Lance Armstrong Net Worth - Pulptastic

Lance Armstrong, a professional cyclist, author, and public speaker, has a net worth of $50 million, down from his peak of $125 million. He was once among the highest-earning athletes in the world, earning up to $20 million per year from endorsements and prize money. Even in retirement, he earned about $15 million per year

What is Lance Armstrong’s net worth?

Lance Armstrong, a professional cyclist, author, and public speaker, has a net worth of $50 million, down from his peak of $125 million. He was once among the highest-earning athletes in the world, earning up to $20 million per year from endorsements and prize money. Even in retirement, he earned about $15 million per year from speaking engagements, public appearance fees, and sponsorships.

For nearly a decade, Armstrong was known for his athletic prowess and was a symbol of what one could achieve in the world of sports. He won the National Sprint-Course Triathlon twice while in high school and became the first American to win several races in the early 90s. He was diagnosed with testicular cancer in 1996 but returned to cycling after treatment and won the Tour de France seven times between 1999 and 2005.

In 2012, Armstrong was banned from professional racing due to allegations of steroid use. He lost his seven Tour de France medals and major sponsors, including Nike, Oakley, Trek, and Anheuser Busch. Despite this, Armstrong’s cancer foundation, which he is no longer associated with, has raised almost $500 million for research and has inspired millions of cancer patients worldwide.

Lance Armstrong’s Estimated Losses from Doping Scandal

Lance Armstrong’s admission to doping during an interview with Oprah Winfrey in January 2013 was estimated to cost him $75 million in lost endorsements, legal settlements, and lawyer fees. The U.S. Federal government could have sued Armstrong for $100 million, but he ultimately settled for $5 million.

Lance Armstrong’s Early Investment in Uber Saves Family Financially

Lance Armstrong revealed that his early investment in Uber “saved” his family financially over the past five years. He invested $100,000 in Uber when the company was valued at $3.7 million, thinking he was buying shares of Twitter through Chris Sacca’s venture capital firm. Today, Uber has a private valuation of $120 billion, making Lance’s investment worth about $20 million after fees. While some news outlets reported that Lance is close to becoming a billionaire, this is not true. Nonetheless, his return on investment is impressive.

Lance Armstrong’s Early Life

Lance Armstrong was born on September 18, 1971 in Richardson, Texas to Linda and Eddie. His parents divorced when he was two, and his mother remarried to Terry Armstrong the following year. Lance was then adopted by his stepfather and took on his surname.

Armstrong is of Dutch, Norwegian, and Canadian descent.

Lance Armstrong’s Early Sports Career

Lance Armstrong started as a swimmer in the City of Plano Swim Club but switched to racing on land. At 13, he won the Iron Kids Triathlon and became a professional triathlete a few years later. Armstrong won the national sprint-course triathlon championship in 1989 and 1990.

Lance Armstrong’s Cycling Victories

In 1992, Lance Armstrong joined the Motorola Cycling Team. The following year, he won the World Road Race Championship in Norway. He continued to dominate in 1994, winning his second Thrift Drug Classic. In 1995, Armstrong won the Clásica de San Sebastián and the Tour DuPont. He repeated his Tour DuPont victory in 1996, and also became the first American to win the La Flèche Wallonne.

Lance Armstrong’s Battle with Cancer

In 1996, at the age of 25, Lance Armstrong was diagnosed with advanced testicular cancer. Despite undergoing an orchiectomy to remove the diseased testicle, he was given a slim chance of survival. However, he received various treatments at the Indiana University medical center, which effectively saved his life. In 1997, he appeared at the first training camp of the Cofidis team, and was declared cancer-free shortly after.

Lance Armstrong’s Return to Road Racing and Tour de France Victories

After beating cancer, Armstrong returned to road racing and trained in seclusion with former rider Bob Roll and cyclist Chris Carmichael in the Appalachians. He won the Tour of Luxembourg and finished in the top five of the Vuelta a España. In 1999, he won his first Tour de France, which was followed by six consecutive victories through 2005. However, his success was overshadowed by allegations of doping. Armstrong subsequently announced his retirement.

Armstrong’s Return to Tour de France and Retirement

In 2009, Armstrong came out of retirement to compete in the Tour de France as part of the Astana team, finishing in third place. He returned again in 2010 with Team RadioShack, finishing in 23rd place due to crashes. However, he helped Team RadioShack win the team competition against Caisse d’Epargne. In 2011, Armstrong announced his retirement from competitive cycling amid ongoing federal investigations into doping allegations against him.

Lance Armstrong’s Doping Scandal

Lance Armstrong persistently denied doping allegations throughout his professional career, but in 2010 cyclist Floyd Landis admitted to doping and accused Armstrong of doing the same. The US Justice Department launched an investigation, but it was dropped in 2012 with no charges. Later that year, the United States Anti-Doping Agency accused Armstrong of doping and he was stripped of all his wins dating back to 1998 and banned from sports obeying the World Anti-Doping Code. In 2013, he finally admitted to doping.

Lance Armstrong’s Personal Life and Charitable Endeavors

Lance Armstrong has been married twice and has five children. He first married Kristin Richard in 1998, with whom he had three children before their divorce in 2003. Armstrong then dated singer-songwriter Sheryl Crow and got engaged in 2005, but they split in 2006. He then started a relationship with Anna Hansen, with whom he has two children and married in 2022. Armstrong owns homes in Texas and Colorado and owns a coffee shop and bike shop in Austin.

Armstrong is known for his charitable work, including the Lance Armstrong Foundation, which he founded in 1997 to support people impacted by cancer. The Foundation has raised over $500 million from the sale of its Livestrong bracelets. He also helped establish Athletes for Hope and funded Wonders & Worries, which supports children with a seriously ill parent.

Lance Armstrong’s Real Estate Holdings

Lance Armstrong, at the height of his career, owned $30 million worth of real estate around the globe. His properties included mansions in the Bahamas, the South of France, Spain, and his home state of Texas.

In 2013, Lance paid $4.34 million for a 3.6-acre property on Lake Austin. Less than two months later, he sold the home for $5.35 million. In 2018, he sold a Tuscan-style mansion in Austin for $6.88 million.

One of Lance’s most valuable properties is a mansion in Aspen, Colorado, which he purchased in 2008 for $9.175 million. Today, his primary mansion is a 1.7-acre property with a large Mediterranean-style mansion that’s estimated to be worth around $8 million.

You May Also Like

ncG1vNJzZmiopaG9ta3SraCcZpOkunC4wKeanmWRp7q0wNGopaBlnprBbsPOq6uhZw%3D%3D

 Share!