Before the sinking: Lance Armstrong is cheered on by the crowd during the Champs Elysees in Paris on July 25, 1999.
Patrick Kovarik | AFP | Getty Images
Ashamed former professional cyclist Lance Armstrong told CNBC that he had advice for Donald Trump and said the president should “somehow negotiate a cap on his legal fees at this point.”
Armstrong was given a life-long ban on all sports that follow the World Anti-Doping Code in 2012 after it was found out he was using performance-enhancing drugs for cyclists. Seven consecutive Tour de France titles have been revoked.
In April 2018 Armstrong reportedly agreed to pay $ 5 million to the federal government to avoid a $ 100 million lawsuit. As part of that deal, he paid $ 1.65 million to his former teammate and whistleblower Floyd Landis.
Armstrong denied doping allegations until an interview with Oprah Winfrey in 2013. The interview prompted then-businessman Donald Trump to tweet: “Lance Armstrong did himself great harm last night. Lawsuits and failures will follow him.”
Trump could look for one Investigation by the New York Times noted that the president has paid very little tax over the past decade.
A White House spokesman was not immediately available to comment.
Regardless, Armstrong looked at the upcoming US presidential election and said, referring to last week, “I just don’t think this is the best America has.” first debate between President Trump and Democratic candidate and former Vice President Joe Biden.
Armstrong criticized Trump’s handling of the coronavirus pandemic, saying, “I don’t think he’s doing a great job.”
He added that Trump “has a real disdain for the media, but I appreciate that too.”
Pandemic ‘silver lining’
Armstrong’s venture capital firm Next Ventures invests in companies in the health and wellness industries. He raised However, just $ 24.5 million from an expected $ 75 million in 2019, CNBC said the pandemic could benefit its fund.
Covid-19 “has been a silver lining for us as a fund in many ways,” he said. “It is not just American society but all societies being forced to reset their health and well-being.”
Armstrong is no stranger to the startups world, an early investor in Uber who raised $ 100,000 in 2009 when the company was valued at just $ 3.7 million.
In 2018, Armstrong told CNBC that His Uber investment “saved” his family after being forced to pay millions in settlements because of his doping scandal.
Bicycle for Beirut
The former professional cyclist spoke to CNBC from Dubai during a trip to the region to raise money for the region’s victims massive explosion that shook Beirut’s port in August. The disaster killed 193 people and caused billions in damage.
Dozens of cyclists took part in Bike for Beirut, a bike tour through the city center. Beirut was hit by an economic crisis even before the explosion.
“The consensus is that they are not hopeful,” said Armstrong.