Former Uber CEO Travis Kalanick has sold half his stake in Uber—worth almost $1.5 billion—in past 2 weeks by bizcarson
Evan Agostini/Invision/AP
Former Uber CEO Travis Kalanick sold over half his stake in the company in the past two weeks, including a $578 million chunk of shares on Thursday. Kalanick has now sold shares worth $1.46 billion since Uber’s stock lockup ended on November 6. The end of the lockup gave employees and executives their first shot at selling since Uber’s public debut in May.
Since November 6, Kalanick has been selling steadily. He first cashed out the 22 million shares held in his charitable remainder trust, selling them for $610 million. Since then, he has sold an additional 30 million shares he holds personally for $850 million. Kalanick, an Uber board member, now owns 44.8 million shares, or just under 3% of Uber. A representative for Kalanick did not respond to a request for comment.
The stock sales give Kalanick more cash he can use to potentially fuel his new business, Cloud Kitchens. The
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