He was a multi-time champion and squandered everything he achieved out of ambition. But he was able to recover surprisingly.
Winner of the Tour de France 7 consecutive times.
He former cyclist Lance Armstrong He reached the peak of sporting success towards the end of the 90s. At that time he dominated the world of bicycle racing. He won the Tour de France 7 consecutive times, a feat that made him world famous.
His prestige, his personal reputation and, above all, his fortune also grew. Furthermore, his story inspired millions because he had defeated cancer before achieving sporting success. So, created a foundation called Livestrong that raised millions of dollars to invest in the fight against the lethal disease.
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Lance Armstrong, the multi-champion who lost everything
In any case, in his circle, rumors began to spread that the cyclist used illegal drugs to improve his performance on the bicycle. Finally, in 2012, The United States Anti-Doping Agency (USADA) accused him of leading “the most sophisticated doping program that sport has ever seen.”. Thus they stripped him of all his titles from 1998 onwards, and the international cycling union expelled him for life.
From then on everything collapsed. He lost important sponsorship contracts with Nike, which had accompanied him for 16 years, and other sponsoring companies also let go of his hand. Among them Trek, a bicycle manufacturer, Anheuser-Busch, a beer producer, and Honey Stinger, an organic nutrition company.
How Lance Armstrong recovered his fortune
While he was on the descent towards ruin. Not so much financially, but rather personally and professionally, he received an unexpected call that would completely change his reality. Chris Sacca, a renowned investor from the United States, proposed to invest in shares of a rising company..
He thought it was Google, Apple or some established giant, but it was nothing more and nothing less than Uber. At that time (2009) it was just a start-up worth $3.7 million. And Lance invested US$100,000.
In 2024 it will be worth 70 billion dollars. Although he never revealed the amount of money he earned with that investment, he acknowledged that it gave such good results that he saved his entire family.
Source: Ambito
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