8. Travis Kalanick

8. Travis Kalanick

Net Worth: $8.4 B


CHANGE: 4.1%

AGE: 47

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 eventually netted $2.5 billion before taxes 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 reported a valuation of $15 billion in January of last year.

THE BUZZ: Like 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. 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’s net worth for 2022 has been recalculated.

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