Lance Armstrong’s Unknowing $100,000 Investment in Uber Saved His Family 9 Years Later

What happens when a world champion cyclist, once worth $125 million, loses everything? That’s the story of Lance Armstrong. At the height of his career, Armstrong was untouchable—seven Tour de France titles, massive endorsement deals, and a fortune that seemed unbreakable. But when the doping scandal that had long been whispered about finally exploded, it all came crashing down. His titles were stripped, his reputation shattered, and his lucrative sponsorships, including Nike, Oakley, and Trek, dropped him like a hot potato. Lawsuits followed, and Armstrong faced a flood of financial turmoil.
Before all that, Armstrong’s rise was nothing short of extraordinary. A triathlon champion by the age of 16, he turned pro in cycling in 1992 and quickly became a dominant force. However, doubts about his doping were persistent to the end of his career, and in fact, the entire career was tainted by allegations of substance abuse. Still in 2005, his 5-million-dollar contract for his sixth Tour de France was so controversial, and in 2010 he was accused by his former colleague Floyd Landis of doping. In 2012, the USADA accused Armstrong of doping, and after a long probe, they put him through a sanctions program that stripped his medal and banned him from cycling. His statement to Oprah Winfrey in 2013 that he had been using banned substances throughout his racing career ruined his reputation.
The fallout was massive. Armstrong was once estimated to be worth $125 million, but his fortune fell to $50 million as his sponsors deserted him. Companies wanted their money back for previous years, and Armstrong was being sued by companies and the U.S. government, respectively. They were doubly bereft, and for a while, it appeared that he had lost even his life. But here’s where the story takes an unexpected turn: Back in 2009, Armstrong had the opportunity to invest at the time; it seemed like a mistake, but it proved to turn into the very thing that saved him. He recently shared that that decision gave him something he could reconstruct when other aspects of his life had become a wreck.
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Five years ago, Lance Armstrong shared a story on CNBC that revealed how an investment in 2009 ended up changing his life. Armstrong recalled meeting Chris Sacca, a former Google and Twitter executive, who had a personality that was “larger than life.” As their friendship grew, Sacca started his own venture capital fund, Lowercase Capital, and reached out to Armstrong for investment. “He called me and said, ‘I’m looking for investors. Would you invest?’” Armstrong decided to take a chance, not realizing that this move would eventually save his financial future.
Armstrong’s $100,000 investment in 2009 went into a fund that was backing Uber, which at the time had a valuation of just $150.07 billion. “I didn’t even know that he did Uber. I thought he was buying up a bunch of Twitter shares from employees or former employees,” Armstrong admitted. That investment turned out to be a game-changer for Armstrong, especially after paying over $111 million in legal fees and settlements due to his doping scandal. As Uber’s valuation skyrocketed to $72 billion by 2019, Armstrong was able to recover financially and save his family. This came at a time when he was raising three children with his wife, Kristin Richard, whom he married in 1998 but divorced in 2003.
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While Armstrong didn’t disclose exactly how much he earned from his Uber investment, he gave a hint when asked if it was “10, 20, 30, 40, or $50 million,” replying, “It’s one of those.” Reflecting on the success of his investment, Armstrong described it as “too good to be true.” But at the same time, his life to this point hasn’t been easy!
Lance Armstrong turned his life around after cancer
Lance Armstrong’s journey is honestly wild. He kicked things off in the early 90s, winning the U.S. Amateur championship in 1991 and turning pro the next year. He was the first to win the title of the World Road Race Championship before he made the record in 1993 as the youngest to have achieved the feat. Then in 1996, the tables were turned—he was diagnosed with testicular cancer that had metastasized to the head, lungs, and abdomen. But guess what? He didn’t give up easily, because instead, he struggled like a warrior. He got back from cancer and dominated the Tour de France like him. He retired in 2011, but his accomplishments can hardly be rivaled.
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Though Armstrong has now retired from cycling, he does not seem to have gone into oblivion. In 2008 he decided that he needed to open a bike shop, and, as everyone knows, if you are going to have a bike shop, it’s got to be called Mellow Johnny’s, and then since there is a cafe next door, why not combine the two along with a beer garden? This is where he really comes out and shows who he is after he fought cancer off the field. The best part is, in 1997, he formed the Lance Armstrong Foundation, now known as Livestrong, to support cancer-fighting and survivors. It isn’t all about race in his life—it is far more about comebacks, reinventing himself, and giving back.