Three-time Tour De France champion cyclist Gregory LeMond has a net worth of $40 million.
Greg LeMond, aka L’Americain, is a former professional cyclist from America. He was a dominant athlete in the late 80s and had multiple awards to this name.
Also, LeMond’s vision of technological advancements is what sets him apart from others. His vision is still taking the cycling scene forward to this day.
His significant records include a win in Tour De France in all three categories. Furthermore, he has won the Road Race World Championship two times.
Additionally, his character of being an investor over endorser has made his career full of ups and downs.
Before we break down Greg’s properties and wealth, let us explore some quick facts about him.
|Fullname||Gregory James LeMond|
|Birthdate||June 26, 1961|
|Age||61 years old|
|Weight||148 lbs (67 kg)|
|Parents||Bob LeMond (Father)|
Bertha LeMond (Mother)
|Siblings||Kathy LeMond (Sister)|
Karen LeMond (Sister)
|Children||Scott LeMond, Simone LeMond, Geoffrey LeMond|
|Education||Earl Wooster High School|
La Vie Claire
|Tour De France Wins||1990 Tour de France, 1989 Tour de France,1986 Tour de France, 1985 Tour de France and 1984 Tour de France|
|Awards & Achievements||Sports Illustrated Sportsman of the Year: 1989|
Jesse Owens International Trophy: 1991
Korbel Lifetime Achievement Award: 1992
|Net Worth||$40 Million|
|Merch||Cycling Shorts, Cycling Jersey|
|Last Update||December, 2022|
Gregory LeMond Net Worth and Income
The cyclist, Greg LeMond, made his huge net worth of $40 million from cycling and major investments. His net worth has grown over the years despite his history of controversies.
Greg was the first cyclist to sign a million-dollar contract. Bernard Tapie, a French businessman, signed LeMond to a three-year deal worth $1 million in 1985.
Similarly, he was the first cyclist to use “triathlon handlebars” at the peak of his career in 1989.
Greg finished the tour with a first position finish. Accordingly, he signed a three-year contract worth $5.5 million with Z–Tomasso of France.
Also, Greg struck an agreement with Japanese investors for a capital of $2 million. The Japanese company was eager to invest in “LeMond Bicycles.”
In 2005, Greg received a $3.46 million grant, according to LeMond’s lawyer. Greg had filed a lawsuit against PTI Holdings Inc. after a breach of his contract.
In 2007, LeMond and his partners settled his lawsuit with the Blixseths for $39 million. He had found out about unfair payouts happening within the partner parties.
According to Cyclingnews, Trek and Greg had a confidential law settlement in 2010. The exact fee isn’t known, but Trek also donated 200K to his charity.
Per Geelong, LeMond Composites received $2.5 million in 2017. The Australian Federation Government themselves funded Greg’s company.
In 2021, Greg’s bike technologies are trying to gain more exposure to new markets. Therefore, his net worth is sure to grow in the upcoming years.
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Gregory LeMond | Cars and House
Greg LeMond lived in his base in Belgium during the peak of his career. Over time he invested in multiple real estate.
The cyclist has a mansion in Minnesota designed by architect Ken Durr. It was a Georgian-style mansion built-in 1988.
Likewise, this luxurious mansion featured six bedrooms, seven bathrooms, and three half-baths. The real estate covered an area of over 11,550 square feet of space.
Yet, he relocated his family to the Minnesota home and stayed to compete in Europe.
In 2008, Greg’s controversy with Lance Armstrong produced backlash for him. Hence, they left their mansion in Belgium to Minnesota to heal.
In 2002, LeMond invested in the exclusive Yellowstone Club. He joined with his five close family and friends for this investment as partners.
Each of the five partners paid $750,000 to Blixseth for a 1% stake. Greg also owned a home at the resort and bought several building lots.
However, things turned ugly for Greg in this investment too. In 2006, Greg and partners sued Blixseth for $39 million and other terms.
Greg and his family relocated from Minnesota to Oak Ridge, Tennessee, in 2017. Thus, they got closer to LeMond Composites’ $125 million manufacturing plant.
