posted on January 9, 2013 at 12:12am
  Soon to be poor?
  
  Report this comment
kickagrandma
Posted on January 8, 2013 at 5:56pm
TRAITOR! your business might be good here; but algoria, the price you are paying is not worth the comforts of this world. Not by a long shot

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MisterSarcastic
Posted on January 8, 2013 at 5:55pm
I don’t quite understand the comparison between Bore and Romney. Shudda compared their girth. Bore would win that one by a wide, wide margin.

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Git-R-Done
Posted on January 8, 2013 at 5:55pm
And Gore hypocritically condemns anybody else who’s wealthy. Excuse me if nobody needs permission from any political party to become wealthy if they want to.

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heavyduty
Posted on January 8, 2013 at 5:53pm
Gore and Moore a couple made for each other!

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h20sue
Posted on January 8, 2013 at 5:52pm
He’s a wealthy crook! We dislike having to look at him as much as Obama. What a pig! He could never have the compassion, business knowledge, and charisma as Mitt Romney. Not in his wildest dreams!
I don’t blame Tipper, I would have left the pig myself…. God Bless her for hanging in the marriage as long as she did. I was married to a controlling pig myself, so I can honestly say…”She made the best choice to divorce Al Gore!” Tipper, if you read this…. women in America respect you, and pray for your future happiness.

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noslave
Posted on January 8, 2013 at 5:52pm
tax him @100%he’ll soon see the light??were only asking his fair share??the clintons were ??BROKE??when they left the W.H.then they found millions to buy a mansion in n.y.she stayed in govt now their rich again??i guess being a politician allows you to skim&scam as much money as you can while in office,like a supermarket all you can grab giveaway??

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Vickie Dhaene
Posted on January 8, 2013 at 5:52pm
AlGore is entitled to make as much money as he wants. That’s what makes the USA great. Freedom and Free Enterprise. Will his Global Buddies ask for their Fair Share?

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- YAHSHUARULES
  Posted on January 8, 2013 at 6:16pm
  Do you know who the Fabians (with logo of wolf in sheep’s clothing); SDS, Frankfurt School and Willi Munzenberg, Herbert Markusa and Franz Noima; John Dewey, Antonio Gramsci, Mattechine Society, Saul Alinski (who dedicated his book which Obama taught for years in Chicago “Rules for Radicals” to Lucifer) was a disciple of Gramsci used to train at the rifle range with Leon Despres preparing for the revolution to take down America, later became a mentor to Obama and.Committees of Correspondence are? Connect all the dots that allowed Obama to waltz into the White House..
  
  All part of the Agenda to create an America so corrupt it stinks; use public policy to subvert America from inside, infiltrate and influence our culture driving us in a direction designed to destroy us. . No conspiracy – just verifiable facts! If you don’t know all this you need to find out!
  
  This is the most comprehensive, best movie I have seen pulling all this together. I have watched it 12X to absorb all that is in it…give it 5 minutes and you won’t be able to walk away
  
  Watch it. Share it. Arrange a showing in church, groups, clubs, with friends or family. Everyone who loves America needs to see this movie,
  It is free on line for the moment
  https://vimeo.com/52009124
  If America goes down, the free world will go down with it and it will be finished for a very, very long time…
  
  Report this comment
South Philly Boy
Posted on January 8, 2013 at 5:51pm
algore = BIG FRAUD

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zoro51
Posted on January 8, 2013 at 5:50pm
TRAITORS to america TERAITOR to america GORE who claimed HE invented the internet and feigned GLOBAL WARMING… SOLD OUT AMERICA TO MURDERING MUSLUMS n thier tv of HATE ,…REMEMBER THIS

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BODYBAG
Posted on January 8, 2013 at 5:48pm
The sex poodle is headed for a hard fall.
Gore red-lines the perv meter.

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- Anonymous T. Irrelevant
  Posted on January 8, 2013 at 6:03pm
  The man (?) should have been tried and jailed for fraud years ago. Carbon swaps, indeed.
  
  Report this comment
Gonzo
Posted on January 8, 2013 at 5:48pm
If we ever really “eat the rich”, I have dibs on Al. I could survive for months on that lard ass.

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- progressiveslayer
  Posted on January 8, 2013 at 5:53pm
  lol Long time no see G Happy New Year! Yes indeed Gore and Mike Moore could feed quite a few people.
  
