Tuesday, January 29, 2013

How Al Gore Became Richer Than Mitt Romney


Many high-ranking public officials make millions peddling their names and connections, but Gore has something extra, which the business world values at a steep premium. People hire him not just to lobby or give a speech; they enlist him as a partner or install him on their corporate boards. John Doerr pulled Gore into the legendary high-tech venture-capital firm Kleiner Perkins Caufield & Byers in the belief that he could help spot future winners in the green economy. The late Steve Jobs installed him on Apple's board, encouraged Gore's regular interventions around company headquarters in Cupertino, Calif., and compensated him with stock options that Gore recently exercised for nearly $30 million. . . .

Through these and other enterprises, Gore has built his net worth from roughly $2 million in 2000, when he reluctantly entered the private sector, to some $300 million, according to the scorekeepers at Forbes. By their measure, he is now richer than the renowned supercapitalist Mitt Romney.

à From Chads to Riches