Further, Greg has listed his Minnesota mansion for sale at a huge price of $5 million.
After retiring from professional cycling in 1994, Greg had a new hobby. He loves driving the four wheels at high speeds.
As a result, he got the USAC-SCCA Formula Ford 2000 Pro Series for Miller Brothers Racing in 1997. Further, he had traded his bikes for the sports car.
Likewise, the Ford was numbered 83 and was yellow like his jersey in the past.
In 2017, Greg was involved in a car crash in the suburbs of Minnesota. But, he didn’t sustain serious injuries.
Gregory LeMond | Lifestyle and Vacations
Gregory Lemond prefers a minimal lifestyle. He loves to live sparely without much attention.
This reason was why he moved from Europe to Minnesota right after his retirement. He felt the attention he got in Belgium was too much for him.
Similarly, health is the biggest priority for an athlete like him. He loves working out consistently and inspires others to do the same.
Likewise, Greg believes in organic growth over strength gained by pills and drugs.
In his book “The Science of Fitness,” he revealed no pill could achieve the results of exercising daily.
Per his interview with “The Roble,” he admitted consuming almost 6000-1000 calories a day. However, after his retirement, he has based his diet on his book.
Despite his retirement from cycling, Greg is still active in major cycling events. He visits them as an interviewer or spectator.
Greg was recently seen climbing the Col D’Izoard. It is a famous pass in the mountain alps of France. Col D’Izoard has been home to key moments in the Tour de France.
Despite his retirement from cycling, Greg is active in major cycling events. He visits them as an interviewer or to enjoy the event. Greg uses these opportunities to relax and getaway.
Recently, Greg posted on Instagram about his visit to Col du Galibier. He spent a warm afternoon hiking the terrain.
Gregory LeMond | Charity
Many might have no idea, but Greg was sexually exploited for several years by his uncle. Then, he saw him jailed for sexually assaulting another child.
Thus, LeMond had decided to help the male victims of child sex abuse. Hence, Greg is a founding board member “of 1in6.org,” a non-profit organization.
It is dedicated to helping male victims who have had abusive experiences. Greg is a front runner in helping these victims live healthier and happier lives.
Accordingly, when Greg settled his lawsuits, they donated $200,000 to the foundation.
Similarly, Greg represented in the Get Back Challenge Cycle in June 2013. He helped raise money for the Limerick Sports Partnership in this event.
Likewise, in 2016, Greg returned to La Crosse for a charity event. “Ride with Greg” was a polio fundraiser featuring riding with Greg LeMond for 30$.
Foundation and Merch
In 2018, Greg agreed to serve on the Velodrome Development Foundation. He joined the Board of Directors as Honorary Chairman. It was a non-profit organization established by the community and athletes.
In 2020, the merchandise was announced to celebrate Greg’s 1989 Tour de France triumph.
US National Team would use the money earned from selling the memoir T-shirt to support the US National team. Additionally, it would help to promote local cycling ideas in Knoxville.
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Gregory LeMond | Movies, Endorsements, Investments, And Book Publications
Movies and Media
In 2014, a documentary was made about Greg LeMond and his pivotal 1986 tour. This documentary was part of the 30 for 30 movie series hosted by ESPN.
LeMond joined Eurosport as a cycling analyst in 2014. Then, he provided commentary at Paris–Roubaix, the Giro d’Italia, and the Tour de France.
Also, he hosted his monthly show on Cycling, which remained with the network until 2017.
During his career, Greg was at the top of the game with multiple Tour De France wins. He seemed to be a strong endorser, which he continued into his post-career as an investor.
During his time at ADR, Greg was sponsored by a beer company named Coors Light for American races. Also, many cycle companies were waiting for his signature.
Hence, Greg has had no trouble securing sponsorship deals. Yet something was different about the way he approached the deals.
He worked with the companies directly rather than a monetary endorsement. Hence, there aren’t many sponsorships. Instead, he would interact and invest in the advanced technology himself.
Carbon Fibers Cycle
Greg won a majority of his Tour De France wins on a Carbon fiber cycle. Hence, in 1990 he founded LeMond bicycles.
