Uber Technologies Inc. (UBER) is best known for its ride-hailing service whose Uber app matches consumers looking for ride services. The company was founded in 2009 and reached 1 billion rides by 2015. Four years later, it went public in an IPO in May of 2019. The global COVID-19 pandemic has caused a drastic decline in Uber's traditional ride service and its revenue. Uber has diversified its revenue stream by launching a food order and delivery business, Uber Eats, as well as a freight shipping service, Uber Freight. Like the initial ride-hailing service, these other offerings match consumers up with providers. Despite these new business lines, Uber continues to report massive quarterly losses. It's also facing other headwinds. A federal court ruled in January that the company must face parts of a class-action lawsuit from 48,000 drivers in in California.
The top shareholders of Uber are Dara Khosrowshahi, Tony West, Nelson J. Chai, SB Investment Advisers (UK) Ltd., Morgan Stanley, and FMR LLC.
As of January 27, 2021, Uber had trailing 12-month (TTM) revenue of $13.0 billion and TTM net income of -$6.9 billion, with a market capitalization of $89.1 billion.
Below, we take a closer look at the top shareholders of Uber.
"Insider" refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.
Top 3 Individual Insider Shareholders
Dara Khosrowshahi owns 913,505 shares of Uber, representing 0.05% of all outstanding shares. Khosrowshahi was appointed CEO of Uber in 2017, replacing Uber's controversial founder and CEO, Travis Kalanick. In his new role as CEO, Khosrowshahi manages the company's 22,000 employees. Prior to Uber, he was CEO of Expedia, where he helped to grow the company into one of the world's largest online travel firms. He has also previously been chief financial officer of IAC Travel and vice president of Allen & Company, an investment banker. Khosrowshahi is on the boards of Expedia and Catalyst.org.
Tony West owns 189,032 shares of Uber, representing 0.01% of all outstanding shares. West is chief legal officer, senior vice president, and corporate secretary of Uber, where he leads the Legal, Compliance and Ethics, and Security teams. Previously, West was corporate secretary and executive vice president of public policy and government affairs of PepsiCo, Inc. (PEP). From 2012 to 2014, West was associate attorney general of the United States under President Obama. In this role he oversaw the Department of Justice's Civil Rights, Antitrust, Tax, Environment and Natural Resources, and Civil Divisions. During his tenure, West pursued banks involved in the 2008-2009 financial crisis, helping to secure $37 billion in fines and restitution.
Nelson J. Chai
Nelson J. Chai owns 180,528 shares of Uber, representing 0.01% of all outstanding shares. Chai is chief financial officer of Uber, having previously served as CEO of Warranty Group, an insurance and warranty provider. He has also been a president of CIT Group, chief financial officer of Merrill Lynch & Co., and has held executive leadership positions at NYSE Euronext and Archipelago Holdings. Chai sits on the board of Thermo Fisher Scientific.
Top 3 Institutional Shareholders
Institutional investors hold the majority of Uber shares at about 70.6% of total shares outstanding.
SB Investment Advisers (UK) Ltd.
SB Investment Advisers (UK) Ltd. owns 222.2 million shares of Uber, representing 12.6% of total shares outstanding, according to the company's 13F filing for the period ending September 30, 2020. The company is a subsidiary of SoftBank Company, a Japanese strategic holding company investing in technology companies. SB Investment Advisers manages SoftBank's primary investment vehicle, the Vision Fund, which has been a big owner of Uber shares. The Vision Fund manages a portfolio of roughly $100 billion in investments.
Morgan Stanley owns 101.5 million shares of Uber, representing 5.8% of total shares outstanding, according to the company's 13F filing for the period ending September 30, 2020. The company is a multinational financial services and investment firm whose offerings include mutual funds, ETFs, and related products. The firm has capital markets, sales and trading, research, and investment banking branches, and its investment management businesses has AUM of roughly $715 billion. Morgan Stanley's Growth Portfolio (MSEQX) holds UBER, which is the 5th-largest holding in the portfolio, representing about 4.8% of assets.
FMR LLC, which operates under the name Fidelity, owns 82.3 million shares of Uber, which represents 4.7% ownership of the total shares, according to the company's 13F filing for the period ending December 31, 2020. Fidelity is a financial services firm that sells and operates a large number of ETFs and mutual funds, as well as offering brokerage and wealth management services. Fidelity had $3.8 trillion in assets under management as of December 2020.