The Wall Street Journal has revealed the true identity behind an LLC that just paid $43 million for a home in Bel-Air. As you may have inferred from the title of this article, billionaire Uber co-founder Travis Kalanick is LA's newest Fresh Prince.
Known as "Bellagio," because it is on Bellagio Rd, the 2-acre property has a 20,000 square-foot main house. The house has seven bedrooms, a massive wine cellar, two swimming pools and a tennis court.
The seller was a real estate investor named Christopher Cole who bought the home in 2015 for $38 million. Cole listed the home for sale in October 2019 for a mouth-watering $75 million.
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Travis also owns a 7,000-square-foot penthouse apartment in New York City which he scooped up in 2018 for $36.5 million. The apartment was still under construction at the time of purchase and will ultimately feature a private roof deck pool.
Travis is sitting on a cash (as opposed to paper stock-based) net worth of $4 billion. While he was running Uber, he sold of chunks of shares over various funding rounds for billions in proceeds. He was ousted as CEO in June 2017 in a blaze of controversy.
Uber went public in May 2019, at which point Travis was still the company's largest private investor.
In December 2019, almost exactly six months after the IPO when his lock-up forbid him to sell, Travis announced he was moving on completely from Uber and had sold off 90% of his shares. It was good timing. By April of the next year, with the Corona crisis in full-swing, those Uber shares lost 50% of their value.
