Lance Armstrong Net Worth

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Lance Armstrong, who was into professional cycling sport, is now a public speaker, podcaster, and cancer survivor. His career was cut short due to testicular cancer, but amazingly Armstrong again won seven record races in a row in the Tour de France from 1999. Sadly, these titles happened to be taken away from him after finding evidence of him taking performance-enhancing steroids.

While Lance Armstrong is no longer involved in cycling, he is still heavily involved in the sports with his business, which is Mellow Johnny’s Bike Shop in Austin. It opened in 2008, now serves similar to a destination for cyclists by acting as a meeting point for cyclist re-union. Other than that, it sells bikes. Let’s know more about Lance Armstrong!

Early Life

Lance, born in Plano, Texas, on September 18, 1971, liked sports since he was a child. Initially, at the age of 10, he used to be athletic and spent his time running and swimming. After that, he started participating in competitions based on cycling and triathlon at the age of 13. But then he made a firm decision and started riding a bicycle alone.

In 1987, researchers measured the oxygen consumption of his lungs during exercise. And found that Armstrong has the highest oxygen consumption ability. It means that his lungs are very important for endurance. This makes him a man born to be an athlete.

Personal Life

Armstrong’s parents divorced when he was too young. Then, his mother, Linda, who was only seventeen during that time, remained in charge of Lance. When he was three years old, Linda married Terry Armstrong, who officially adopted him. His biological father was Eddie Gunderson, who died in 2012. Lance got his last name from stepfather Terry Armstrong.

Later, he met Kristin Richard in 1997, and both married less than a year later. Lance and Kristin had three children together before their divorce in 2003. After a long time, he seems to be committed to his girlfriend, Anna Hansen. Lance and Anna are no longer married but engaged in their relationship.

Career

Lance Armstrong, a sports icon well-known for his grant success as a professional cyclist. He won seven consecutive Tour de France championships between 1999 and 2005. Before that, in 1996, he was diagnosed with Testicular cancer. He overcame it and shinned in his cycling career. Despite his success and fame, his career is not without controversy.

In the process of ruling the cycling sport, he has been accused of using drugs to improve athletic performance. However, he firmly denies this accusation. In 2010, Armstrong completed a mediocre 23 in the Tour de France tournament.

At that tournament, he said it would be his last game. Lance Armstrong admitted to using performance-enhancing drugs in an interview with Oprah Winfrey. Once confirmed, all his titles were taken away.

Lance Armstrong Net Worth

Armstrong’s worth was approximately 125 million US dollars when he was at the peak of his career. But, the current estimated net asset value of the former professional cyclist is approximately 50 million US dollars. While he was a cyclist, he was one of the highest-paid athletes in the world. Being a sporting icon of the decade, he had an annual income of more than 20 million US dollars.

Admitting his mistake of taking steroids at Oprah Winfrey’s popular TV show was a turning point in his life. Suddenly, he lost all his regular annual payments and sponsorships. This means he lost all his major sponsors, including top brands like Nike, Trek Oakley, and all others.

Also, Armstrong is estimated to lose approximately 75 million US dollars for all legal implications and settlements, at that time. Now, being a public speaker and podcaster, he is making money from that.

Uber Investment

Not surprisingly, the dramatic fall of Lance Armstrong took a toll on his financial situation. In the fall of 2012, all of a sudden, he lost eight sponsors in one day. Most of the economic analysts estimated that he will lose more than 150 million US dollars in his near future. But, his investment in the past saved Lance and his whole family.

In 2009, the former professional cyclist did invest 100,000 US dollars. Most of the money of his investment went to a new company (popular now) called Uber. Though he didn’t even know what he was buying, it was worth the effort. It shows that past valuable investment in an emerging sector can protect one’s life.

Conclusion

According to Bloomberg’s research, Lance Armstrong’s investment in Uber is up to 30 million US dollars. After paying the fees, this investment may be close to 20 million US dollars. To make you understand in a simplified way, this is truly a mesmerizing return on his investment of $100,000.

The life of Lance Armstrong taught us the importance of reaching success on the right path. In addition, it emphasizes the importance of investing in the real sector. Hope this article is informative and served its purpose. Happy reading!

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