Uber CEO Travis Kalanick Has Never Sold A Single Uber Share!

By on November 1, 2016 in ArticlesBillionaire News

Uber CEO Travis Kalanick addressed the crowd at the Vanity Fair New Establishment Summit recently, revealing some intriguing details about his personal and professional life.

The young entrepreneur has amassed a net worth of $6 billion after co-founding Uber only seven years ago. Uber is reportedly worth close to $70 billion.

At the Summit, the billionaire revealed that he doesn't even own a working car, and his driver's license has expired. So any image you might have in your head about him cruising around in a Maserati, forget about it. "A lot of people don't know, I've never sold a single Uber share," he said to those in attendance. Kalanick even admitted to still having a mortgage on his house.

(Steve Jennings/Getty Images)

(Steve Jennings/Getty Images)

Beyond his personal finances, he addressed some company-wide issues as well.

Uber, which has about 40 million paying riders each month and pays between $1.5 billion and $2 billion to drivers monthly, recently made a huge deal with Chinese competitor Didi Chuxing. Kalanick still believes it was the right choice, saying, "We invested $2 billion, and it's very clear it's worth at least 7, maybe even 10…that's a good return in 2 years' time."

The talk also addressed the up-and-coming issue of self-driving vehicles, which the company still hasn't quite pinned down. Kalanick indicated that the company will probably lease or sell the self-driving vehicles to drivers instead of owning and operating them, but the details are very much still in the works.

Articles Written by Joshua R. Wood
Josh lives north of Pittsburgh with his wife and two dogs in a house they renovated together. Before moving to Pittsburgh, he received a degree in Creative Writing from West Virginia University, and he's currently working toward a Master's in English Literature at Duquesne University. Josh's passions include writing, photography, nature, disc golf, and rebuilding anything that's broken.
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