Travis Kalanick is getting out of his Uber holdings uber quickly1 min read . Updated: 16 Dec 2019, 07:15 PM IST The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a fifth of his $3 billion fortune.
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.
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.
This story has been published from a wire agency feed without modifications to the text.