Travis Kalanick is getting out of his Uber holdings uber quickly

The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a fifth of his $3 billion fortune.
By : Bloomberg
| Updated on: 16 Dec 2019, 07:15 PM
Travis Kalanick (Photo courtesy: Twitter/@travisk)
Travis Kalanick (Photo courtesy: Twitter/@travisk)
Travis Kalanick (Photo courtesy: Twitter/@travisk)
Travis Kalanick (Photo courtesy: Twitter/@travisk)

Forget Black Friday or Cyber Monday. Travis Kalanick is having the sale of the century.

The Uber Technologies Inc. co-founder unloaded $350 million more of stock this month, bringing his proceeds to more than $2.1 billion since a share lockup ended Nov. 6.

The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a fifth of his $3 billion fortune, according to the Bloomberg Billionaires Index, down from about 75% before the lockup.

Co-founder Garrett Camp also has reduced his stake, though not on the scale of Kalanick. He’s sold about $35 million of shares, a fraction of his $2.1 billion holding. Another insider is taking the opposite approach. Chief Executive Officer Dara Khosrowshahi bought about $7 million worth of shares on Nov. 18.

First Published Date: 16 Dec 2019, 07:15 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city