Lance Armstrong on Uber: Investment saved my family

Uber investment: Lance Armstrong stands to make 'a lot'
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Frank Pingue7 December 2018

Former cycling champion Lance Armstrong says his early investment in Uber has “saved” his family.

Armstrong, who who lost millions of dollars in lawsuits, was stripped of his seven Tour de France titles and banned for life from the sport for doping.

He gave $100,000 (£78,000) to a venture capital fund that invested in the ride-hailing company around 2009.

"It's saved our family," Armstrong told CNBC in an interview that aired on Thursday.

Armstrong said in the interview he was not aware that he was investing in Uber, which at the time was worth $3.7 million, when he gave money to venture capitalist Chris Sacca of Lowercase Capital.

Uber, which is preparing to go public next year, could be valued at $120 billion according to proposals made by US banks bidding to run the offering.

Armstrong did not disclose how much his investment in Uber is currently worth, saying "it's a lot more" and "it's too good to be true".

When asked if he had made "10, 20, 30, 40 or $50 million", Armstrong replied: "It's one of those. It's a lot, it's a lot."

Armstrong won the Tour de France a record seven times but was stripped of his titles and banned for life in 2012 by the U.S. Anti-Doping Agency after it accused him of engineering one of the most sophisticated doping schemes in sports.

The American later admitted to the cheating in a January 2013 televised interview with Oprah Winfrey.

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