Thursday, May 23News That Matters

Former Uber CEO Travis Kalanick Buys $43M Bel Air Estate

By Elite Reporter

Travis Kalanick,   the former Chief Executive Officer (CEO) of Uber, this week bought a palatial residential estate in Bel Air, Los Angeles, USA, at a whopping USD43M.

The Wall Street Journal has since revealed the true identity of an LLC that just paid USD43m for a house in Bel-Air as none other than Kalanick, who has since become the all new Fresh Prince of Los Angeles.

Kalanick also owns a 7,000 square foot penthouse apartment in New York that he picked up in 2018 for USD36.5m.

The apartment was still under construction at the time of purchase and will eventually include a private rooftop pool.

Stinking rich Kalanick sits on net cash (as opposed to paper stocks) of USD4Bn. While running Uber, he sold pieces of stock during various rounds of financing for billions of dollars. He was ousted as CEO in June 2017 after an outbreak of controversy.

Uber went public in May 2019, when Kalanick was still the company’s largest private investor.

In December 2019, almost exactly six months after the IPO when his lock-up prevented him from selling, Kalanick announced that he was leaving Uber completely and had sold 90% of his shares. It was good timing.

In April of the following year, with the booming Coronavirus crisis, these Uber shares lost 50% of their value, while he enjoys the billions he pocketed after the deal.

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