These days, it seems that everyone -- even those elusive "super-rich" billionaire moguls -- has lost a tremendous amount of money due to the current world-wide financial meltdown. But at least one creative entrepreneur has managed to enrich himself handsomely over the last eight years and even keep his future money-making prospects sky-high.
It is Sir Richard Branson? George Soros? Oprah?
Nope. Al Gore.
According to the blog Pro Patria, Gore's "Big Green" business ventures and personal appearances have put nearly $100 million in his pockets during the last eight years:
So just what has Al Gore gained from his Big Green escapades? According to public disclosure information, Gore was worth somewhere between $1 million and $2 million in 2000. Not quite eight years later, Gore is estimated to be worth somewhere in the neighborhood of $100 million. While I ordinarily would applaud such financial gains from such a short period of time, I can't help but to question just how it happened. When you look out at what Al Gore has done, it's evident that he figured out on a way to capitalize on the creation of Big Green while becoming the official doomsday prophet that has helped to build Big Green into the monetary powerhouse that it has become.
How did he do it? The workings of Generation Investment Management are a bit too complex to explain briefly, but Gore and former Goldman Sachs executive David Blood founded GIM as a money management and venture capital firm that invests its portfolio in businesses that place a high priority on environmental responsibility and sustainability. GIM also facilitates the trading of carbon credits; in fact, Gore buys his personal carbon credits through GIM.
Al Gore is also on the board of directors of the World Resources Institute. I'll let Pro Patria fill in the details:
This organization is an environmental "think tank" worth over $55 million and has a donors list that includes Generation [Investment Management], Google, and the United Nations. Interestingly, aside from the $10 million that went into salaries and benefits (plus another million in travel), I can't actually figure out how they spend their money. According to their 990 form, they spend a whole lot of time developing strategies for climate and pollution programs, ecosystem and people programs etc. But they do have nearly $40 million in investments, which includes $18 million in LLC partnerships (which means they have $18 million invested in private companies) which they do not disclose. Personally I am dying to know what that $40 million is invested in, but they do not disclose those details nor do they have any SEC filings (which means they hide their tracks).And finally there is Gore's pet project, the Alliance for Climate Protection, which has the least amount of transparency of any organization I have ever seen. They do not provide any information on their website regarding their donors or finances nor have they responded to any of my requests for information or for a copy of their 990 form. I do know this much, though: Not only does Al Gore chair this organization, he also donates to these guys and gets to deduct the donations from his taxes. So when he donated his Nobel prize money (wasn't that nice of him?) he was actually getting not only a tax write off, but the money went right back into his own organization!
So while the rest of us face the very real prospect of toiling away under the burden of President Obama's proposed "cap and trade" carbon tax scheme, Al Gore and his banking kingpin partners will be making out like bandits. Must be nice. Pro Patria sums it all up:
In any other industry this would be considered a severe conflict of interest. In essence, Al Gore has helped to create a fictitious catastrophe, then told everybody what the solutions have to be, and then put himself in a position to capitalize on the hype. It's not only seriously dishonest, but many people and industries are going to suffer in the wake of this hype while Gore and Big Green bring in millions (and in some cases, billions) of dollars in green money.
(h/t Gateway Pundit)
Comments (17)
After listening to the moro... (Below threshold)1. Posted by apb | April 27, 2009 3:22 PM | Score: 7 (7 votes cast)
After listening to the moron left soil themselves for 8 years over Cheney/Halliburon, it'll be refreshing to hear them soil themselves over Gore/Generation ...
Would be very refreshing...
Any time now...
Aww c'mon now - Gore and his banking buddies, ripping off the common man. Even the most dope-addled lefty ought to be out marching against this guy.
1. Posted by apb | April 27, 2009 3:22 PM |
Score: 7 (7 votes cast)
Posted on April 27, 2009 15:22
2. Posted by jp2 | April 27, 2009 3:34 PM | Score: -10 (12 votes cast)
Odd that a Republican would criticize someone making money via business...but doesn't 100% of his green profit (including the movie) go into a non-profit foundation? Or were you not paying attention to his hearing the other day?
2. Posted by jp2 | April 27, 2009 3:34 PM |
Score: -10 (12 votes cast)
Posted on April 27, 2009 15:34
3. Posted by JLawson | April 27, 2009 3:57 PM | Score: 7 (9 votes cast)
Snake oil's pretty darn profitable, isn't it!
3. Posted by JLawson | April 27, 2009 3:57 PM |
Score: 7 (9 votes cast)
Posted on April 27, 2009 15:57
4. Posted by Rick13 | April 27, 2009 4:23 PM | Score: 6 (6 votes cast)
"Dear Leader" must be very proud of him!
4. Posted by Rick13 | April 27, 2009 4:23 PM |
Score: 6 (6 votes cast)
Posted on April 27, 2009 16:23
5. Posted by Mac Lorry | April 27, 2009 4:30 PM | Score: 6 (6 votes cast)
The science of climate change keeps changing and there's a good possibility that by 2013 and more likely by 2017 the real cause will be known and it might not have anything to do with carbon (CO2). The new administration should then call for an investigation into the great global warming scam to determine who is guilty of pushing that economically destructive plan on the American people. Like Madoff, the government should confiscate their ill-gotten gain and lock them up.
Well, that won't happen because the United States is not some banana republic that criminalizes policy differences with prior administrations. That's right isn't it Obama?
5. Posted by Mac Lorry | April 27, 2009 4:30 PM |
Score: 6 (6 votes cast)
Posted on April 27, 2009 16:30
6. Posted by 914 | April 27, 2009 4:32 PM | Score: 5 (7 votes cast)
"but doesnt 100% of his green profit (including the movie) go into a non profit foundation?"
