Travis Kalanick Net Worth
Travis Kalanick net worth and salary: Travis Kalanick is an American entrepreneur who has a net worth of $6 billion dollars. Travis Kalanick was born in Los Angeles, California. He went on to study Computer Engineering at the University of California Los Angeles. He ultimately chose to drop out so he could co-found Scour, Inc., a multimedia search engine. His group also founded Scour Exchange, a peer-to-peer file-sharing program. Multiple film boards sued Scour, Inc., and the company subsequently filed for bankruptcy. In 2001, he launched Red Swoosh, another peer-to-peer file-sharing company. Red Swoosh eventually sold to Akamai Technologies for $19 million. In 2009, he co-founded Uber, a mobile application for searching and finding ride share and person-to-person car rentals in major cities. It currently operates hundreds of cities around the world and has been copied by a number of other similar rideshare apps. Uber's success transformed Travis into one of the most important and controversial tech CEOs on the planet. In June 2014, Uber raised a massive investment round that valued the company at $18.2 billion. The investment totaled $1.6 billion worth of financing from several different parties, most notably the mutual fund Fidelity Investments. At that valuation, Travis Kalanick officially became a billionaire with an implied ownership stake of 5.55%. At its peak as a private company, Uber was worth as much as $120 billion.
Ouster From Uber: In June 2017, Travis Kalanick was forced to resign as CEO of Uber after a barrage of controversies that had plagued the company for over a year. Soon after leaving the company he sold 30% of his shares for $1.4 billion to Japanese investment conglomerate, Softbank. That transaction combined with previous private sales made Travis an official liquid billionaire (as opposed to a paper billionaire).
Uber went public on May 10, 2019. By the end of trading the company was worth around $77 billion. At that level, his remaining Uber shares were worth $4.9 billion. Travis also sold 3.7 million shares at the IPO which generated around $170 million in cash. All combined, Travis Kalanick's net worth is $6 billion. He is still Uber's largest individual shareholder as of this writing.
|Net Worth:||$6 Billion|