Lance Armstrong Net Worth: Career & Business
The American professional road racing cyclist, author, and public speaker Lance Armstrong has a whopping $50 million net worth.
Armstrong was exposed to his seven consecutive Tour de France titles from 1999 to 2005 after being tested for doping and his admission to using performance-enhancing drugs.
Lance started his career as a professional cyclist with the Motorola team in 1992.
He was at the peak of his career between 1993 and 1996, with several championships to his name.
He won the 1993 World Championship, 1995 Clasica de San Sebastian, 1995 and 1996 Tour DuPont, and several other victories in Europe.
However, he was diagnosed with a potential testicular cancer in 1996. After full recovery, he established Lance Armstrong Foundation to help other cancer survivors. The foundation is now called Livestrong Foundation.
Further, Lance won seven Tour de France titles after returning to cycling in 1998.
However, he retired from professional racing at the end of the 2005 Tour de France.
Nonetheless, he again made a comeback cycling with the Astana team in January 2009. Furthermore, he finished third in the 2009 Tour de France.
He retired for the second time in 2011 but became the subject of doping allegations. However, he denied his involvement in doping.
Later in 2012, United States Anti-Doping Agency investigation concluded that Lance had used performance enhancement drugs.
Consequently, he received a lifetime ban from all the sports ending his cycling career.
Lance Armstrong, originally Lance Edward Armstrong, was born on September the 18th, 1971, at Methodist Hospital in Richardson, Texas.
Eddie Charles Gunderson’s father was route manager for Dallas Morning News, who died in 2012, and his mother, Linda Gayle, was a secretary.
Lance is of Dutch, Canadian, and Norwegian ancestry.
Lance was named after a wide receiver of a Dallas Cowboys Lance Rentzel.
In 1973 his parents divorced when he was just two years of age.
His mother married the wholesale salesman Terry Keith Armstrong the very next year. He adopted Lace that year.
|Full Name||Lance Edward Armstrong|
|Date of birth||September 18th, 1971|
|Age||51 Years Old|
|Place of birth||Richardson, Texas, United States|
|Current residence||Aspen, Colorado, United States|
|Hobbies||Running, Swimming, Cycling, triathlons|
|Father’s name||Eddie Charles Gunderson|
|Mother’s name||Linda Mooneyham|
|Siblings||Larry Armstrong, Sonnie Michaels Gunderson|
|Profession||Road Racing Cyclist, Author, and Public Speaker|
|Sponsors||Nissan, SRAM, Oakley|
|Height||5 Feet 9 Inches, 1.77m|
|Weight||75 kg, 165 lbs.|
|Hair color||Light brown|
|Wife||Kristin Richard (1998-2003)|
|Children||Luke Armstrong, Olivia Marie Armstrong, Isabella Armstrong, Max Armstrong, Grace Armstrong|
|Education||Graduate high school in 1989|
|Net worth||$50 Million|
|Social Media||Facebook, Instagram, Twitter|
|Last Update||March, 2023|
Net Worth and Income
An American retired professional road racing cyclist, public speaker, and author Lance Armstrong have an astounding net worth of $50 million as of 2023.
At the peak of his professional career, Lance Armstrong had a staggering $125 million net worth.
He was among the highest-earning athletes globally, earning more than $20 million per year regularly from prize money and brand endorsements.
Before his doping scandal exploded, he made roughly $15 million each year from his public appearances fees, speaking engagements, and sponsorships.
Lance lost not less than $75 million in terms of lost endorsements, lawyer fees, and legal settlements following his doping.
The federal government of the US could have sued Lance for more than $100 million had the lawsuit gone to trial. However, Lance settled the lawsuit for $5 million.
Similarly, Lance had made a lucrative investment in the ride-sharing company call UBER. Reportedly, Lace invested his money in the early day of the company, which is now worth millions.
His investment of $100,000 back in the day is now worth $30 million since the company is valued at $120 billion.
