Former Vice President and owner of Current TV Al Gore knows a good investment when he sees it. And despite the $100 million payout he received from Al-Jazeera, which recently acquired Current TV in an unexpected deal, Gore is now cashing in on Apple.
As Seth Fiegerman of Mashable reports:
Gore, who holds a position as a director on Apple's board, exercised options to purchase 59,000 shares of Apple stock on Jan. 15 for the insanely low price of $7.475 a share, according to a company filing with the Securities and Exchange Commission on Thursday. Based on Apple's current share price of about $500, Gore effectively purchased $29.5 million worth of Apple stock for just $441,000.
To paraphrase singer Billy Paul: Let the dollars circulate.