Skip to comments.Al Gore Nets Another Fortune on Apple Stock [Buys 60,000 Shares Valued @ $7.48/Share!]
Posted on 01/18/2013 9:01:18 PM PST by Steelfish
Al Gore Nets Another Fortune on Apple Stock By Javier E. David Former U.S. vice president Al Gore recently netted a huge payday by selling his cable station. Now, it appears he's making another big profit buying Apple's (AAPL) stock on the cheap.
Al Gore According to a filing with the Securities and Exchanges Commission, Gore -- a director on Apple's board -- exercised an option to purchase nearly 60,000 shares of the tech giant at the bargain basement price of $7.48, costing him a total of about $445,000.
But with Apple's current market price at about $500 a share, Gore's holdings are worth $29.75 million, giving him a huge windfall-on paper at least. Gore, however, could easily afford to buy Apple's stock at the prevailing market price.
In early January, the environmental crusader sold his Current TV venture to Qatar-based news organization Al Jazeera for $500 million. Published reports say the sale of Gore's 20 percent stake in the network - worth an estimated $100 million - would bring his net worth to about $300 million
(Excerpt) Read more at finance.yahoo.com ...
From what I understand, the board must grant the options, one can’t just procure them on their own. The board thought it was worth it, for whatever reason.
If you had accumulated options to purchase Apple stock at a particular price, you could hold on to those options for years ( or even decades). If he had exercised those options in September when the stock peaked, he would have made an additional $6,000,000 and would have been able to keep more of it because of the Bush tax rates on capital gains (15% vs. the 20.0% Obama rate).
You can purchase options on the options exchange.
Another rich socialist, Democrat! Al Bore’s motto is: “Do as I say, not as I do peasants! Now, I want my happy ending, I get one with every massage or I will let the Earth burn to a crisp!”
Everyone knows, Apple is going down bigtime. He is excercising his options to get out.
Big difference-iGore didn’t purchase the options.
They were a political payoff to him, no doubt in part because of his advocacy of the Global Warming® scam, which the other liberals at Apple, including Steve Jobs, had swallowed whole.
Yup. The DC Corruption Racket, Inc.
Tax the bejudas out of him..........
Seems to me awhile back that Apple was big in public schools.
Maybe he's cashing in because he knows he's getting booted off the board, now that his protector has passed away.
Interesting I'm saying, that's all, just interesting.
Al says: “Being a POTUS is for suckers, I’ve got more moolah and better hookers than those Clinton parvenues!”
Algore, the great capitalist, alpha male, and sex poodle.
Options. He was given/awarded/paid 60K shares for his directorship at a price of $8 that probably fully vested recently or were about to expire.
Al to FReepers: “Hey, get off my case, I didn’t have to kill Vince Foster to get here, and my kids are my own, not Webb Hubbell’s!”
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