Beyonce Reportedly Made $300 Million From Her Uber Investment Despite Shares Plummeting
CNN/Stylemagazine.com Newswire | 5/17/2019, 2:21 p.m.
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.