23rd January 2013
What do you do right after selling your company for a half-billion dollars? If you’re Al Gore, you go ahead and make another small fortune from Apple stock.
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. That’s a pretty big discount and one that Gore probably doesn’t need.
Sometimes it is good to be a Child of the Crust.