Having seen that play out in real life before, I don't think he'd be as much of an asset as a liability. The problem with white hats is they need to have an interest in following some set of rules. With this guy it sounds more like his rule set is defined by whatever he finds interesting with little concern for legality or what others might find acceptable.

It's similar to the problem with the asshole genius programmer. You can keep him around because he's a genius but being an asshole in a position of authority over others (by virtue of being a genius) will result in people not wanting to work for you and this can easily mean you're missing out in individuals or teams that would vastly outmatch the asshole genius.