After he admitted doping and was stripped of his seven Tour de France titles, Lance Armstrong was generally expected not only to live out a life of shame but also to suffer financialy. But it turns out the disgraced cyclist is on track for a massive windfall.
Armstrong discussed his post-scandal finances during an interview with Andrew Ross Sorkin for CNBC, revealing that he stands to make a lot of money from an investment in Uber.
Armstrong declined to estimate how much he stands to make, but The New York Post broke it down:
“The Texas native invested $100,000 with a venture capital firm in 2009, the bulk of which went to the ride-sharing app that he says was valued at just $3.7 million at the time,” The Post reports. “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, simply telling CNBC the number is ‘too good to be true’ and ‘it’s saved our family.’”
Here’s a clip of Armstrong talking finances with Sorkin …