What is Lance Armstrong's Net Worth?
Lance Armstrong is an American professional cyclist, author, and public speaker with a net worth of $50 million. At the peak of his career, his net worth was $125 million, with annual earnings exceeding $20 million from endorsements and prize money. Even after retiring, Armstrong continued earning roughly $15 million per year from speaking engagements and sponsorships.
During his prime, Armstrong was an icon of athletic perfection. A cancer survivor, he won the National Sprint-Course Triathlon in 1989 and 1990 at the young age of 16. His career skyrocketed through the early 90s, becoming the first American to win numerous races. However, in 1996, he was diagnosed with testicular cancer that had spread to his lungs and brain. After intense treatment, Armstrong made a stunning comeback in 1998, winning the Tour de France seven consecutive times from 1999 to 2005 before retiring initially in 2005.
Armstrong's career took a dramatic turn in October 2012 when he was banned from professional racing for using performance-enhancing drugs. He was stripped of his Tour de France titles and lost major sponsors, including Nike and Oakley. Despite the scandal, Armstrong's cancer foundation has raised nearly $500 million for research, inspiring millions of cancer patients globally.
Lost Fortune
In a January 2013 interview with Oprah Winfrey, Armstrong revealed that his endorsement deals loss could amount to $75 million due to his doping scandals. He faced a potential $100 million lawsuit from the U.S. Federal government, but he ultimately settled for $5 million.
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Uber Investment
In December 2018, Armstrong disclosed that his early investment in Uber financially saved his family. He invested $100,000 in Uber when it was valued at $3.7 million, initially believing he was buying shares of Twitter. As of December 2018, Uber's private valuation was $120 billion, making Armstrong's investment worth between $20 million to $30 million before fees—an impressive return on his original investment.
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Early Life
Lance Armstrong, born Lance Gunderson on September 18, 1971, in Richardson, Texas, is of Dutch, Norwegian, and Canadian descent. His parents divorced when he was two, and his mother remarried the following year, leading Armstrong to adopt his stepfather's surname.
Career Beginnings
Armstrong started his sports career as a swimmer but soon transitioned to racing. At 13, he won the Iron Kids Triathlon and became a professional triathlete, winning the national sprint-course triathlon championship in 1989 and 1990.
Motorola Cycling Team
Joining the Motorola Cycling Team in 1992, Armstrong achieved notable victories early in his career, including the World Road Race Championship in 1993 and multiple Tour DuPont wins.
Cancer Battle
In 1996, at age 25, Armstrong was diagnosed with advanced testicular cancer. Intensive treatments at the Indiana University medical center saved his life, and he was declared cancer-free in early 1997.
Return to Cycling and Tour de France Titles
Post-cancer, Armstrong secluded himself in North Carolina for intensive training. He returned to win the Tour of Luxembourg and placed in the Vuelta a España. His first Tour de France win came in 1999, followed by six consecutive victories until 2005.
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Final Cycling Years
Armstrong came out of retirement in 2009, finishing third in the Tour de France with the Astana team. His final Tour de France in 2010, with Team RadioShack, saw him finish 23rd but helped his team win the overall competition. He announced his second retirement in early 2011 amid a federal doping investigation.
Doping Scandal
Persistent doping allegations culminated in a scandal in 2010 when cyclist Floyd Landis accused Armstrong of doping. Federal prosecutors dropped their investigation in early 2012, but the US Anti-Doping Agency later charged Armstrong with running a doping ring, leading to his lifetime ban from sports and the stripping of his titles. He admitted to doping in early 2013.
Personal Life and Charity
Armstrong married Kristin Richard in 1998, with whom he had three children before their 2003 divorce. He was engaged to singer-songwriter Sheryl Crow but split in 2006. Armstrong later married Anna Hansen, with whom he has two children. They married in 2022.
He owns properties in Austin, Texas, and Aspen, Colorado. In Austin, he operates Juan Pelota Cafe and Mellow Johnny's bike shop. His charitable efforts include founding the Lance Armstrong Foundation in 1997, which raised over $500 million through the sale of Livestrong bracelets, and helping establish Athletes for Hope and fund Wonders & Worries.
Real Estate
At the peak of his career, Armstrong owned $30 million worth of real estate, including properties in the Bahamas, the South of France, Spain, and Texas. He sold a Lake Austin property in 2013 for a significant profit and a Tuscan-style mansion in Austin in 2018 for $6.88 million. In 2008, he purchased a mansion in Aspen for $9.175 million, and his primary residence is a Mediterranean-style mansion on a 1.7-acre property, valued at around $8 million.
