Former US vice president Al Gore nets £19m Apple windfall
Al Gore, the former US vice-president, has netted a £19m windfall following the maturation of a share package awarded to him a decade ago by the tech giant’s late founder, Steve Jobs.
Last week Gore exercised his right to purchase 59,000 Apple shares for $7.475 dollars each – massively less than their current $500 valuation – their lowest point in almost a year after hitting $700.
It means that the $440,000 investment has now grown to $29.5m in just ten years.
According to Forbes the deal means that Gore is now wealthier than defeated Republican presidential candidate Mitt Romney with an estimated private wealth of $300m.
Gore recently benefitted from the sale of Current TV, a cable channel he founded in 2005, to Al Jazeera for up to $500m – a deal which netted him a further $50- £100m.