Former Uber CEO Travis Kalanick has reportedly raised $400 million from Saudi Arabia for a new startup. Here’s how he spends his $3.2 billion fortune, from a $36.4 million penthouse to a year-long trip around the world.

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Travis Kalanick is worth $3.2 billion.

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Travis Kalanick is value $three.2 billion.
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Reuters
  • Travis Kalanick, Uber’s ousted founder, will quickly be in direct competitors together with his earlier firm after elevating $400 million from Saudi Arabia for his new food-delivery startup, in keeping with The Wall Avenue Journal.
  • Travis Kalanick‘s internet value is $three.2 billion, in keeping with Forbes.
  • Kalanick retains his private life pretty below wraps, however he spends a lot of his fortune on actual property and journey.
  • He has no clear ventures into philanthropy.
  • Go to Enterprise Insider’s homepage for extra tales.

Travis Kalanick cofounded Uber in 2009. However, after a collection of scandals and a office tradition the place discrimination and sexual harassment had been the norm, Kalanick resigned as CEO in 2017.

Although he’s now not main the worldwide ride-hailing firm, Kalanick stays rich. He’s value $three.2 billion, in keeping with Forbes.

On November 7, The Wall Avenue Journal reported he quietly raised $400 million for a food-delivery startup in January. The startup, CloudKitchens, could be in direct competitors with Uber, the place Kalanick continues to be a director.

Right here’s how he spends his fortune:


Travis Kalanick presently has a reported internet value of $three.2 billion. A lot of that’s from holding 7% of Uber’s inventory.

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Justin Sullivan/Getty Photographs
Supply: Forbes

As Enterprise Insider beforehand reported, he was, up till lately, comparatively “cash-poor for a billionaire.” However his liquid property noticed a lift after he bought $1.four billion in Uber shares to Japanese tech large SoftBank.

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Kimberly White/Getty Photographs for Breakthrough Prize

Supply: Enterprise Insider


Kalanick grew up within the middle-income Los Angeles neighborhood of Northridge. He wished to be a spy when he grew up.

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David McNew/Getty Photographs

Supply: Enterprise Insider, LA Instances


Kalanick went to UCLA, however didn’t graduate. That’s as a result of he dropped out to assist discovered Scour, a peer-to-peer search engine.

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Kevork Djansezian/Getty Photographs

Supply: Enterprise Insider


Removed from rich at that time, Kalanick was accumulating unemployment checks whereas working full-time on Scour. A bunch of leisure corporations sued Scour for $250 million, forcing the start-up to fold.

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imgarcade.com

Supply: Enterprise Insider


Kalanick shortly rebounded with RedSwoosh, a networking software program firm that he known as his “revenge enterprise.” He co-founded Purple Swoosh in 2000, after which bought it for $23 million in 2007.

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Elijah Nouvelage/Getty Photographs

Supply: Enterprise Insider


The earnings from Purple Swoosh made Kalanick a millionaire. He took a yr off in 2007, after promoting the corporate, and went to Spain, Japan, Greece, Iceland, Greenland, Hawaii, France, Australia, Portugal, Cape Verde, and Senegal.

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Iceland’s Blue Lagoon.
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Shutterstock/S.R.Lee Picture Traveller

Supply: Enterprise Insider


The lavish life-style that adopted Kalanick’s sudden rise to millionaire standing within the late 2000s additionally helped foster the concept for creating Uber. He and his buddies spent $800 on a non-public driver one New Yr’s — so he began occupied with methods to make black cab service extra economical.

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Uber founder and former CEO Travis Kalanick
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Thomson Reuters

Supply: Enterprise Insider


Uber was then based in 2009. However these days, Kalanick has his personal personal driver. A collection of accusations towards the corporate’s office and ethics ultimately led to Kalanick leaving in 2017.

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Elijah Nouvelage/Getty Photographs

Supply: The New York Instances, Enterprise Insider


After Kalanick left Uber, he headed to Tahiti.

