Beyonce Reportedly Made $300 Million From Her Uber Investment
Uber went public last week and their shares have been plummeting ever since. Despite this, singer Beyonce has still managed to score a $300 million profit from her investment. Many are wondering how this is possible since Uber’s shares plunged during the first week, closing as low as 17% below its IPO price!
Well, according to The New York Times, Beyonce received $6 million in restricted stock units (RSUs) from Uber co-founder Travis Kalanick to perform at a private company event in Las Vegas in 2015.
Here’s a little bit of information about restricted stock units (RSU). It’s compensation issued by an employer to an employee in the form of company stock that are assigned a fair market value when they vest. Upon vesting, the stock units are considered income, and a portion of the shares is withheld to pay income taxes. The employee receives the remaining shares and can sell them at his or her discretion.
So, Beyonce, although not a regular employee of Uber, was in fact “an employee” temporarily when she performed at the company’s private event. While the exact value of the shares at the time is not known, it can be assumed that the value was around $20 to $25 per share.
But when Uber’s IPO initially debuted, it started trading at $42 per share. So, if she sold her shares immediately despite the IPO plummeting, she could have easily made $300 million or more from her shares.
Another win for the Beehive!
What If? See the Future of Smart Cities at CES 2019
OJO Electric Scooter
The OJO Electric Scooter will be introducing a new model for CES 2019, and we are truly excited for it! This newly designed personal light electric vehicle serves as a great urban solution to inner city commuting. The creators of the OJO Electric Scooter wanted to build an equivalent to Tesla and Apple in relation to inner city mobility, and although this sounds like a far-reaching ideal, Black Video News can assure you this has been accomplished. With its aesthetically and functionally pleasing design coupled with its zero-carbon emission framework, OJO has met its goal in capturing the hearts of the urban millennial who wants to save the world and make it to work in the most timely and fashionable manner possible.
The OJO Electric has a range of 25 miles per charge, which is leading among this industry. This is done through its patented lithium ion battery that has built in built into the ferrying, so you’ll always be able to charge it wherever as an outlet accessible! Along with this, the OJO electric scooter’s patented aluminum frame has the listed capacity of 300 pounds, but some suggest it has the capacity to hold up to 400 pounds. A key feature of this vehicle is its patented design, inspired by the surfboard! The curvature of the OJO Electric Scooter, allows it to be easily stood on, riding the wave of innovative technology, or you can sit in comfort and cruise around the city. Other notable features of the OJO Electric scooter include its dual Bluetooth speakers, LED lighting, and the fact that you do not need a license to operate this vehicle.
Black Video News is excited for the new model of the OJO electric scooter set to be displayed at CES in 2019. These immerging transportation technologies are transformative now and will be pivotal in times to come.