- Lance Armstrong made a $100,000 investment in Uber when the company was worth $3.7 million.
- The company is now estimated to be worth $120 billion.
- Armstrong declined to say how much his investment is worth today, but said it’s “too good to be true” and “saved” his family after he paid millions in lawsuits following his doping scandal.
Lance Armstrong’s early investment in Uber has paid off big time.
In an interview with CNBC on Thursday, Armstrong revealed that in 2009, he made a $100,000 investment in Chris Sacca’s venture capital firm, Lowercase Capital. His investment was then mostly spent on Uber, which at the time had a valuation of $3.7 million.
Today, banks estimate Uber to be worth $120 billion, as its preparing for its first IPO.
Armstrong declined to say how much the investment is worth today, but called it “too good to be true.”
“It’s saved our family,” Armstrong said.
Armstrong lost millions in lawsuits and broken endorsements in the wake of his doping scandal. According to The Guardian, he had paid as much as $20 million in lawsuits and settlements.
Armstrong is now starting his venture fund called Next Venture, which will invest in sports, nutrition, and wellness markets.
- Read more on Lance Armstrong:
- Lance Armstrong told an incredible story of how he paid all the tabs at a crowded bar after they chanted ‘f— you’ at him
- WHERE ARE THEY NOW? The Lance Armstrong team that dominated the Tour de France
- The trailer for the new bike-racing mockumentary ‘Tour de Pharmacy’ stars Andy Samberg and has a cameo by Lance Armstrong, and it looks kind of sad
- Lance Armstrong dismisses death hoax on Instagram