Lance Armstrong Net Worth

Lance Armstrong Net Worth is estimated to be roughly $50 Million, As of June 2024

Lance Armstrong, an American professional road racing cyclist, gained recognition as a sports icon due to his victories in the Tour de France. He started his competitive cycling career at the age of 16. From 1993 to 1996, he competed in the World Championship.

What is Lance Armstrong’s net worth?

Lance Armstrong is an American professional cyclist, author and public speaker who has a net worth of $50 million. At the peak of his career, Lance’s net worth was $125 million and growing rapidly.

Lance Armstrong
Lance Armstrong

Lance was the Michael Jordan of processional cycling. And just like Mike, at one point Lance was among the highest-earning athletes in the world, regularly earning up to $20 million+ per year from endorsements and prize money. For several years of his retirement, before his scandals really exploded, Lance continued to earn roughly $15 million per year from speaking engagements, public appearance fees and sponsorships.

Career Beginnings

Armstrong began his career in sports as a swimmer in the City of Plano Swim Club. However, he soon switched over to racing on land, and at the age of 13 won the Iron Kids Triathlon. A few years after that, Armstrong became a professional triathlete; he went on to become the national sprint-course triathlon champion in both 1989 and 1990.

Lost Fortune

During his interview with Oprah Winfrey in January 2013 when he admitted to doping. Lance estimated that the loss of endorsement deals from this scandals could eventually cost him $75 million in terms of lost endorsements, legal settlements and lawyer fees. The U.S. Federal government could have sued Lance for $100 million had the lawsuit gone to trial. Lance ultimately settled that lawsuit for $5 million.

Doping Scandal

Armstrong had been accused of doping for much of his professional career, but persistently denied the allegations. The controversy became a full-blown scandal in 2010 when cyclist Floyd Landis admitted to doping and accused Armstrong and others of doing the same.

Consequently, federal prosecutors from the US Justice Department launched an investigation of Armstrong and his cycling team. The investigation was ultimately dropped in early 2012 with no charges. Later that year, the United States Anti-Doping Agency accused Armstrong of doping based on blood samples and witness testimonies; he was soon formally charged with running a doping ring. As a result, Armstrong was stripped of all his wins dating back to August of 1998, and was banned from all sports obeying the World Anti-Doping Code. Finally, in early 2013, he admitted to doping.

Lance Armstrong Net Worth

 

Early Life

Lance Edward Gunderson was born on the 18th of September, 1971, in Texas. Gunderson is the son of Eddie Charles and Linda Gayle.

Gunderson is of Dutch, Canadian, and Norweigan descent. He was named after the Dallas Cowboys wide receiver, Lance Rentzel. When Armstrong was two, his parents divorced; his mother remarried to Terry Armstrong the following year, and he adopted his stepfather’s surname.

Motorola Cycling Team

In 1992, Armstrong joined the Motorola Cycling Team. The following year, he won numerous races, most notably the World Road Race Championship in Norway. In 1994, Armstrong won his second Thrift Drug Classic, and in 1995 won the Clásica de San Sebastián and the Tour DuPont. He won the Tour DuPont again in 1996, and also became the first American to win the La Flèche Wallonne.

Cancer Battle

At the age of 25 in 1996, Armstrong was diagnosed with advanced testicular cancer. He underwent an orchiectomy to remove the diseased testicle, but was told he had a slim chance of survival. However, Armstrong went on to receive various treatments at the Indiana University medical center that effectively saved him. In early 1997, he appeared at the first training camp of the Cofidis team, and shortly after that was declared cancer-free.

Return to Cycling and Tour de France Titles

Following his successful battle against cancer, Armstrong mounted his return to road racing. He entered seclusion in North Carolina with former rider Bob Roll and cyclist Chris Carmichael and trained in the Appalachians. Armstrong went on to enter and win the Tour of Luxembourg, and then to finish in the top five of the Vuelta a España. In 1999, he won his first Tour de France, although his success was shadowed by allegations of doping. Armstrong went on to win the next six consecutive Tour de Frances through 2005. He subsequently announced his intention to retire.

Lance Armstrong Net Worth
Lance Armstrong

 

Armstrong’s Final Cycling Years

Armstrong came out of retirement in 2009 with the intent of competing in the Tour de France. Ultimately, as part of the Astana team, he finished the tournament in third place. Armstrong competed again in the Tour de France in 2010, this time with Team RadioShack; it was to be his final tour. Stymied by the aftermath of a pair of crashes early on, he finished in 23rd place. However, Armstrong had better success in the team competition, helping Team RadioShack win over Caisse d’Epargne. In early 2011, he announced his official retirement from competitive cycling amid an ongoing federal investigation into doping allegations against him.

Personal Life and Charity

In 1998, Armstrong married Kristin Richard; together, they had a son and twin daughters before divorcing in 2003. That year, Armstrong began dating singer-songwriter Sheryl Crow, to whom he got engaged in 2005. Ultimately, the pair split in early 2006. Two years later, Armstrong started a relationship with Anna Hansen; they soon had a son and daughter. The couple married in the summer of 2022. Armstrong owns homes in Austin, Texas and Aspen, Colorado. In the former city, he owns a coffee shop called Juan Pelota Cafe and a bike shop called Mellow Johnny’s.

One of Armstrong’s most significant endeavors has been his charitable Lance Armstrong Foundation, which he founded in 1997 to support people impacted by cancer. From the sale of its iconic Livestrong bracelets, the Foundation has raised over $500 million. Armstrong also helped establish Athletes for Hope, which helps professional athletes get involved in charitable causes, and helped fund Wonders & Worries, which supports children who have a parent struggling with a serious illness.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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