'They treat us like crap': Uber drivers feel poor and powerless on eve of IPO
by Michael Sainato from on (#4EM04)
Wage cuts and inadequate bonuses mean drivers are left behind as ride-hailing firm prepares for stock market debut
A lot of very rich people will get even richer when Uber goes public on 9 May in one of the most anticipated initial public offerings (IPO) to hit the stock market in 2019.
Travis Kalanick, Uber's founder, could see his 8.6% stake in the company valued at close to $8bn if the company is valued at $90bn plus. One early investor, the Amazon founder, Jeff Bezos, has a $3m stake in the company estimated to now be worth $400m. Uber's current CEO, Dara Khosrowshahi, could make at least $100m from stock options on top of his salary of $45m in 2018.
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