Uber disclosed its ambition to be worth at least $120 billion as a public company in the footnotes of its S-1 documents.
The CEO will be granted 1.75 million in stock options that he can buy for $33.65 a share that vest over four years, should the company's market capitalization reach $120 billion for 90 consecutive days, the company said. Plus the CEO will be instantly awarded 185,735 shares that are otherwise earmarked to be doled out over time as part of his performance-dependent shares.
This is backed up by our own back-of-the-envelope math based on when Softbank bought its 16% stake in Uber at about $33 a share. That share price valued the company at $48 billion. So if Uber can more than double that valuation, and the stock price doubles, those 1.75 shares would be worth over $117 million.
Then again he gave up over $180 million of stock options when he left Expedia to take the Uber job, Primack notes.
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