People Magazine reports that Bey received $6 million in restricted stock units (RSUs) from Uber co-founder Travis Kalanick to perform at an event. That’s what she meant when she said to pay her in equity in “Apesh*t” featuring her husband, JAY-Z.

With the IPO, Queen Bey is estimated to profit $300 million from her shares. MarketWatch calls Uber’s IPO, “the biggest in years” and that the company “raised more than $8 billion,” although it fell short of its projected $100 billion.

 

FullSizeRender.jpg

 

Forbes have confirmed that A-listers such as Ashton Kutcher, Gwyneth Paltrow, Jay-Z and Oliva Munn are investors in Uber, while other celebrities reported to have invested include Leonardo DiCaprio, Jared Leto and Beyoncé.

Inside Edition reports that instead of directly investing, Beyonce was once paid in company shares for a performance at a private Uber party – this was instead of earning her usual estimated $6 million fee.

Initial reports claimed that Beyoncé’s shares could now be worth $300 million, but according toCelebrity Net Worth, due to Uber’s current market cap of $67 billion and likely dilution of shares since 2015, the ‘Lemonade’ singer’s Uber stock is most likely worth about $9 million.

 

FullSizeRender.jpg
FullSizeRender.jpg

The National Labor Relations Board, handing an important victory to Uber, has concluded that the company’s drivers are contractors, not employees.

The move, outlined by the board’s general counsel in a memorandum released Tuesday, deals a blow to drivers’ efforts to band together to demand higher pay and better working conditions from Uber and its main rival in the ride-hailing business, Lyft. It is the first major policy move the board has made concerning the so-called gig economy under President Trump.

Contractors lack the protection given to employees under federal law — and enforced by the labor board — for unionizing and other collective activity, such as protesting the policies of employers. As a practical matter, the conclusion makes it extremely difficult for Uber drivers to form a union.

The board’s general counsel, Peter B. Robb, who was appointed by Mr. Trump, does not have purview over other laws applying to employees, such as minimum wage and overtime protections.

Comment