Investment has made Armstrong Uber rich again
Former cycling champion Lance Armstrong, whose fall from grace cost him millions of dollars in lawsuits and endorsements, said his investment in Uber Technologies had saved his family.
Armstrong, who was stripped of his seven Tour de France titles and banned for life from the sport for doping, gave $US100 000 ($A138 250) to a venture capital fund that invested in the ride-hailing company about 2009, a CNBC report said.
‘‘It’s saved our family,’’ Armstrong said.
Armstrong said in the interview he was not aware that he was investing in Uber, which at the time was worth $US3.7 million ($A5.1 million), when he gave money to venture capitalist Chris Sacca of Lowercase Capital.
Uber, which is preparing to go public next year, could be valued at $US120 billion ($A166 billion), according to proposals US banks bidding to run the offering have made.
Armstrong did not disclose how much his investment in Uber is worth, saying it was much more and ‘‘it’s too good to be true’’.
When the interviewer asked him if he had made ‘‘10, 20, 30, 40 or $50 million’’, Armstrong replied: ‘‘It’s one of those. It’s a lot, it’s a lot.’’
Armstrong won the Tour de France a record seven times, but the US AntiDoping Agency stripped him of his titles and banned him for life in 2012 after it accused him of engineering one of the most sophisticated doping schemes in sports.
The American later admitted to the cheating in a January 2013 televised interview with Oprah Winfrey.