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How Does Al Gore Have a Net Worth of $300 Million?
What is Al Gore’s Net Worth?
A former senator and Vice President with a fortune of over $300 million, Al Gore is also an environmentalist and entrepreneur. Vice President Al Gore served from January 1993 to January 2001 as Bill Clinton’s vice president. His award-winning documentary, An Inconvenient Truth, was also a critical and popular success. He ran for president of the United States in the year 2000 but lost to George W. Bush.
The vast majority of Al Gore’s current fortune was amassed after he left office as president. Al Gore’s net worth at the time he was Vice President in 2000 was between $1.4 and $2.5 million, according to his most recent financial disclosure.
|Net Worth:||$300 Million|
|Date of Birth:||1948-03-31|
|Height:||6 ft 1 in (1.87 m)|
|Profession:||Politician, Writer, Author, Presenter, Advocate, Philanthropist, Environmentalist, Actor|
|Nationality:||United States of America|
In 2012, Al Jazeera bought Al Jazeera’s cable network CurrenTV for $500 million, which was Al’s first major financial windfall. Gore’s pre-tax profit from the sale of the network was $100 million.
On March 31st, 1948, Albert Arnold George Jr. was born in Washington, D.C. Al was raised on his family’s farm in Carthage, Tennessee, where he spent his childhood. He was captain of the football team during his high school years. As a student at Harvard in 1965, Gore studied government. He was drafted into the military in 1969, just a year after graduating.
Al Gore was elected to the Senate of the United States in 1976. In 1988, he ran for president, but received only 10% of the popular vote in New York’s primary and dropped out of the competition. In 1992, he served as Bill Clinton’s running mate in the presidential election. He was elected as the 45th vice president of the United States after the pair triumphed in the presidential election together. When he announced his second presidential run in 2000, he went on to be the Democratic Party’s nominee. He was defeated by George W. Bush in a contentious election marked by a recount in Florida.
In 2006, Al Gore released An Inconvenient Truth, an environmental documentary. The film was based on a novel Gore had previously written, and it had a profound effect on the environmental movement around the globe. For Best Documentary, the film was also honoured with an Academy Award. In 2017, he released An Inconvenient Sequel: Truth to Power, a sequel to An Inconvenient Truth.
Al Gore sold $600,000 worth of cows in 1999, according to reports. Only $1.7 million was in his bank account at this point, and most of it came from pasture rents and zinc mine royalties. The $600,000 was given to Gore’s children before he ran for president.
He founded a cable news network called Current TV shortly after the release of An Inconvenient Truth. Al Gore reportedly made $1.2 million in salary and bonuses per year while Current TV faded into obscurity. Al Jazeera paid $500 million for Current TV in 2012, despite the channel’s low ratings. Gore made $100 million in pre-tax profits from his 20% stake in Current TV.
Gore and his business partners needed to complete the deal before December 31, 2012, when capital gains tax rates went from 15% to 20%. Contrary to popular belief, the previous tax rates were instituted by George W. Bush, Gore’s main political rival. Gore lost the US presidential election to Bush, but Bush’s tax laws saved him $5 million.
Thank you, @PEspinosaC, for your years of committed leadership at the @UNFCCC. I am hugely appreciative of all the work that you have done and will continue to do to implement the solutions to the climate crisis. https://t.co/7Y1pDWN5Dz
— Al Gore (@algore) July 18, 2022
Since 2003, Gore has been an Apple board member. Before the 2020 stock split, Gore owned approximately 100,000 shares of Apple stock, both vested and unvested. He would have received 400,000 shares after the stock split 4-1. Depending on the share price, those shares could be worth between $50 and $60 million at various points in time.
Gore cashed in on 59,000 Apple shares he had owned since 2003 when he exercised options on his shares in 2013. A $30 million payday was the result of this. Gore’s success has been attributed to his timing, according to observers. On his first day on the board, Apple’s stock was worth $7.50 per share. The value of each of these shares eventually rose to over $400.
His father’s death left Al Gore with some shares in Occidental Petroleum Corp. Each of these shares was worth between $500,000 and $1 million.
General Investment Management
Vice President Al Gore serves as chairman of Generation Investment Management (GIM), a firm with assets of around $8.5 billion. A total of $218 million was earned by GIM between 2008 and 2011. There were 26 partners, including Al Gore, who contributed a portion of the total. As a co-founder of GIM, Gore is likely to have a much larger equity stake than other partners. According to reports, GIM lost $165 million after investing heavily in a solar panel company that quickly went bankrupt.
He went on a speaking tour after the success of An Inconvenient Truth and charged upwards of $175,000 for a single speech.
Al Gore paid $8.9 million in 2010 for an oceanfront estate in Montecito, California. A swimming pool and spa can be found on more than 1 12 acres of land on the gated property. The house has a lot of room, with a total floor area of over 6,500 square feet. The perimeter is dotted with fountains. When the purchase was made public, the well-known environmentalist was booed because it appeared to contradict his position on climate change. One might ask, given his preoccupation with sea level rise, why on earth would a man make such an investment in coastal real estate?
It was even more of a headache for Al Gore when his second property in Belle Meade, Tennessee, drew attention. As a result of discovering how much energy his family was using, he had to add solar panels to the 10,000-square-foot house. According to one study, Gore’s mansion used 34 times as much energy in a month as the average household did, and his swimming pool alone used enough energy to power six homes for a year. A big no-no for environmentalists, his home is heated by natural gas. Gore was shelling out a total of $2,400 a month on his utility bills.
Amid this controversy, George W. Bush had the last laugh once again. George, on the other hand, was living in one of the most environmentally-friendly and sustainable homes on the market. Heated by sustainable geothermal energy, which is 75 per cent more efficient than conventional heating and cooling systems, Bush Jr.’s home had a footprint of 4,000 square feet. This water was used to irrigate the fields around Bush’s mansion after it was collected from the roof and treated. Al Gore was once again outdone.
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