Did Beyonce Really Earn $300 Million from a Private Concert With Uber?
On May 10, 2019, the multinational transportation network company Uber went public through its initial public offering resulting 11% lost in shares. But it’s not all bad news for everyone. There are rumors spreading that some investors gained big bucks out of Uber’s IPO.
One of Uber’s most controversial investors is the American singer-songwriter Beyonce. The R&B superstar did not officially confirm her investment with the ride-sharing company, but there were hearsays back in 2015 that she put up her dough in Uber.
A $6 Million Private Concert
Beyonce was first linked with Uber when she had an exclusive concert in a private party for Uber’s employees. Her husband Jay-Z is one of Uber’s early investors way back in 2011 when the company was just worth $60 million.
According to the reports, Beyonce and Uber’s former CEO Travis Kalanick agreed on a $6 million worth of restricted stock units payment for the pop star’s performance. It seems to be a smart move when Beyonce declined the $6 million cash commission because her $6 million worth of RSU grew bigger in time.
Who would have known that a secret gig for a tech party at Palms Casino Resort in Las Vegas would surprisingly increase for up to $300 million?
Uber is rapidly growing, especially this year. In fact, it already generated more than $536 million during the first quarter of 2019. It started adding more features such as Quiet Mode, Premium Support, new safety features, food delivery, and many more that app users just loved.
It May Not Be $300 Million
With Uber’s growth, investors like Beyonce can’t hide the smile on their faces. Although, there is some falsification that the declared figure is an exaggeration.
There are reports showing that Lance Armstrong’s investment from 2009 substantially grew at around 20-30 million as of today. Given this fact, it may be true that Beyonce collected a huge amount of money off Uber’s IPO, but not as much as $300 million.
Beyonce’s shares are allegedly worth around $9 million after the company’s IPO. That is if she kept her investment throughout these years. In addition to that, the estimated amount of $9 million doesn’t include taxes. More or less, it is still a win no matter how much the final figure is.
What’s Next for Beyonce?
Anyhow, Beyonce has a lot in her plate for this year. There are gossips that she will soon release a deluxe album consisting of her classic hits.
A Netflix documentary about the singer’s commemorated Coachella show in 2018 is also on its way. Lastly, The Lion King will be in cinemas on July 19 with Beyonce’s voice-over for Nala.
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