Lance Armstrong Net Worth (Money & Salary)

What is Lance Armstrong’s net worth?

An American professional cyclist, author, and public speaker, Lance Armstrong holds a net worth of $50 million. For a decade, the name Lance Armstrong epitomized athletic excellence. This cyclist, also a cancer survivor, became a symbol of the extremes one could achieve in sports. His rise as a notable athlete began in high school, where he clinched the National Sprint-Course Triathlon titles in 1989 and 1990 at the young age of 16. Throughout the early 90s, he ascended in the racing world, becoming the first American to triumph in several races. However, in 1996, he faced a diagnosis of testicular cancer, which had spread to his lungs and brain. This led him to retire from cycling to follow a rigorous treatment plan. After returning to the sport in 1998, he appeared to be in peak form. From 1999 to 2005, he achieved victory in the Tour de France seven times. Following his second retirement in 2005, he made a comeback in 2009, participating sporadically until 2011. But then, a scandal erupted—his impressive performance from 1998 to 2005 was revealed to be less than genuine.

As nearly everyone knows by now, Lance Armstrong was banned from professional racing in October 2012 due to allegations of steroid use. Consequently, he lost all seven of his Tour de France medals and his major endorsements from companies like Nike, Oakley, Trek, and Anheuser Busch.

Conversely, throughout his career, he became a beacon of hope for millions battling cancer. Although he is no longer involved, his cancer foundation has raised nearly $500 million for research since it began.

At the height of his career, Lance Armstrong’s net worth soared to $125 million and continued to rise. He was akin to the Michael Jordan of professional cycling. Similar to Jordan, at one point, he ranked among the highest-paid athletes globally, often earning over $20 million annually from endorsements and prize money. Even during his retirement years, prior to the full emergence of his scandals, he consistently earned around $15 million each year through public engagements, speaking fees, and sponsorships.

Lost Fortune

In an interview with Oprah Winfrey in January 2013, where he confessed to doping, Lance speculated that the fallout from his endorsements could ultimately lead to a loss of approximately $75 million due to contract cancellations, legal fees, and settlements. Had the lawsuit proceeded to trial, the U.S. Federal government could have pursued damages amounting to $100 million from Lance. Ultimately, he settled for $5 million.

Uber Investment

Lance shared with CNBC in December 2018 that his initial investment in Uber had “saved” his family financially over the preceding five years. He had invested $100,000 in Uber when its valuation stood at $3.7 million. At the investment’s inception, he was unaware of what Uber truly was and mistakenly believed he was purchasing shares of Twitter.

through the venture capital firm of Chris Sacca.

By December 2018, the company had reached a private valuation of $120 billion. Although Lance chose not to reveal the precise amount of his investment in Uber, his early involvement suggests that it is likely very valuable today.

Upon hearing this news, many less-reputable news sources hastily claimed that Lance is almost definitely a billionaire due to his Uber investment. While that notion is certainly appealing, it is not accurate. At its peak, Lance’s Uber investment was valued at $30 million, though it’s probably around $20 million after fees. Nonetheless, this still represents an incredible return on a $100,000 investment.

Early Life

Lance Armstrong, originally named Lance Gunderson, was born on September 18, 1971, in Richardson, Texas, to parents Linda and Eddie. He has Dutch, Norwegian, and Canadian ancestry. At the age of two, his parents divorced, and his mother remarried Terry Armstrong the following year, adopting her new husband’s surname.

Career Beginnings

His journey in sports initiated with swimming at the City of Plano Swim Club. However, he quickly transitioned to land racing and, at 13, claimed victory in the Iron Kids Triathlon. A few years later, Armstrong established himself as a professional triathlete, becoming the national sprint-course triathlon champion in both 1989 and 1990.

Motorola Cycling Team

Armstrong joined the Motorola Cycling Team in 1992. He achieved significant success in the following year, notably winning the World Road Race Championship in Norway. In 1994, he secured his second Thrift Drug Classic win, and in 1995 triumphed in the Clásica de San Sebastián and the Tour DuPont. He repeated his Tour DuPont victory in 1996 and became the first American to win the La Flèche Wallonne.

