After the end of the PED case in 2010, former cyclist Lance Armstrong distanced himself from the sporting world. He experimented with new things, especially business. At present, Lance does multiple businesses that deal with podcasts and online websites. One of the most profitable investments that Lance made was in Uber in 2009.
Lance Armstrong had a great cycling career until 2011. The former cyclist won several titles in 1996. However, that year he was diagnosed with testicular cancer. Lance recovered from his health condition within a year. After taking a break for two years, he made a comeback to the sport at the prestigious Tour De France. He won the competition for seven consecutive years. During this time, he was accused of using performance-enhancing drugs and was proven guilty in 2012.
How much did Lance Armstrong profit from investing in Uber?
After leaving his cycling career, Lance had to save his family’s life from the financial swamp. He was stripped of all the titles that he achieved as a cyclist. He did not have a plan ahead as well. During that time, with the advice of the investor, Chris Sacca, he invested $100,000 in Uber. The evaluation of the uber-sharing company then was $3.7 million.
The startup was a revolutionary business idea massively used by people. It also attracted investment from other investors. After going through the paperwork, Lance received a profit of $20 million. It solved Lance’s problems.
In an interview with AXIOS Austin in 2021, Lance talked about how the Uber investment made it possible for him to enjoy trips around the world. He stated:
Yeah, the Uber investment has let me do all sorts of things that might not otherwise happen.
How Much Did Lance Armstrong Make by Investing in Uber?
The current evaluation of Uber is $56.84B. It is one of the biggest startups in the world. Moreover, Lance has a net worth of $50 million, as he also made significant investments in other profitable ventures.
What is Lance doing now?
Apart from investing in profitable ventures, Lance is also involved in business. He has built a media organization known as WEDU. It has created two hit podcasts named, The Move and The Forward. Lance’s company also organizes nail-biting bike races in Texas and Colorado. Lastly, Lance’s company is also involved in selling cycling merchandise online.
Lance Armstrong made several smart decisions after going through a humiliating event in his career. What was your first reaction after news of Armstrong’s PED case broke? Let us know
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