Former cycling champion Lance Armstrong, whose fall from grace cost him millions of dollars in lawsuits and endorsements, said his investment in Uber Technologies Inc. had saved his family, according to a CNBC report.
Armstrong, who was stripped of his seven Tour de France titles and banned for life from the sport for doping, gave $100,000 to a venture capital fund that invested in the ride-hailing company around 2009, the report said.
“It’s saved our family,” Armstrong told CNBC in an interview that aired on Thursday.
Armstrong said in the interview he was not aware that he was investing in Uber, which at the time was worth $3.7 million, when he gave money to venture capitalist Chris Sacca of Lowercase Capital.
Uber, which is preparing to go public next year, could be valued at $120 billion according to proposals made by US banks bidding to run the offering.
Armstrong did not disclose how much his investment in Uber is currently worth, saying “it’s a lot more” and “it’s too good to be true”.
According to the NY Post it could be valued at close to 3 Billion.
Today, as the company prepares for its IPO, banks have valued it as high as $120 billion. That could make Armstrong’s shares worth more than $3 billion but he declined to reveal the exact figure.
When asked by the interviewer if he had made “10, 20, 30, 40 or $50 million”, Armstrong replied: “It’s one of those. It’s a lot, it’s a lot.”
Lance Armstrong is so smug, it’s really hard to like this guy.
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