Net Worth of Lance Armstrong in Different Currencies
Let’s have a look into Lance Armstrong’s net worth in different currencies, as of March, 2023.
|Euro||€ 42.76 million|
|Pound Sterling||£ 36.36 million|
|Australian Dollar||A$ 68.94 million|
|Canadian Dollar||C$ 63.12 million|
|Indian Rupee||₹ 3,717,000,000|
Houses and Cars
West Austin home, Texas
Lace purchased this house for $1.5 million in West Austin after selling a larger property in 2018.
The house sits on an 8,282 square feet plot, and the house spans over 3,011 square feet.
Similarly, the house was built in 1931 that features four bedrooms and a detached guest house.
However, Lance sold the house for $2 million in 2020.
Old Enfield House, Austin
The house was built in 1924. It was remodeled heavily to give some contemporary touches. The Mediterranean-style house sits on close to half-acre of land across the street from Pease Park in the historic Old Enfield neighborhood.
Even though the house was remodeled, it still has its original style and charm.
The main house has 8,158 square feet of living space over three-story. House features spacious living areas for families on the first floor, five beds suites on the second level, and seven full and one-half baths.
The third floor also has a large bedroom with an ensuite bathroom.
Outside of the house features a huge pool with a fountain, tons of lounging areas, a separate pool house with a kitchenette, and a full bathroom.
Just like his other house, he listed the property for a whopping $7.5 million in 2018.
Aspen House, Colorado
Lance purchased this mega-mansion back in 2008 as it was being built and splashed over $9.2.
The house spans over 5,915 square feet of living space with five bedrooms, five full and five half bathrooms.
It features solid wood doors, a gourmet kitchen, a spacious and comfortable family room, a wine room, a covered patio, and an entertainment room with a pool table.
Lance listed this house for $14.5 million with a 20% down payment of $2.9 million. The monthly payment would be approximately $48,134 on a 30 year fixed rate mortgage at an interest rate of 2.87 percent.
Unlike his choices of houses, Lance does not seem to be a huge car guy.
He drives rather decent cars as opposed to shiny ones.
Nissan LEAF is a compact and stylish five-door hatchback electric vehicle manufactured by Nissan.
It was introduced in 2010, first in Japan and in the United States, and is currently the second generation which was introduced in October of 2017.
Thanks to several minor improvements, LEAF’s range on full charge has been increased from 117 km to 364 km during its product life cycle.
The car was awarded Green Car Vision Award in 2010, European Car of the Year in 2011, and 2011-2012 Car of the Year Japan.
The price of the car starts from $27,400.
Nissan LEAF is listed as the world’s all-time top-selling plug-in electric car through December 2019.
GMC Yukon is a full-size SUV that comes with a 5.3-liter V8 engine that generates 355 brake horsepower and 383 pound-feet of torque.
The base price for the SUV is $50,000.
Back in 2015, Lance was involved in a crash along with his girlfriend, Anna Hansen.
The SUV allegedly crashed into parked cars, of which his girlfriend Anna Hansen took full blame to keep Armstrong out of national headlines.
However, it was later revealed that Lance was the one driving the car, and he was a little drunk, which made him lose control of the car and banged on the parked cars.
Lifestyle and Vacations
After the doping, Lance was banned from all sports; however, he still continues to cycle but not competitively.
He shares his cycling updates on his social media handle and takes part in non-competitive races worldwide.
Lance is living a pretty luxurious lifestyle given by his net worth.
He is an avid art collector. In fact, he’s been collecting the art pieces for almost twenty-plus years.
Similarly, Lance also loves drinking wine and beer.
Lance was diagnosed with testicular cancer on October 2, 1996. As a result, he had to go through two operations; One to remove the testis and the other to remove the cancer metastases from the brain.
He also had to go through intense chemotherapy.
These days Lance just loves spending his time with his family.
As for vacations, Lance loves going on exotic vacations.
Back in 2014, Lance was spotted enjoying a Hawaiian vacation with his girlfriend and two children.
He was seen showing off his curves as he paddled shirtless in the sea.
Other than this, no information about vacations is available.
Lance Armstrong has his own foundation, which he established after he recovered from testicular cancer. The foundation was called Lance Armstrong Foundation but later renamed to Livestrong foundation.
The foundation raised over $500 million for cancer research, treatment, and support. Lance himself donated over $6.5 million personally.
