The Lance Armstrong Foundation Made $3 Million On The Demand Media IPO

Lance Armstrong

Photo: AP

Lance Armstrong’s philanthropic organisation made $3.1 million this week, according to the Austin American-Statesman, by selling shares of Demand Media during its IPO.The Lance Armstrong Foundation sold 115,000 shares, plus more donated by Armstrong himself at the sale price of $17.

The foundation received the stock options as part of licensing deal that led to the creation of the website

Armstrong also received personal shares himself, but he was not listed among those who sold as part of the IPO.

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