Cancer Battle

Diagnosed with advanced testicular cancer at 25 in 1996, Armstrong underwent an orchiectomy to excise the affected testicle, but was informed that his chances of survival were slim. Despite this, he received successful treatments at the Indiana University medical center that ultimately saved his life. By early 1997, he was present at the first training camp of the Cofidis team and was soon declared cancer-free.

Return to Cycling and Tour de France Titles

After successfully overcoming cancer, Armstrong made his comeback to road racing. He retreated to North Carolina to train with former rider Bob Roll and cyclist Chris Carmichael in the Appalachian region. Armstrong then entered and won the Tour of Luxembourg and later placed in the top five at the Vuelta a España. In 1999, he clinched his inaugural Tour de France title, although his triumph was overshadowed by doping allegations. He went on to secure victories in the next six consecutive Tour de Frances, concluding in 2005, after which he announced his retirement.

Final Cycling Years

In 2009, Armstrong returned from retirement with the goal of competing in the Tour de France. Ultimately finishing in third place with the Astana team, he participated again in the 2010 Tour de France, this time with Team RadioShack; this would mark his final tour. After facing difficulties due to crashes early on, he ended up in 23rd place. Nonetheless, he found greater success in the team competition, aiding Team RadioShack to victory over Caisse d’Epargne. In early 2011, he made the announcement of his official retirement from competitive cycling amidst an ongoing federal investigation concerning doping allegations.

Doping Scandal

Throughout much of his professional career, Armstrong faced doping accusations, which he consistently denied. The controversy escalated in 2010 when cyclist Floyd Landis confessed to using performance-enhancing drugs and accused Armstrong, among others, of similar actions. As a result, federal prosecutors from the US Justice Department initiated an investigation into Armstrong and his cycling team. The investigation was ultimately closed in early 2012 without any charges. Later that year, the United States Anti-Doping Agency accused Armstrong of doping, supported by blood samples and witness testimonies; he was subsequently formally charged with operating a doping ring. Consequently, Armstrong had all victories stripped beginning from August 1998 and received a ban from all sports in accordance with the World Anti-Doping Code. Finally, in early 2013, he confessed to doping.

Personal Life and Charity

In 1998, Armstrong married Kristin Richard, and together they welcomed a son and twin daughters before their divorce in 2003. Later that year, he began a relationship with singer-songwriter Sheryl Crow, getting engaged in 2005; however, the couple separated in early 2006. In 2008, Armstrong started a relationship with Anna Hansen, and they soon had a son and daughter together. The couple tied the knot in the summer of 2022. Armstrong possesses homes in Austin, Texas, and Aspen, Colorado. In Austin, he operates a coffee shop named Juan Pelota Cafe and a bike shop known as Mellow Johnny’s.

One of the most noteworthy initiatives of Armstrong’s is the Lance Armstrong Foundation, which he established in 1997 to assist individuals affected by cancer. The Foundation has generated over $500 million from the sale of its iconic Livestrong bracelets. Additionally, Armstrong was instrumental in founding Athletes for Hope, an organization aimed at engaging professional athletes in charitable causes, and he provided support for Wonders & Worries, which aids children whose parents are dealing with serious illnesses.

Real Estate

At the peak of his career, Lance accumulated approximately $30 million worth of real estate across the globe, which includes luxurious properties in the Bahamas, the South of France, Spain, and his home state of Texas.

In 2013, Lance acquired a 3.6-acre property on Lake Austin for $4.34 million. Less than sixty days later, he sold the property for $5.35 million. In 2018, he sold a Tuscan-style mansion in Austin for $6.88 million. Additionally, in 2008, Lance bought a mansion in Aspen, Colorado, for $9.175 million. Currently, his primary residence is a Mediterranean-style mansion located on a 1.7-acre property, estimated to be worth around $8 million.