Former Uber boss Travis Kalanick officially a billionaire


After selling 29 per cent of his stake for $1.4bn

Uber co-founder Travis Kalanick is officially a billionaire after a group of investors, led by Japan’s Softbank, agreed to take a large stake in the ride-hailing firm.

The consortium closed its deal with Uber on Thursday when they bought a chunk of the company from existing shareholders as well as new shares in a $9.3bn (£6.7bn) deal. According to reports, Kalanick sold 29 per cent of his stake for $1.4bn to the group of investors.

An Uber spokesperson confirmed by saying: “We’re proud to have SoftBank, Dragoneer and the entire consortium in the Uber family. This is a great outcome for our shareholders, employees and customers.”

Kalanick, the co-founder of Uber, had resigned as CEO in June following a series of scandals involving alleged sexual harassment and discrimination in the workplace.

However, he remains a director at the company and has an estimated fortune of $4.74bn, according to Bloomberg.