Beyonce reportedly received $6 million worth of restricted Uber stock roughly four years ago.
With the company recently making their stock public there’s been some hefty claims surrounding Bey’s current investment worth — to the tune of $300 million — floating around on social media. However, while Queen Bey is one of the savvy early investors in the ride-sharing service, she’s not getting as rich as some believe.
The Grammy Award-winning megastar initially accepted the stock in lew of a performance fee after singing at an Uber corporate event. The company went public on the New York Stock Exchange on May 10 and a rumor is circulating that Bey’s investment is now worth $300 million.
After some fact checking, the actual number is being pinpointed closer to $9 million.
Beyoncé performed for Uber in 2015 and instead of accepting her $6m pay cheque, she requested to be paid in stocks, today it’s worth over $300m. Last year she took half of the $8m from coachella in exchange for the rights to the show, Netflix paid her $60m for it. Her acumen >>> https://t.co/k4un1FM1Ka
— Kelvin Lee Jones (@KelvinLeeJones1) May 14, 2019
“Beyonce was given $6 million worth of restricted stock units (RSUs). She was not given 6 million shares,” writes Celebrity Net Worth’s Brian Warner. “I think this huge distinction is where the fake news insanity of this story has gotten out of control. If you didn’t understand that Beyonce got $6 million worth of RSUs, as opposed to 6 million shares, you might have assumed that with 6 million shares at an IPO stock price of $45, Beyonce’s stake would be worth $300 million.”
Warner explains that with Uber’s current market cap of $67 billion and dilution over time, her stake worth actually comes out to around $9 million.
While the rumored $300 million Return on Investment may not have panned out, it’s still a win. JAY-Z, among other celebs, is also seeing his stock grow as he invested in the transportation service back in 2011.