Travis Kalanick Net Worth, Early Life, Career

0
335
Travis Kalanick Net Worth

According to the Celebrity Net Worth, Travis Kalanick has an estimated net worth of around $4 billion as of 2024

Travis Kalanick is an American entrepreneur best known as the co-founder and former CEO of ridesharing company Uber.

He amassed his vast fortune by building Uber into one of the world’s most valuable startups. However, his tenure at Uber was also marred by controversies.

Travis Kalanick Net Worth

As of 2024, Travis Kalanick has a net worth of $4 billion. Most of his net worth comes from his shares in Uber and the $1.4 billion he made from selling Red Swoosh to Akamai Technologies.

At its peak in 2016, Uber was valued at $68 billion, making Kalanick’s stake worth over $5 billion. Despite Uber’s valuation dropping significantly since then, Kalanick still owns around 7% of the company’s shares, equating to billions in wealth.

Even after resigning from Uber in 2017, Kalanick has retained his board seat and remains one of the largest shareholders. While Uber went through executive shakeups and suffered reputational damage in the last few years, it remains a ridesharing giant handling billions in annual rides.

Kalanick also has earned hundreds of millions from his investments through his venture fund 10100. However, 10100 held shares in e-commerce startup Shopify worth over $100 million when Shopify went public in 2015.

Early Life and Education

Travis Cordell Kalanick was born on August 6, 1976, in Los Angeles, California. His father, Donald Kalanick, was a civil engineer, and his mother, Bonnie Kalanick, was an advertising executive. From an early age, Kalanick demonstrated an entrepreneurial spirit, selling knives door-to-door as a teenager.

Travis Kalanick Net Worth

Kalanick attended Granada Hills High School before enrolling at the University of California, Los Angeles (UCLA) in 1994. At UCLA, he studied computer engineering and joined a program for student entrepreneurs. In 1998, he dropped out of UCLA to work full-time on a startup called Scour, a peer-to-peer file-sharing service.

Career Beginnings

After Scour went bankrupt in 2000, Kalanick started working as a software engineer at Akamai Technologies. In 2001, he co-founded a peer-to-peer content delivery company called Red Swoosh with fellow UCLA student Michael Todd. Kalanick served as CEO of Red Swoosh and helped the company survive the dot-com bust.

In 2007, he sold Red Swoosh to Akamai for $19 million. This exit made Kalanick a millionaire. With newfound wealth and experience under his belt, Kalanick was now ready to launch more significant ventures.

Sources of Income

Travis Kalanick’s net worth stems from his Uber shares. Though no longer its CEO, he still owns around 7% of the ridesharing company’s stock.

Kalanick also continues to earn money from Uber as a member of its board of directors. In 2020, he made over $179 million from selling some of his Uber shares.

Another significant source is Kalanick’s venture capital firm 10100. He earns sizable returns from the successful startups and companies that 10100 has invested in over the years. For instance, 10100 owned shares in delivery company DoorDash worth around $400 million when DoorDash went public in 2020.

Past business sales have also contributed to Kalanick’s wealth. In 2007, he made $19 million selling his file-sharing startup Red Swoosh to Akamai Technologies. Earlier in his career, he earned millions from Scour, a peer-to-peer search engine he co-founded before it went bankrupt.

Uber and Business Ventures

Travis Kalanick joined forces with Garrett Camp to create Uber, a ride-hailing app allowing people to book rides from their smartphones. UberCab launched in San Francisco in 2010 and soon expanded to other cities under the name Uber.

As CEO, Kalanick aggressively grew Uber into a global transport behemoth despite facing legal hurdles and protests in some cities. At its peak under Kalanick, Uber was operating in more than 70 countries and had a nearly $70 billion valuation. However, the company was losing billions of dollars a year.

Kalanick was forced to resign as Uber CEO in 2017 amid several scandals about the company’s toxic work culture and controversial business practices. Though no longer involved in Uber’s operations, Kalanick still owns around 7% of the company’s shares.

