Lance Armstrong says his investment in Uber ‘saved our family’

Wealth


After Lance Armstrong’s fall from grace cost him millions of dollars in lost endorsements and lawsuit settlements, one thing kept him on his feet: his investment in Uber.

“It’s saved our family,” Armstrong told CNBC’s Andrew Sorkin in an interview aired on Thursday. In 2009, the former pro cyclist invested $100,000 in Chris Sacca’s nascent venture capital firm, Lowercase Capital. Armstrong said the bulk of the money went to Uber, which at the time was valued at just $3.7 million. Today, as the company prepares for its IPO, banks have valued Uber at as much as $120 billion.

At the time he invested in Sacca’s firm, Armstrong said, “I didn’t even know that he did Uber. I thought he was buying up a bunch of Twitter shares from employees or former employees, and the biggest investment in [the] Lowercase fund one was Uber.”



Source link

Products You May Like

Articles You May Like

Saudi Arabia’s Tadawul joins global emerging markets indexes
Women are more likely to leave financial planning to their spouses
Fundstrat’s Tom Lee sees upside in stocks as US still in mid-expansion
Why women will fall short in retirement, even if they wait until 67
Stocks making the biggest moves midday: FedEx, Viacom, Tencent Music

Leave a Reply

Your email address will not be published. Required fields are marked *