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Sports Lance Armstrong hit the jackpot with an early $100,000 investment in Uber

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Lance Armstrong paid millions in lawsuits and lost endorsements, but an early investment in Uber has "saved" his family.

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lance armstrong

(CNBC)

  • Lance Armstrong made a $100,000 investment in Uber when the company was worth $3.7 million.
  • The company is now estimated to be worth $120 billion.
  • Armstrong declined to say how much his investment is worth today, but said it's "too good to be true" and "saved" his family after he paid millions in lawsuits following his doping scandal.

Lance Armstrong's early investment in Uber has paid off big time.

In an interview with CNBC on Thursday, Armstrong revealed that in 2009, he made a $100,000 investment in Chris Sacca's venture capital firm, Lowercase Capital. His investment was then mostly spent on Uber, which at the time had a valuation of $3.7 million.

Today, banks estimate Uber to be worth $120 billion, as its preparing for its first IPO.

Armstrong declined to say how much the investment is worth today, but called it "too good to be true."

"It's saved our family," Armstrong said.

Armstrong lost millions in lawsuits and broken endorsements in the wake of his doping scandal. According to The Guardian, he had paid as much as $20 million in lawsuits and settlements.

Armstrong is now starting his venture fund called Next Venture, which will invest in sports, nutrition, and wellness markets.

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