Former CEO of Uber Technologies Inc., Travis Kalanick, takes his first opportunity to make money from the company he co-founded since his IPO, Kalanick, which has been filed with the Securities and Exchange Commission , sold about $ 547 million in Uber shares last week and $ 164 million in shares this week, representing a total sale of approximately $ 711 million.
6 marked the end of the 180-day lock-up period for Uber's early investors after the hailer's IPO in May. Uber-share
fell immediately to record lows and has fallen nearly 40% since the IPO.
Kalanick was ousted as CEO in 201
But despite the fierce sale, he is not even close to paying off in full. By Wednesday, Kalanick still has more than 71 million Uber shares worth $ 1.8 billion.
At a current stock price of $ 26.05 per share, Uber's market capitalization is approximately $ 45.6 billion.
Kalanick sold nearly a third of its shares Uber was involved in the SoftBank Group in January 2018 for approximately $ 1.4 billion.
Since Kalanick left Uber's top spot, he has set up a mutual fund focusing on a startup called CloudKitchens for food delivery.