Kalanick severs ties with ride-hailing giant

Travis Kalanick, who built Uber into a ride-hailing giant, is cashing out. Kalanick disclosed on Tuesday that he has sold off all his Uber stock-estimated at more than $2.5 billion-and is resigning from the board of directors, severing ties to the company he co-founded a decade ago.

"Uber has been a part of my life for the past 10 years. At the close of the decade, and with the company now public, it seems like the right moment for me to focus on my current business and philanthropic pursuits," the 43-year-old entrepreneur said in a statement.