The Rich Get Richer: Al Gore Buys 59,000 Apple Shares for Just $441,000

gore1Apple stock might be facing a sharp decline as of late, but it still sits at an impressive $500 per share as of writing. That mark is good enough for Apple to remain the world’s most valuable corporation, with quite a distance over second-place Exxon Mobil.

Unlike most other shareholders, Apple board member Al Gore is probably not too concerned about the steep drop in AAPL’s valuation. Gore has taken advantage of his board membership option to purchase 59,000 shares of Apple stock for just $441,000. 

Gore paid just over 7 dollars per Apple share, an incredible discount of over $490 off the price of the stock at face value. The shares he purchased are currently valued at $29.6 million, so it’s safe to assume that the former U.S. Vice-President just became a whole lot richer.

In 2003, Gore was awarded with 30,000 shares for joining the Apple board of directors. Since then, he has purchased Apple stock twice in 2008 and again now. Gore still has over 60,000 share options available, so long as he remains a board member with Apple.

[iSpazio via iClarified]

Post a response / What do you think?