Ummm No and yes. All the profits go into his back pocket which he claims are a non profit foundation.
6. Posted by 914 | April 27, 2009 4:32 PM |
Score: 5 (7 votes cast)
Posted on April 27, 2009 16:32
7. Posted by 914 | April 27, 2009 5:39 PM | Score: 4 (6 votes cast)
"8 years later Gore is estimated to be worth in the neighborhood of 100 million."
Speaking of pigs, casting pearls before the swine has never been more apropos
7. Posted by 914 | April 27, 2009 5:39 PM |
Score: 4 (6 votes cast)
Posted on April 27, 2009 17:39
8. Posted by GarandFan | April 27, 2009 6:09 PM | Score: 6 (6 votes cast)
"..doesn't 100% of his green profit (including the movie) go into a non-profit foundation? Or were you not paying attention to his hearing the other day?"
JP, you actually believed him when he opened his mouth? What was your take on his refusal to answer questions? And don't say holding up a copy of the NYT's was 'answering' a question.
8. Posted by GarandFan | April 27, 2009 6:09 PM |
Score: 6 (6 votes cast)
Posted on April 27, 2009 18:09
9. Posted by yW | April 27, 2009 7:30 PM | Score: -4 (4 votes cast)
Gore's "Big Green" business ventures and personal appearances have put nearly $100 million in his pockets during the last eight years:
Al Gore was one of the first politicians to speak out against global warming...society is rewarding him for his wisdom.
9. Posted by yW | April 27, 2009 7:30 PM |
Score: -4 (4 votes cast)
Posted on April 27, 2009 19:30
10. Posted by 914 | April 27, 2009 7:43 PM | Score: 1 (1 votes cast)
If that were true y2kw id be a trillionaire by now.
10. Posted by 914 | April 27, 2009 7:43 PM |
Score: 1 (1 votes cast)
Posted on April 27, 2009 19:43
11. Posted by Tina S. | April 27, 2009 7:58 PM | Score: -2 (2 votes cast)
All the profits go into his back pocket which he claims are a non profit foundation.
914, do you have any reason to believe they are not actually non-profit?
11. Posted by Tina S. | April 27, 2009 7:58 PM |
Score: -2 (2 votes cast)
Posted on April 27, 2009 19:58
12. Posted by Tina S | April 27, 2009 8:11 PM | Score: -2 (2 votes cast)
Snake oil's pretty darn profitable, isn't it!
I bet you also believe the 7 tobacco company executives who testified before congress in 1994 that cigarettes are non-addictive. Some people are so gullable.
12. Posted by Tina S | April 27, 2009 8:11 PM |
Score: -2 (2 votes cast)
Posted on April 27, 2009 20:11
13. Posted by 914 | April 27, 2009 8:12 PM | Score: 3 (3 votes cast)
I have every confidence and faith that Al Gore is a cheating conniving swindling con/scam artist player b.s.er as I have ever witnessed.
13. Posted by 914 | April 27, 2009 8:12 PM |
Score: 3 (3 votes cast)
Posted on April 27, 2009 20:12
14. Posted by yW | April 27, 2009 8:19 PM | Score: 2 (4 votes cast)
I have every confidence and faith that Al Gore is a cheating conniving swindling con/scam artist player b.s.er as I have ever witnessed.
A democrat could never get away with making a comment like that. It would get deleted and the person who wrote it would be banned from this site.
depp=true
notiz=Not banned sockpuppet, disemvoweled.
14. Posted by yW | April 27, 2009 8:19 PM |
Score: 2 (4 votes cast)
Posted on April 27, 2009 20:19
15. Posted by 914 | April 27, 2009 8:28 PM | Score: 3 (3 votes cast)
Your right yW
A democrat would never get caught speaking the truth.
15. Posted by 914 | April 27, 2009 8:28 PM |
Score: 3 (3 votes cast)
Posted on April 27, 2009 20:28
16. Posted by James Cloninger | April 28, 2009 12:06 AM | Score: 1 (1 votes cast)
Odd that a Republican would criticize someone making money via business...but doesn't 100% of his green profit (including the movie) go into a non-profit foundation? Or were you not paying attention to his hearing the other day?
A non-profit that happens to be chaired by Gore, I betcha.
16. Posted by James Cloninger | April 28, 2009 12:06 AM |
Score: 1 (1 votes cast)
Posted on April 28, 2009 00:06
17. Posted by JLawson | April 28, 2009 9:57 AM | Score: 2 (2 votes cast)
Tina S -
Based on articles about the garbage in tobacco smoke in Popular Science in the '60s I was trying to get my folks to stop smoking back then when I was 8 or 9. It took my father having his first heart attack in '73, and my mother getting breast cancer in '80 to get them to stop on advice of their physicians.
What some dumb-ass who's looking to maintain profits for their companies says in Congress is one thing. What comes out of a test filter is something else - I tend to discount hype and try to find the reality on a controversial subject.
Concerning global 'warming' - I find it VERY interesting that (a) the globe actually seems to be cooling, not warming, (b) the sun is in a VERY quiet period and shouldn't be, (c) NASA's coloring pictures so a difference in Antarctica's observed temperature spread of .2c goes from dark blue to bright red, on a continent where -60c is seen as a friggin' heat wave, and the sensors THEMSELVES have a 2-3 degree error, and (d) Gore just HAPPENS to come out with a company that sells indulgences for your evil carbon use as he's promoting the "Global Warming Will Kill us ALL!!!!1!" scam.
I'll believe Gore thinks it's a crisis when he starts living like Ed Begley Jr. Until then, he's selling snake oil.
17. Posted by JLawson | April 28, 2009 9:57 AM |
Score: 2 (2 votes cast)
Posted on April 28, 2009 09:57