Thursday, January 10, 2013
Someone finally has done all the math on the recent sale of Al Gore's Current TV to the Arabic language channel Al-Jazeera for $500 million. Jobs were lost, buzz created, employees angered, but the former vice president had little to say about it. He did walk away with a reported $100 million — a tidy sum for a man who had less that $2 million in assets when he ran for president more than a dozen years ago, says Forbes magazine.
"Taking into account taxes to be paid on the deal, possible earlier debt and the fact that Gore's representatives declined to comment, Forbes conservatively estimates the former vice president's net worth to be at least $300 million, making him wealthier than unsuccessful Republican presidential candidate Mitt Romney," says Ryan Mac, a Forbes analyst.
"Last May, Forbes estimated Romney's net worth to be around $230 million," he adds.
Mr. Gore founded Current TV with much ado six years ago, and he even anchored its presidential election coverage last fall. But apparently, news and public affairs are no longer his calling. Now 64, Mr. Gore remains a board member of Apple, a senior adviser on "green issues" for Google and 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. He continues to complain about global warming issues.
"How does Gore sleep at night? He's an empty hack. At this point I'd say, Al, go seek absolution from Oprah," talk radio host Dennis Miller told Fox News.
Mr. Gore's sale of Current TV to Al-Jazeera, which is based in Qatar, was "selling out to big oil," Mr. Miller added.