3. Travis Kalanick

3. Travis Kalanick

Net Worth: $10.1 B

AGE: 46
RESIDENCE: Hermosa Beach
SOURCE OF WEALTH: Ridesharing, technology, ghost kitchens

THE MONEY: Kalanick co-founded ride-hailing company Uber Technologies Inc. in 2009 and served as the company’s chief executive from 2010 until 2017, when he stepped down amid reports of hostile working conditions and sexual harassment within the company. Shortly after Uber held its initial public offering, in 2019, Kalanick began to liquidate his shares in the company and resigned from Uber’s board. He netted just over $2.5 billion through sales of Uber stock. In 2018, Kalanick established a venture capital firm called the 10100 Fund, which focuses on real estate and e-commerce startups. The same year, he spent $150 million to purchase a controlling stake in City Storage Systems, where he is now chief executive. The company owns ghost kitchen startup CloudKitchens, which earlier this year was reportedly valued at $15 billion.

THE BUZZ: As with Uber, Kalanick’s current startup has been at the center of allegations of deceptive business practices and toxic workplace culture. The company faces multiple lawsuits from former employees and customers. At the same time, it hasn’t had trouble attracting investors. CloudKitchens, which rents space to delivery-only restaurant brands, raised $850 million in its latest funding round – which follows a separate $700 million round completed shortly after Kalanick took over the company. Kalanick has retreated from the public eye after departing from Uber, though he has drawn some attention to himself with a few splashy home purchases. His property holdings include a $36.4 million penthouse in Manhattan’s Soho neighborhood and a Bel Air mansion he bought for more than $43 million in 2020.

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