  Report this comment
- Gonzo
  Posted on January 8, 2013 at 7:05pm
  Hey Slayer happy new year to you to buddy!
  
  Report this comment
progressiveslayer
Posted on January 8, 2013 at 5:45pm
Way to go Al you 1 % er now when you’re sued for perpetrating the fraud of man made global warming and lose you’ll be able to payout.

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Zipit
Posted on January 8, 2013 at 5:45pm
So is he a rich “Man”, rich “Bear”, or rich “Pig”? MANBEARPIG? Or is he a mere “crazed sex poodle”
The left should feel very, very, Violated!!!!

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- Darmok and Jalad at Tanagra
  Posted on January 8, 2013 at 5:57pm
  Gimps can’t be violated, just let out of their trunks.
  
  Report this comment
- Anonymous T. Irrelevant
  Posted on January 8, 2013 at 9:27pm
  Not if it’s an everyday thing.
  
  Report this comment
gyro
Posted on January 8, 2013 at 5:38pm
Gore is my capitalist hero
:)

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- The-Monk
  Posted on January 8, 2013 at 5:48pm
  Hi Gyro,
  
  I just love his (somewhat recently acquired) 9 million dollar “Ocean front” mansion.
  
  You know…. the one at “sea level”. LOL
  
  Report this comment
- gyro
  Posted on January 8, 2013 at 6:06pm
  Tell me tell me its true dose it have a pool?
  
  Report this comment
- The-Monk
  Posted on January 8, 2013 at 6:19pm
  Hi Gyro,
  
  I don’t know, I’ll try to find out……
  
  Report this comment
- The-Monk
  Posted on January 8, 2013 at 6:23pm
  Hi Gyro,
  
  Ding, ding, ding!!! that didn’t take too long to find out…..
  
  http://www.examiner.com/article/more-inconvenient-truth-of-hip-al-gore-ex-vp-buys-9m-mansion-on-socal-coast
  
  “The new Gore compound comes with a swimming pool, spa, fountains, six fireplaces, five bedrooms and nine bathrooms. This recent purchase compounds his ever-growing hypocritical ways at a world-class arrogant rate!”
  
  Check out the links in the above story…..
  
  Report this comment
- FISH_BONE
  Posted on January 8, 2013 at 7:36pm
  MONK, please rest assured that when his “home” is destroyed by “global warming” the feds will be there with a check to bail him out.
  
  Report this comment
Darmok and Jalad at Tanagra
Posted on January 8, 2013 at 5:35pm
But at least with the NEW tax rates, Al Gore will pay his fair share, unlike Romeny who hates dogs, keeps women in binders, kills employees wives, and commits felonies. All the while blowing dog whistles in chicago and hating poor people.

Al Gore on the other hand, just simply is a hippocrat, adulterer, liar, and is FAT. Much better than Romney, oh, and Al Gore hates america and Glenn Beck, so the left will always forgive him.

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- gyro
  Posted on January 8, 2013 at 5:40pm
  ?
  do you have a fever ? if so see doctor
  
  Report this comment
- Snowleopard {gallery of cat folks}
  Posted on January 8, 2013 at 5:50pm
  Darmok, I assume your first part of your post is in sarcasm. Gore managed to get the deal done before the new tax rates affected it; and he will have found ways to ensure no taxes get paid on the $100 million.
  
  Al Gore is a hypocrite as bad as Obama and Reid.
  
  Report this comment
- Darmok and Jalad at Tanagra
  Posted on January 8, 2013 at 5:51pm
  The, uh, Earth has a fever…..but I need to release my second Shakra – Al Gore.
  
  What a Dick – Jeff Spicoli (Fast Times at Ridgemont High)
  
  Al Gore has about as much believablilty as a Jewish Santa Claus celebrating Ramadaan.
  
  Report this comment
- qpwillie
  Posted on January 8, 2013 at 6:05pm
  “Jewish Santa Claus celebrating Ramadaan”
  
  rotfl!!!!!!
  
  Report this comment
- gyro
  Posted on January 8, 2013 at 6:08pm
  Darmok and Jalad at Tanagra = your saying I need to return my Jewish Santa Claus celebrating Ramadaan. costume to costumes are us for a refund ?
  
  Report this comment
- Darmok and Jalad at Tanagra
  Posted on January 8, 2013 at 9:26pm
  GYRO
  You could always keep the suit for Easter.
  
  Report this comment

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