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Marconi Couto de Jesus / Shutterstock

Supply: Enterprise Insider, Recode


He sailed across the islands in a $70 million crusing vessel owned by media mogul Barry Diller and clothier Diane von Furstenberg. The boat, known as Eos, is 305 toes lengthy and may maintain 16 visitors and 21 crew members on board.

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snowwahine/YouTube

Supply: Recode, Each day Mail


Again on dry land, Kalanick splits his time between New York and his hometown of Los Angeles.

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Sean Pavone/Shutterstock

Supply: The Wall Avenue Journal


New York Metropolis, with its plentiful taxis, bike lanes, and public transit choices is an effective place for Kalanick to quiet down… as a result of, as of June 2016, the Uber co-founder reportedly solely had an expired driver’s license.

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Ryan DeBerardinis/Shutterstock

Supply: The Verge


However Kalanick does personal a 1999 BMW M3, albeit one with a damaged alternator. If he purchased when it was launched, it could have been $45,000.

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Steven Tyler PJs/Flickr

Supply: The Verge, Autotrader


Whereas we don’t know a lot about Kalanick’s Los Angeles pad, however we do know he simply purchased a $36.four million condominium in Manhattan. It’s the penthouse on the under-construction 565 Broome SoHo — a 30-story luxurious condominium constructing.

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565 Broome Soho/Fb

Supply: The Wall Avenue Journal, Elliman


Right here’s a rendering of what Kalanick’s penthouse will seem like. It’s 6,655 sq. toes with a 2,500-square-foot personal roof terrace. And there’s a 20-foot heated outside pool with 360-degree views.

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565 Broome Soho/Fb

Supply: The Wall Avenue Journal, Elliman


The penthouse has two flooring, 4 bedrooms, and four.5 bogs. There’s even an out of doors kitchen.

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565 Broome Soho/Fb

Supply: The Wall Avenue Journal, Elliman


Actual property is certainly the secret in Kalanick’s post-Uber world. In March, he purchased Metropolis Storage Techniques, which redevelops underused business, retail and parking websites, for $150 million. He then made himself CEO. “There are over $10 trillion in these actual property property that can should be repurposed for the digital period,” he tweeted after the acquisition.

Supply: Mercury Information


That acquisition was funded by Kalanick’s new funding fund, 10100. It’s devoted to funding promising corporations in e-commerce and actual property, in addition to rising tech in China and India.

Supply: Crunchbase


As for what Kalanick’s personal philanthropic efforts, it’s not clear how he offers again together with his $three.2 billion fortune, or what he intends to do together with his cash after he dies. A supply near Kalanick stated he has “no curiosity, from what I can inform, in philanthropy.”

Supply: New York Journal


As a substitute, he appears intent on doing good via capitalism. He’s talked about Uber packages the place presents are delivered to much less lucky youngsters through the holidays and provides delivered to displaced individuals leaving Syria.

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Uber automobile service on the streets of New York
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shutterstock/MikeDotta

Supply: Salesforce


In his new job main funding fund 10100, he stated in March that he’s specializing in “large-scale job creation.” However, because the LA Instances identified, it’s not clear what kind of jobs he plans on creating. “At Uber, Kalanick was criticized for kickstarting a complete sector of the tech business reliant on contract employees moderately than workers,” the LA Instances’ David Pierson wrote. “Uber itself is predicted to sometime substitute its drivers with autonomous autos.”

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Travis Kalanick
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Cash Sharma/AFP/Getty Photographs

Supply: LA Instances


On November 7, The Wall Avenue Journal reported that Kalanick quietly raised $400 million in January from Saudi Arabia’s sovereign-wealth fund for his new startup, CloudKitchens, a delivery-only restaurant firm. The deal might worth CloudKitchens at $5 billion and places Kalanick in direct competitors with Uber, which is at present scaling its Eats enterprise.

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Mike Coppola/VF17/Getty Photographs for VF

Supply: The Wall Avenue Journal, Enterprise Insider

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