The Rich Get Richer: Dianne Feinstein’s Husband Also Cashes in on Current Sale to Al Jazeera

Posted by on Jan 03, 2013 at 1:11 pm
blumfeinstein

Most of the attention today has been devoted to the obscene amount of money Al Gore walked off with selling his low-rated cable outfit to Al Jazeera. And who knows how much Gore even invested in the initial venture considering it was a $70 million investment with numerous partners back in 2004.

Finally, after nearly a year of nail biting and a cameo appearance by Barry Diller, who owned a part of the entities–Gore lobbied him in person–Gore and Hyatt snagged NWI in May 2004 for $70 million. (Their investment partners included former Goldman Sachs senior director Philip Murphy, who is now the Democratic finance committee chair; Richard Blum, husband of California Senator Dianne Feinstein; Sun Microsystems cofounder Bill Joy; and Bob Pittman, former chief operating officer of AOL Time Warner.)

Oddly though, today nobody seems to be asking DiFi about her hubby’s latest windfall.

Current TV’s investors included funds controlled by Los Angeles billionaire Ron Burkle and San Francisco money manager Richard Blum, according to a 2008 Securities and Exchange Commission filing when the company unsuccessfully sought to sell stock to the public. Blum is married to U.S. Senator Dianne Feinstein, a Democrat from San Francisco.

There’s no indication Blum ever divested himself (he’s still listed on their board, so how much did he rake in from this sale? It’s worth noting Burkle was once fast friends with Bill Clinton, though Burlke said hiring him was the dumbest thing he ever did.

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