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!
1st African American USAA Chairman to Retire
Retired U.S. Air Force Gen. Lester Lyles has announced the next USAA’s membership meeting in August will be the last as chairman.
Since 2004 General Lyles has been on USAA’s board of directors. He told members that he deeply appreciates their trust and thanked them “for your loyalty through the years” in a recent letter that was part of the annual membership report.
Born April 20, 1946 General Lyles is a former United States Air Force general, Vice Chief of Staff of the United States Air Force, and Commander, Air Force Materiel Command, Wright-Patterson Air Force Base, Ohio. After retirement from the Air Force in 2003, he became a company director for General Dynamics, DPL Inc., KBR Incorporated, Precision Castparts Corp., MTC Technologies, Battelle Memorial Institute and USAA. Lyles is also a Trustee of Analytic Services and a Managing Partner of Four Seasons Ventures, LLC.
In 2017, Lyles earned $461,034 from his role as board chairman, up from $449,910 in 2016. In 2018, Lyles earned $458,499 in salary for the role, records show.
Botswana’s First Skyscraper and Tallest Building
Located in the capital city of Gaborone, Itowers is an establishment comprised of three buildings in total, with the tallest South Tower rising 28 levels above the ground – making it Botswana’s tallest building, an iconic landmark in the city. Located in the center of the city’s vibrant new Central Business District just 20 minutes away from the airport, this complex of condominiums, apartments, office and retail space is perfectly suited for businessmen, diplomats and tourists seeking comfortable temporary accommodations.
It’s also in close proximity to all major government offices, shopping malls, and tourist attractions including the Square Mart Shopping Centre (just 1.2 km or 3/4 mile away), and the Three Dikgosi Monument (also just 1.2 km or 3/4 mile away).
Itowers has 54 outstanding apartments comprising of: 36 Standard rooms, 6 Premium rooms 12 Premium Plus rooms, with balconies opening to city views. They have 2 paraplegic friendly rooms and 12 family rooms.
In addition, Itowers features an on-site stylish and contemporary restaurant called Table50Two, located on the 28th floor of the south tower. The beautiful outdoor setting is set in a loft-life lounge ambience with lounge sofas and breathtaking views of the city. The unique and world class menu is complemented by a comprehensive choice of wine and beverages. It is the highest dining venue in all of Botswana.
When built, the project not only made an impact on the city of Gaborone, but also to the livelihoods of everyone involved in this multi-million dollar project. A total of 4.8 million man hours, 3.5 million bricks, 28 400m3 of cement and millions more hopes and dreams went into designing, erecting and completing the landmark towers.
Botswana is a landlocked country in Southern Africa. Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth in 1966. Since then, it has been a representative republic, with a consistent record of uninterrupted democratic elections and the best perceived corruption ranking in Africa since at least 1998. It is currently Africa’s oldest continuous democracy.
Living Inside the Box
By Lisa Harrison Rivas
Local entrepreneur aims to bring more shipping container homes to S.A.
It’s no secret that in San Antonio and much of the nation home prices are on the rise. Affordability is an issue in many communities, and this has led to thinking outside of the box when it comes to creating housing that is both affordable and appealing. The tiny house option is one way some are downsizing their living space as well as their debt. Shipping container homes are another unique dwelling option.
Though not a new concept, these homes are not common in the San Antonio area, but master designer Anya K. Bartay wants to change that. She has designed a house on the East Side using two shipping containers, and she also can incorporate several of the 40′ x 8′ containers to build a multi-level home that’s as big as a traditional house. The base price for a 2,000 square-foot home is around $220,000.
Her love of design and architecture began when she was a child. She spent part of her childhood in Panama and said that experience helped her appreciate the value of what we have in the United States.
She also credits her life in Panama with spurring the creation of Project N.O.A.H which stands for Net Zero Affordable Housing. Bartay stresses she is not designing government housing but housing that is affordable.
One of the homes she designed sits on the East Side and will become an Airbnb rental so that people can see what a shipping container home is like before they buy one. And soon, Bartay and her family will move into a container home she is building in Northeast San Antonio. It will be a model home she and her family will be living in for a year to provide data on how the house impacts the environment.
“We’re going to work with UTSA, CPS, Eco Central on monitoring all of the systems that are going to be implemented in that house. The solar, the rainwater collection to see how much is real, how much we use. To see how less of an impact we create with that house.”
Bartay recently discussed her plans to bring more shipping container homes to San Antonio.
Q: What are you working on right now?
A: I’m working on a partnership with a factory that is already building shipping container homes to facilitate my need for the construction and to help them with their need for sales. We do have a subdivision that we have in mind. The owners of that property (on the Southside) said they will give us the land and we will create a neighborhood.
Q: Why would someone choose to buy a shipping container home?
A: The first thing is safety. The container is resistant to tornados, hurricanes, torrential winds. Lots of construction won’t withstand those different disasters.
Q: How do people react to your project?
A: When I give them a proper understanding of what container homes could look like, their reaction is wonderful.
Q: How did you become interested in building shipping container homes?
A: What I did was start doing searches and finding out what would be acceptable to present to people I worked with who needed a little bit of financial assistance getting their architectural needs met. So, shipping containers came up.
Q: Have you talked to city officials?
A: I have presented this to Bexar County Commissioner Tommy Calvert Jr., Senator Jose Menéndez, Neighborhood Housing Services of America and SAHA. And they’ve all agreed to using it.
Q: So how did you get training to build these homes?
A: Once I had a nonprofit ask me about my designs, and then I got an investor. I looked up the details on YouTube and I put them into practice and started doing the work myself. I’ve been drawing it for years, so it’s just doing it now.
Q: Describe your style
A: I have 75 percent masonry on the outside and all the different means that everyone has for permanent housing. We are embedded into the foundation. And one of the biggest things is that we provide a thermal insulation coating and a rust-o proof coating for the container so that we avoid mold or any kind of disease.
Q: How much would a basic container home cost?
A: $110 a square foot (40-foot long containers are used). We have closing costs and money down assistance for an FHA or conventional loan.
Q: What type of foundation do the homes have?
A: We can do piers if you have elasticity in the soil. And you can do a regular slab on grade if you have nice solid bedrock.
Q: How long does it take to complete?
A: It should take no more than three months, but we’re going to be striving for one and a half. Most of the construction happens in one day. If it’s a custom, we’ll say three to six months.
Q: What are some of the things you can do to customize a container home?
A: Instead of sheetrock, you may want to use wood paneling, or put brick on the outside, or have an accent wall. You can do a lot of different variations of finishes.
Q: Do you help clients come up with a design?
A: We try to help get the psychology behind the client’s needs and implement it into the design.
Lisa Harrison Rivas is a Realtor with Berkshire Hathaway HomeServices, Don Johnson Realtors. If you are planning to buy or sell, feel free to contact her at 210-380-9006 or email@example.com