Gyroscopic Investing

I have seen Al Gore's net worth listed as high as 300 million. How did a man who spent his entire career working as a "public servant" amass this fortune? Did he come from old money? Does anyone happen to know?

doodle wrote: I have seen Al Gore's net worth listed as high as 300 million. How did a man who spent his entire career working as a "public servant" amass this fortune? Did he come from old money? Does anyone happen to know?

Public speaking. And he's on the Board of Directors for Apple. Do the math.

Gumby wrote: Public speaking. And he's on the Board of Directors for Apple. Do the math.

I also heard he invented the internet, and maybe even global warming.

I'm sure he's sold a lot of books as well.

I thought he also had a green-centric hedge fund at some point.

I think that Tipper also probably made some money doing speeches and books while he was a public servant.

He actually didn't have very much money when he was Vice President. He earned the overwhelming majority of it after his political career.

Financial disclosure documents released before the 2000 election put the Gore family's net worth at $1 million to $2 million
Source: http://www.fastcompany.com/magazine/117 ... -gore.html

Gumby wrote: He actually didn't have very much money when he was Vice President. He earned the overwhelming majority of it after his political career.

I like Glenn Reynold's idea of heavily taxing federally elected politicians and high level appointees for five years after they leave their government position, given the lucrative opportunities that government service creates for these individuals. Call it a return on the taxpayer's investment.

http://pajamasmedia.com/instapundit/118348/

6 Iron wrote:

Gumby wrote: He actually didn't have very much money when he was Vice President. He earned the overwhelming majority of it after his political career.

I like Glenn Reynold's idea of heavily taxing federally elected politicians and high level appointees for five years after they leave their government position, given the lucrative opportunities that government service creates for these individuals. Call it a return on the taxpayer's investment.

http://pajamasmedia.com/instapundit/118348/

It's a fantastic idea. But, I'm guessing no politician would vote for it. 

On a somewhat related note, it's always surprising to hear how much personal wealth foreign heads of state have, often after having been in power for decades.

I always think to myself: "wow, if that guy was running the country all those years, when did he have time to make all that money?"  Answer: he didn't make all that money, he simply stole it from the people in one way or another, which is probably one reason that people in those countries tend to be so poor.

They either weren't doing their job very vigorously (hence finding time to make so much money) or were stealing money from us.  Neither sounds very appealing.