Offbeat: Lance Armstrong says his investment in Uber saved his family - PressFrom - US

OffbeatLance Armstrong says his investment in Uber saved his family

18:05  06 december  2018
18:05  06 december  2018 Source:

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After his recovery, he founded the Lance Armstrong Foundation (now the Livestrong Foundation) At the age of 12, Armstrong started his sporting career as a swimmer at the City of Plano Swim Club UCI rules say a cyclist has to be in an anti-doping program for six months before an event, but UCI

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After Lance Armstrong's fall from grace cost him millions of dollars in lost endorsements and lawsuit settlements, one thing kept him on his feet: his investment in Uber.

"It's saved our family," Armstrong told CNBC's Andrew Sorkin in an interview aired Thursday. In 2009, the former pro cyclist invested $100,000 in Chris Sacca's nascent venture capital firm, Lowercase Capital. Armstrong said the bulk of the money went to Uber, which at the time was valued at just $3.7 million. Today, as the company prepares for its IPO, banks have valued Uber at as much as $120 billion .

At the time Armstrong invested in Sacca's firm, he said, "I didn't even know that he did Uber. I thought he was buying up a bunch of Twitter shares from employees or former employees and the biggest investment in [the] Lowercase fund one was Uber."

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Just as his involvement with Wapiyapi and his personal outreach to cancer survivors has allowed Armstrong to maintain a connection to something very meaningful to him in the face When I ask him if he'd be comfortable sharing some of the investments he's made on the record, he cryptically texts

Lance Armstrong , whose doping scandal led to his downfall from the top of cycling, says he is working to earn forgiveness and has changed In one story Armstrong shared, the disgraced cyclist said he was getting into an Uber in Denver in 2017 when a person sitting on a bar patio started

Armstrong declined to say how much his investment has turned into, but said the number is "too good to be true." In addition to losing lucrative endorsements, Armstrong has had to pay millions in settlements after it became clear the athlete was doping to improve his performance. In 2013, he confessed to the doping in an interview with Oprah Winfrey.

Armstrong dodged the most costly of lawsuits with a $5 million settlement announced in April. The federal government could have sought up to $100 million in damages had the suit gone to trial. He had previously paid over $20 million in damages and settlements across a series of lawsuits, according to the Guardian.

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This is interesting!