Uber co-founder Travis Kalanick a billionaire after $9.3bn investment deal
Uber co-founder Travis Kalanick will become a billionaire, after investors agreed to take a large stake in the ride-hailing firm.
A consortium led by Japan’s Softbank is buying a chunk of the company from existing shareholders as well as new Uber shares in a $9.3bn (£6.7bn) deal.
Mr Kalanick, who stepped down as chief executive in June, is selling $1.4bn worth of stocks, it is widely reported.
While he had long been worth billions on paper, this deal cements his wealth.
Mr Kalanick was driven out of the top job by a series of scandals, but his ties with Uber remain strong.
He remains a director at the company and is offloading less than a third of his holding – meaning he still has a stake that’s currently worth about another $3bn.Disclaimer:We do not allow users to post content which is copyright and We take strict actions against the users who post infringement content on our website.Although we do not host any content, users post embed videos from youtube, facebook, Dailymotion and Vimeo and are moderated before posting but we still take strict action against the copyright videos posted.If you are an official representative of any company whose videos are posted illegally on our website or you think some video infringe the copyright then you can simply send an email to firstname.lastname@example.org