Former Uber CEO Travis Kalanick Just Paid $43 Million For This Bel-Air Estate (It Had Been Seeking $75 Million)
The Wall Street Journal has revealed the true identity of an LLC that just paid $ 43 million for a house in Bel-Air. As you may have deduced from the title of this article, the billionaire co-founder of Uber Travis Kalanick is the all new Fresh Prince of Los Angeles.
Known as “Bellagio” because it is on Bellagio Road, the 2 acre property has a main house of 20,000 square feet. The house has seven bedrooms, a huge wine cellar, two swimming pools and a tennis court.
The seller was a real estate investor named Christopher Cole who bought the house in 2015 for $ 38 million. Cole listed the house for sale in October 2019 for an enticing amount of $ 75 million.
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Travis also owns a 7,000 square foot penthouse apartment in New York that he picked up in 2018 for $ 36.5 million. The apartment was still under construction at the time of purchase and will eventually include a private rooftop pool.
Travis sits on net cash (as opposed to paper stocks) of $ 4 billion. While running Uber, he sold pieces of stock during various rounds of financing for billions of dollars. He was ousted as CEO in June 2017 in an outbreak of controversy.
Uber went public in May 2019, when Travis was still the company’s largest private investor.
In December 2019, almost exactly six months after the IPO when his lock-up prevented him from selling, Travis announced that he was leaving Uber completely and had sold 90% of his shares. It was good timing. In April of the following year, with the booming Corona crisis, these Uber shares lost 50% of their value.