Apart from that, Lance Armstrong has been involved in 15 charitable organizations and supports 15 causes, including Cancer, Children, Poverty, Sports, Physical Challenges, and many more.
Similarly, Lance took part and ran in NY Marathon in support of his foundation Lance Armstrong Foundation.
Likewise, Lance also donated his shoe which he wore during one of his Tour de France wins, to be auctioned off for Leukemia Research.
Movies, Endorsements, Investments, and Books
Lance Armstrong has made some screen appearances throughout his career.
In 2017 he appeared in the TV Movie Tour de Pharmacy; similarly, in 2004, he appeared in Dodgeball: A True Underdog Story.
Likewise, Lance also appeared in 2006 You, Me and Dupree and 2008 The Simpsons.
During the peak of his career, Lance endorsed some of the top brands in the world, including Nike, Honey Stinger, Trek, Easton-Bell Sports, Motorola, and 24-hour fitness.
However, after his doping scandal, he lost all of his endorsement deals which cost him more than $75 million.
As he was banned from professional racing due to allegations that he used steroids.
Along with his endorsement deals, Lance was forced to give up his seven Tour de France medals.
Apart from investing in real estate, Lance also invested in a company that would later deliver him a multi-million dollars fortune.
At a time, Lance was having a hard time in terms of finance, but his investment in a ride-sharing company Uber saved his family financially.
As he stated in one of the interviews, he invested about $100,000 in Uber when the company was valued at only $3.7 million.
During that time, he was making a ton of money from his endorsement deals and cycling career.
He did not even have any idea what Uber was at that point in time.
Currently, Uber has a total market value of $120 billion. Even though we do not know the actual number about how much Lance earned from the investment, but it’s presumably pretty valuable today.
Some sources even claim that Lance made over billion dollars from the investment, but that would be completely untrue.
Lance’s Uber investment is not more than $30 million today.
Probably even less than that with the tax cuts and other government charges.
But we cannot deny that the investment was just $100,000 and is worth more than $20 million after taxes. Pretty Impressive.
During the course of his career, Lance has authored numerous books.
On May 22, 2000, his first book titled It’s Not About The Bike, which Sally Jenkins co-authored.
The book is the autobiography and highlights his Tour de France wins and drugs allegations.
Similarly, Lance published his second book in 2001 titled Lance Armstrong Performance program.
The book highlights his comeback after retirement and his battle against testicular cancer.
Likewise, on October 7, 2003, Lance published Every Second Counts.
Furthermore, his other books include Images of Champion, Lance Armstrong, A Survivors Story, and The Official Tour de France.
Lance began his sporting career as a swimmer ad the age of 12 at the city of Plano Swim Club and completed fourth in Texas state 1,500-meter freestyle.
Armstrong started his professional career with Motorola Cycling Team, the successor of the 7-Eleven team, in 1992.
Lance won 10 one-day events and stage races, but his breakthrough victory was the World Road Race championship which was held in Norway in 1993.
He took his first win at the Tour de France on the stage from Chalons-sur-Marne to Verdu, which was before his world championships win.
Lace won the Thrift Drug Classic and came second in the Tour DuPont in the United States in 1994.
Later in his career, he would win seven Tour de France and make history.
However, after testing for doping, it was proved that he used performance enhancement drugs, so he gave up all the medals.
Unknown Facts About Lance Armstrong
- Lance started a podcast, The Move, in 2017, which was focused on the coverage of the Tour de France.
- On January 17, 2013, In an interview with Oprah Winfrey, Armstrong admitted to using performance-enhancing drugs during his cycling career.
- Nike terminated its contract with Armstrong on October 17, 2012.
- Lance finished 23rd place at his final Tour de France in 2010.
Is Lance Armstrong free of cancer?
In February 1997, Armstrong was declared cancer-free.
Did Lance Armstrong lose all his medals?
Yes, Lance returned his medal because of his use of drugs. Lance reportedly made his teammates take drugs as well.
Did Lance Armstrong date Olsen twin?
Yes, Lance dated Ashley Olsen back in 2007. Lance was 36 ad Ashley was 21 at that time.
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