Ex-Uber CEO nets $1.4B as company closes Softbank deal

Getty Images

Travis Kalanick, the former Uber CEO who resigned last year, is walking away with $1.4 billion after the company finalized a new deal, CNBC reported Thursday.

Japanese company SoftBank reached an arrangement with Uber, according to the report, making them Uber’s largest investor and valuing the ride hailing company at $48 billion.

{mosads}

“We’re proud to have SoftBank, Dragoneer and the entire consortium in the Uber family. This is a great outcome for our shareholders, employees and customers,” a spokesperson for Uber said in a statement reported by CNBC.

Bloomberg estimates that Kalanick, a co-founder of the transportation company, is worth $4.74 billion. 

The agreement comes after a rocky 2017 for Uber. Kalanick was forced out of the company last year amid accusations of a culture rife with sexual harassment. The company was also the target of a massive data breach late last year.

SoftBank reached the multibillion-dollar deal with Uber at the end of 2017.

Tags softbank Travis Kalanick Uber Uber

Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.