How Did An Early Uber Investment Save Lance Armstrong and His Family From Financial Crisis?

In the prime of his career, Lance Armstrong was a household name across the globe. After all, he was a hero, and his story inspired millions. There was a time when Armstrong was not at his best, and Uber helped him.

Armstrong battled against cancer 

Armstrong battled against cancer to emerge victoriously and went on to compete in the grueling Tour de France. In fact, the American cyclist dominated the annual bicycle race by winning it a record seven times.

When Armstrong came under the doping controversy

Throughout his career, he was caught up in controversy around performance-enhancing drugs. In the end, two years after his retirement in 2011, Armstrong went on and admitted to having used PEDs during his career.

How did the doping controversy affect Lance Armstrong and his net worth?

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Due to the scandal that broke out following Armstrong’s confession, he lost most of his sponsors. Thus, his net worth at the time took a huge dip. 

Uber investment saved Armstrong’s family

Lance’s fall from grace cost him millions of dollars in fines, settlements, and lost endorsements. Talking to CNBC, Lance Armstrong admitted how it was his initial $100,000 investment in Uber that kept his family afloat.

A thankful settlement of Armstrong

Armstrong’s case gone to trial, he would have lost around $100 million to the federal government in damages. Thankfully for the 50-year-old, he reached a $5 million settlement, which made the total of his damages and fines for doping around $25 million.

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