Apple backdating scandal


15-Feb-2020 19:45

Nobel Prize Albert Arnold Gore Jr., 65, is a lot of things to a lot of people.Among friends and fans, he’s the progressive Democrat who should have been president, visionary author and Internet prophet, the man who more than anyone drove climate change to the centre of public consciousness.stock that he’d been granted for serving on the Cupertino, California-based company’s board since 2003.On paper, it was about a US-million payday based on the company’s share price on the day he claimed the options.That’s a pretty good January for a guy who couldn’t yet call himself a multimillionaire when he briefly slipped from public life after his bitterly contested presidential election loss to George W. Gore isn’t finished exercising his Apple stock grants.Those 59,000 are part of 101,358 Apple options and shares of restricted stock Gore has amassed, according to company filings, giving his total holdings a gross value of more than US.6-million today.Detractors see Gore as a limousine liberal, tiresome pedant and climate alarmist who lives a jet-setting, carbon-profligate lifestyle while preaching asceticism for everyone else.His work and writing on global warming have earned him a share of a Nobel Prize as well as a South Park cartoon parody in which he tries to scare school kids to his beliefs with a fictitious global-warming surrogate monster known as Man Bear Pig.

Two weeks later, Gore exercised options, at US.48 a share, on 59,000 shares of Apple Inc.Back in 2000, about US0,000 of his net worth was tied to two homes he and his then-wife Tipper owned in Virginia and Tennessee.Most of the rest had been recently inherited, including an undisclosed number of shares of Occidental Petroleum Corp.By the time of the Capricorn investment, he was already starting to rake in cash from Generation Investment Management — a fund that incorporates “sustainability” into its investment approach. Public filings show that in 2008 through 2011 London-based GIM racked up almost 140 million pounds (US8-million) in profits to be split among its 26 partners.

Gore co-founded GIM in 2004 with former Goldman Sachs Group Inc. Gore and Blood as founders are thought to have the largest equity stakes. The former senator, who spent most of his working life in Congress, had a net worth of about US

Gore co-founded GIM in 2004 with former Goldman Sachs Group Inc. Gore and Blood as founders are thought to have the largest equity stakes.

The former senator, who spent most of his working life in Congress, had a net worth of about US$1.7-million and assets that included pasture rents from a family farm and royalties from a zinc mine, remnants of his rural roots in Carthage, Tennessee.

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Gore co-founded GIM in 2004 with former Goldman Sachs Group Inc. Gore and Blood as founders are thought to have the largest equity stakes. The former senator, who spent most of his working life in Congress, had a net worth of about US$1.7-million and assets that included pasture rents from a family farm and royalties from a zinc mine, remnants of his rural roots in Carthage, Tennessee.

.7-million and assets that included pasture rents from a family farm and royalties from a zinc mine, remnants of his rural roots in Carthage, Tennessee.