Uber Offered Since beginning her solo career at the beginning of the last decade, Beyoncé has become something more than a multinational artist with a millionaire audience. It has become an icon. The talent and worth of few public figures generate as much consensus as Beyoncé’s in the United States. She is admired for her artistic audacity (tangible, unlike that of other mainstream figures), and praised for her commercial expertise. The last example proves it.
Come, Bey. The story goes back to 2015, when Uber consecrated his reign on American urban mobility. The firm wanted to celebrate its stellar course through a private concert for all its employees. The chosen one, Beyoncé. The amount offered: $ 6 million, a figure of stratospheric proportions for any living human being whose name is not Beyoncé. Your reaction? Gently decry the proposal.
Counteroffer. Beyoncé would end up acting in the event, but she would do so by setting her own conditions. Instead of asking for monetary compensation of relative added value for her coffers (her fortune and that of her husband, Jay-Z, is estimated at over $ 1,200 million), she demanded compensation in shares. Uber accepted. The movement assured Beyoncé a small percentage of a company irremediably upward. Four years later.
How intelligent was that decision? Let’s move forward four years in time. After a decade of consolidated growth, Uber went public last week through an IPO of more than $ 8,000 million, at $ 45 a share. It is one of the most notable public entries in recent years, despite its immediate decline and despite the financial turbulence that haunts the company.
And how much are Beyoncé’s shares worth now? A lot more than $ 6 million.
Earnings. There is some dispute about the figures. One of the most shared stories during the last hours speaks of $ 300 million. It is a risky presumption and part of a mistaken basis: Beyoncé did not collect six million shares of Uber, but a package of shares valued at $ 6 million. It’s a crucial detail, which reduces your profits substantially: from the $ 300 million viralized to the most likely $ 9.
It is still a lot of money (50%), but not an astronomical figure.
Other investments Beyoncé was not the only celebrity interested in Uber’s early growth. Ashton Kutcher owns a part of the company since 2011. Lance Armstrong, once the wealthiest sportsman in the United States, put $ 100,000 in 2009, during the first rounds of Uber funding. Had he withheld the shares, today that sum would have been transformed into about $ 30 million (Armstrong claims to have earned enough money to “save his family” from his ruin). The examples are varied. There was a real battle to invest in Uber. For Beyoncé and Jay-Z, the daily bread. His last performance at Coachella only brought him $ 4 million. Why? Part of their emoluments were charged in the form of rights for a Netflix documentary … For $ 60 million.