How Much Did Lance Armstrong Make by Investing in Uber?

Published 11/24/2021, 12:01 PM EST

The legacy of Lance Armstrong is out there in the open. Once a phenomenal superstar in the cycling scenario later went down with a tarnished moment. After testing positive for doping, the former Tour de France champion got stripped of his seven consecutive titles. That left him with a shameful moment while losing a lot of endorsement deals. Thus, his career went on a downward spiral after that. However, with smart investments, he pulled himself up to save his family and himself.

Lance Armstrong made smart investment

Article continues below this ad

The famous cyclist opened up to Oprah, who listened to his tales of cheating in cycling. Hence, he lost around $200 million through endorsements while having different court trouble to go with it. With his life and family hanging in balance, Armstrong decided to invest in smart deals, which helped him secure his future. When a world-class athlete commits an offense, there is a nature for people to pull him down.

However, he grabbed onto his last rope of life!

During an interview with CNBC, he revealed how he invested in a venture capital fund that was investing in UBER. That apparently saved his family from being broke as he said it was “too good to be true” and “saved our family.”

What Is the Meaning of the Rainbow Jersey in Cycling?

He saves his family!

Article continues below this ad

In 2009, he invested $100,000 in Lowercase Capital. Chris Sacca gave him all the information so that his family can be safe and secure. Ironically, the ride-sharing startup, UBER, had a valuation of $3.7 million.

Without a doubt, it became an iconic startup which resulted in people investing heavily in it. It also filed confidential paperwork to become an IPO. Hence, it has the potential to have a net worth of $120 billion. Despite Lance not earning billions, he would get a considerable amount of millions for his investment. After all the fees and paperwork, Armstrong would receive $20 million. With his trust placed on Chris Sacca, Armstrong got through his problems and received a good deal with the venture capital firm.

Right now, his net worth is said to be $50 million as he made other significant investments with it. A smart piece of investment proved to be an important part of his life.

Article continues below this ad

WATCH THIS STORY- Michael Phelps, Usain Bolt, Simone Biles, and Other Olympic Stars’ Meanings on Urban Dictionary

SHARE THIS ARTICLE :

Written by:

Jacob Gijy is a US Sports and NBA writer at EssentiallySports. Gijy finished his Masters in Counselling Psychology and worked in a hospital for 2 years before his passion for sports compelled him to find his way to sports journalism. A fan of the great Tim Duncan, he is always ready to pick up a debate with anyone who does not offer the center the respect he deserves.

How Much Did Lance Armstrong Make by Investing in Uber?

Lance Armstrong made smart investment

Trending

“Ricky Starks and”: Triple H’s WWE Backed to Sign Three Top AEW Talents From Tony Khan Following Dynasty

‘RIP’ – Heartbroken Brother of John McEnroe Mourns ESPN Legend’s Tragic Death Who Last Tweeted About Coco Gauff

Despite Trading Zach Wilson, Sean Payton Rumored to “Throw Away” Broncos’ 2024 to Secure Shedeur Sanders as Russell Wilson’s Replacement

After Confirming Patriots Interest, JJ McCarthy Reveals Tom Brady Was Speaking to Him Throughout National Championship Winning Season

Travis Kelce’s Mom Donna Joins $400M Rich Businesswoman for ‘Over 50 & Fabulous’ Venture

He saves his family!