Life has been good for former Vice President Al Gore. In addition to the $100 million he bagged by selling his cable network Current TV just before the end of 2012, he could make a pretty penny by selling some Apple stock he just acquired – as in $30 million.
On Tuesday, Gore exercised an option to buy 59,000 shares of Apple stock at a measly $7.475 a share, which cost him about $441,000, according to a Securities and Exchanges Commission report filed Friday.
Apple’s current common share price hovers around $500, which means Gore’s acquisition was instantly worth $29.75 million. A crucial 2012 earnings report next week could determine whether Gore sells the stock.
Gore could have easily financed the Apple stock purchase at current market price. Since selling Current TV to Al Jazeera, the Qatar-based news organization, for $500 million increased, his 20 percent stake in the deal boosts his net worth to almost $300 million.