Besides Uber, Kalanick co-founded an investment fund called 10100 with entrepreneur Scott Banister. The fund has invested in startups like e-commerce firm Tradesy and real estate company City Storage Systems.

Salary and Earnings

Travis Kalanick did not take a typical salary. However, he earned massive payouts yearly due to his ownership stake in the company.

In 2015, Kalanick’s total compensation from Uber was reported to be $110 million, according to company filings. That included a $1 million salary, bonuses, and stock awards as Uber’s CEO.

Kalanick reportedly earned about $45 million annually at his peak as Uber CEO between 2013 and 2017. His earnings mainly consisted of stock payouts as Uber’s valuation skyrocketed during that period.

After resigning as CEO in 2017, Kalanick’s direct earnings from Uber decreased significantly. But he still made tens of millions some years from bonuses and stock sales related to his board position.

However, Kalanick earned $179 million 2020 from selling some of his Uber shares. Despite not leading the company anymore, his significant equity stake ensures he continues reaping financial rewards.

Personal Life

Kalanick was in a long-term relationship with violinist Gabi Holzwarth from about 2014 to 2016. Holzwarth toured with Kalanick worldwide when he was Uber CEO, but they eventually broke up.

In 2017, Kalanick’s father, Donald, and mother, Bonnie, were involved in a tragic boating accident near Fresno, California, which killed his mother and left his father seriously injured. Kalanick was very close to his parents, and their family owned a chain of restaurants together. This devastating incident occurred while Kalanick was dealing with crises at Uber.

Travis Kalanick Net Worth

Kalanick has two half-sisters – Angela and Tiffany. After resigning from Uber, he spent more time with his family in Los Angeles, away from Silicon Valley.

Romantic partners from before and after his relationship with Holzwarth have managed to stay out of the spotlight. Kalanick himself rarely discusses his dating life or relationships in interviews.

Philanthropy

Travis Kalanick has been relatively quiet on large-scale philanthropic endeavors. However, he has made some charitable contributions over the years.

In 2015, Kalanick signed the Giving Pledge, a commitment by the world’s wealthiest people to dedicate most of their wealth to philanthropy. While Kalanick has not reached that level of giving, he has donated shares of Uber stock worth tens of millions to charitable causes.

After stepping down from Uber, Kalanick launched a nonprofit called City Storage Systems in 2018, aimed at employing formerly incarcerated individuals. The organization provides job training and employment opportunities in the real estate/storage industry.

Kalanick has also supported the Future Fund initiative in Los Angeles, which provides scholarships and mentoring to students in low-income areas. He also donated $1 million through Uber to support civil rights organizations during the racial justice protests in 2020.

FAQs on Travis Kalanick Net Worth

How did Travis Kalanick get rich?

Kalanick accumulated his $4 billion net worth primarily through co-founding Uber and owning shares in the ridesharing company as it grew exponentially in valuation. He also earned millions from selling his previous startup, Red Swoosh.

Is Travis Kalanick still involved with Uber?

Kalanick still owns around 7% of Uber shares and has a seat on its board of directors, though he resigned as CEO in 2017. He continues to profit from Uber’s growth despite no longer having an executive role.

What businesses does Travis Kalanick invest in?

Through his venture capital firm 10100, Kalanick has invested in various startups like e-commerce company Tradesy, real estate firm City Storage Systems, and food delivery service CloudKitchens. He focuses on investing in disruptive companies.

Is Travis Kalanick married?

Kalanick dated violinist Gabi Holzwarth for several years but has kept his dating life private outside of that. However, he has never been married.

Bottom Line

Travis Kalanick’s story represents the tremendous opportunities and thorny challenges of being a disruptive entrepreneur. His ruthless business tactics helped Uber upend the taxi industry and become a ubiquitous global brand.

However, Kalanick’s impact on startups and tech cannot be denied. His estimated net worth of around $4 billion proves how handsomely risk-taking can pay off in the right circumstances.

LEAVE A REPLY

Please enter your comment!
Please enter your name here