Lance Armstrong Net Worth: Professional Career & Earning

What Is Lance Armstrong Net Worth? Lance Armstrong is a well-known former American professional road racing cyclist who was humiliated after a drug scandal. He was formerly considered one of the most important and influential athletes of the 21st century, having won the famous Classico San Sebastian for the first time and being ranked No. 1 in the world in 1996. At the skyscraper of his career, Armstrong was diagnosed with potentially fatal metastatic testicular cancer and battled the disease against all the odds to survive. He returned to cycling after his cancer scare and went on to win even more medals.

Armstrong created a name for himself in sports by winning the Tour de France seven times in a row from 1999 to 2005. Before getting retired at the end of the 2005 Tour de France, he accomplished a great deal in his remarkable riding career. He returned to competitive cycling a few years later, finishing third in the 2009 Tour de France. In 2012, the US Anti-Doping Agency charged him with using performance-enhancing substances, which tarnished his reputation. For his cycling accomplishments and heroic battle against cancer, he was regarded as a hero at the time of his retirement. Edward was stripped of his seven Tour de France titles, and he is currently banned from competing in any cycling events, including the Olympics.

Lance Armstrong Net Worth:

What Is Lance Armstrong Net Worth? Lance Armstrong, an American competitive cyclist, author, and public speaker, has a net worth of $50 million as of 2022. At the height of his career, Lance’s net worth was $125 million, and it was continuously climbing. Lance was once called one of the world’s highest-paid athletes, with endorsements and prize money totaling more than $20 million per year. For several years following his retirement, Lance continued to earn roughly $15 million per year through speaking engagements, public appearance fees, and sponsorships before his problems were fully apparent.

Armstrong was officially banned from professional cycling in October of 2012, as almost everyone knows when allegations of steroid use surfaced. Lance was obliged to give up his seven Tour de France championships as well as all of his major brand sponsors, including Nike, Oakley, Trek, and Anheuser Busch. During his career, however, Lance has been an inspiration to millions of cancer patients all around the world. Since its establishment, his cancer organization, with which he is no longer connected, has raised approximately $500 million for research.

Lance estimated that the loss of sponsorship deals from the scandals might cost Lance $75 million in terms of lost endorsements, legal costs, and lawyer bills during his interview with Oprah Winfrey in January 2013, when he publically admitted to doping. If the case had gone to trial, the US government might have sued Lance for $100 million. Lance eventually agreed to a $5 million settlement in the lawsuit.

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Lance Armstrong Uber Investment:

Lance told CNBC in December 2018 that his early investment in Uber had “saved” his family’s finances over the previous five years. When Uber was valued at $3.7 million, Lance put $100,000 into the company. He had no idea what Uber was at the time and assumed he was buying shares in Twitter through Chris Sacca’s venture capital firm when he made the transaction. The corporation has a private valuation of very high $120 billion as of December 2018.

Lance wouldn’t say how much his Uber investment was worth, but given how early he got engaged, it’s likely very valuable now. Many shady news outlets jumped to the conclusion that Lance is probably surely a billionaire as a result of his Uber investment as soon as they heard the news. As cool as that would be, it’s not true. Lance’s Uber stake is only worth $30 million, according to a Bloomberg study. After fees, it’ll probably be closer to $20 million. It’s still a fantastic return on a $100,000 investment.

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More About Lance Armstrong:

Lance Edward Gunderson was welcomed to the world on September 18, 1971, to Linda Gayle and Eddie Charles Gunderson. When Lance was two years old, his parents split, and his mother remarried Terry Keith Armstrong, a wholesale businessman, in 1974. At a young age, Edward grew interested in athletics and excelled in both swimming and cycling. As a youth, he participated in triathlons and swimming competitions, and at the age of 16, he became a professional triathlete.

After overcoming a potentially fatal form of illness, Armstrong founded the Lance Armstrong Foundation in 1997 to assist individuals affected by cancer. The charity has raised more than $325 million for cancer research. He developed the ‘LiveStrong’ brand and store in 2004, which raised a considerable amount of money for his cancer charity. With prominent athletes like Andre Agassi, Muhammad Ali, Warrick Dunn, Jeff Gordon, Mia Hamm, and Tony Hawk, he co-founded Athletes for Hope in 2007. By aiding professional athletes in becoming involved in humanitarian efforts, the organization hopes to inspire non-athletes to volunteer and serve the community.

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