If you want a poster child for corporate greed, you can look no further than Al Gore. After he failed to get enough votes to win Florida, and therefore the Presidential election in 2000, Apple co-founder Steve Jobs added him to the list of Yes Men on Apple’s board of directors.
A report out today says Al Gore cashed out about half of his Apple stock options in January to the tune of $30 million and has at least $15 million more. But that was his bonuses, that didn’t include his base pay. According to Reuters, during the height of the 2008 recession, Al Gore ‘only’ made $633,000 per year, or $127,000 per board meeting, since the board only met fives times that year. — However according to SEC filings, by 2010, his yearly compensation was back up to $1.3 million per year.
Looking at the numbers, Gore has made about $1,000,000 a year for the last 10 years to sit on a board that was famously paid to agree with Steve Jobs. And then he got $45 million in stock options as a bonus for a total of about $55 million. Considering the board meets about 5 times years, that’s just over $1,000,000 per day or $125,000 per hour.
So what has Gore done to earn that money? Gore’s most famous accomplishment was to lead the board’s investigating committee, which “cleared CEO Steve Jobs and current management of wrongdoing” in a stock option backdating scandal which Apple later admitted Jobs knew about.
When you’re Al Gore, Greed is good.
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