- Travis Kalanick’s total haul from the sell-off is now nearing $1 billion.
- Current Uber CEO joins board chair on the buy-side.
- Uber co-founder Garett Camp now owns more shares than Kalanick.
As the co-founder and former CEO of Uber Technologies (NYSE: UBER) Travis Kalanick cuts his stake in the ride-hailing firm, the current CEO Dara Khosrowshahi is increasing his shareholding in the company.
An SEC filing posted on November 20th shows that Khosrowshahi acquired 250,000 shares of Uber on Monday, November 18th. This brings his total stake, including stock awards, to 1,530,939 shares.
Uber CEO writes a $7 million check
On Monday shares of the ride-hailing firm ranged between $26.30 and $27. Assuming he acquired the stake at the day’s high of $26.30, Khosrowshahi spent at least $6,575,000 to purchase the batch. As of Wednesday’s close (November 20th), Uber’s stock had appreciated by nearly 7% from Monday’s low.
But as Khosrowshahi was increasing his stake, Kalanick was continuing his selling spree that started right after the expiry of the lockup period earlier this month. On November 18th, Kalanick sold 2,121,290 Uber shares. This brings the total number he has disposed of so far to more than ten million.
As of November 13th, Kalanick had sold a stake worth about $664 million. The new SEC filing also shows that besides the Monday transaction, Kalanick sold another 4,308,839 shares towards the end of last week. This is a stake worth roughly over $110 million. The total value of the stake that he has so far sold is worth more than $829 million.