If one wants to learn how to become a top notch crony capitalist, one could do worse than mentoring under Al Gore. In 2000 Al Gore was “worth” (I hate the term) $1.7 million dollars. Now, 12 years later, after parlaying his name and connections in the name of environmental responsibility, he is worth $200 million.
In certain circles Al Gore is a great guy who only lost to George Bush because the election was stolen from him. (For the record I am no fan of GW Bush but the real scandal in Florida was the news channels calling the state for Gore in a very tight state race, before polls closed in western Florida, a heavily Republican area. So no one should cry over Florida.) That he sold Current TV to Al Jazrera, which has been built on petrodollars, CARBON dollars, doesn’t seem to bother anyone in the “Gore’s a great guy” crowd. (Al Jazeera English is not a bad news source by the way.)
That the guy has made an amazing amount of money selling climate austerity but has a King Kong sized carbon footprint, doesn’t seem to bother many people either.
Gore even has a new beach house, which according to his calculations should be under water due to rising sea levels sometime next week.
Yet, by many, the guy is celebrated as a fellow who “did well, while doing good.”
I am all about doing well while doing good, it is practically a personal mantra, but if one is going to advocate for everyone else to tighten their belts in the name of stemming global warming, how about keeping it to only 2 mansions.
In all seriousness, why not sell off the other 2 (Gore has 4 at last count) and buy a piece of the Amazon rain forest the size of Connecticut? Seriously, this would be a good idea.
It always amazes me (though I am much more jaded these days and am amazed less often) that people who say they are for income redistribution, and regulation, and just generally gumming up the economy for entrepreneurs, always seem to worship wealth so long as the right boxes are checked on the way to riches. Or, alternatively if one simply just has the right last name.
Had Gore made all his money in tobacco, or guns, he probably wouldn’t be invited to the same parties he is now. But even then I don’t know. For some folks, all that matters is what people say in public. So long as a certain agenda is moved forward all is forgiven, over and over. Witness the Kennedys, the Clintons, and soon the Obamas.
By the time of the Capricorn investment, he was already starting to rake in cash from Generation Investment Management – - a fund that incorporates “sustainability” into its investment approach. Gore co-founded GIM in 2004 with former Goldman Sachs Group Inc. Managing Director David W. Blood.
Public filings show that in 2008 through 2011 London-based GIM racked up almost 140 million pounds ($218 million) in profits to be split among its 26 partners.
Gore and Blood as founders are thought to have the largest equity stakes. GIM doesn’t disclose partnership equity or how the partners split profits, said Richard Campbell, a spokesman.