The idea was to create devices for him to ride. Also, he wanted to sell these custom bikes to the general public.
But, over time, he realized he needs to venture with expert companies to gain an advantage.
Thus, he signed an exclusive licensing agreement with Carbonframes, Inc. The deal provided access to their advanced technologies.
At first, the whole idea of the Carbonframes-built “Greg LeMond” bicycle was successful.
He shortly led the 1991 Tour de France. Yet, the company ultimately went bankrupt because of poor management by his father.
Consequently, Carbonframes and his company parted ways. It had only been two years since the start of their partnership.
LeMond struck a licensing deal with Trek Bicycle Corporation in 1995. The agreement would allow the company to produce and sell bicycles built by LeMond.
Per NY Daily News, this production process brought Trek over $100 million in sales. As a result, it was renewed several times over 13 years.
Controversies in Investment
In July 2001, LeMond fell out with Trek. He publicly criticized the relationship between Michele Ferrari and Lance Armstrong. But Lance was Trek’s star athlete.
As a result, Trek felt Greg’s public remarks damaged the brand. Then, they pressured Greg to apologize.
Yet, over time the relationship went from bad to worse. Consequently, Trek was sued in March 2008 by LeMond Cycling Inc.
Greg believed Trek hadn’t advertised and distribute the LeMond brand after his remark.
In April 2008, Trek decided to drop their deal with LeMond Bikes. After few years of lawsuits, Greg acquired the LeMond bikes name.
And Trek donated $200,000 to his foundation per settlement.
In September 2013, LeMond revealed that he was partnering with French company Time. He wanted to return to the bicycle production and sales market as soon as possible.
Hence, the new line started with a collection of commemorative-themed bicycles.
The products were a huge success in the early markets. Consequently, Time Sport USA was bought by Greg.
Fitness and Revolution
Everyone knew Greg to be an athlete with the toughest endurance levels. Therefore, LeMond Fitness Inc. was founded in 2002 by Greg and Bernie Boglioli to help other athletes.
The idea for this investment was to help individuals meet their fitness goals. Also, they allowed athletes to practice effectively.
Hoist Fitness bought a stake in this company in 2012. Then, they announced plans to relocate its headquarters to San Diego, California.
Over time Greg saw potential in the stakes he sold. So, he bought the LeMond Revolution from Hoist in late 2012.
Accordingly, Greg relaunched it in Minneapolis with a new management team. Later, he invested in LeMond LLC to launch a line of products.
In late 2012, LeMond purchased the LeMond Revolution from Hoist, relaunching with a new management team in Minneapolis.
Greg was making constant investments at the peak of his career. In 1990, Greg invested in “Scott Kee’s Tour de France,” located on France Avenue.
It was a family-based restaurant which had been his dream for a long time. Further, Greg also invested in several bagel-based bakery cafes.
Greg created LeMond Composites in 2016. He aimed to produce high-volume, low-cost carbon fiber composites.
This business venture was an immense success. Consequently, Greg received funding from the Australian Government of AU of $2.5 million.
They wanted to construct a carbon fiber manufacturing plant in Australia.
Amongst others, “The Science of Fitness” is one such book authored by Greg LeMond and Dr. Mark Hom.
The book is dedicated to portraying the relationship between exercise, nutrition, and physiology. So, it is considered a must-read for both experienced and amateur athletes.
Similarly, “The Comeback: Greg LeMond” is another book written about him. Daniel de Vise authored this book. Accordingly, he tries to give us a vivid account of Greg’s life in a nutshell.
It was originally published in 1998. This book was his reaction to challenges and allegations Greg faced during his career.
Additionally, Greg wrote “Greg LEM Pckt Noncomb” himself. As of right now, there is no synopsis available for this book.
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Gregory LeMond | Career
Greg LeMond began his professional career as an impressive amateur rider. He had quickly made himself one of the top prospects.
Likewise, Greg debuted his first professional start in 1981. The cyclist secured the gold medal in the Road World Championship. He was the first American male cyclist to achieve this.
In 1986, Greg won the Tour de France. Accordingly, he was the first non-European professional cyclist to do it.
However, in 1987 he faced a severe injury, almost ending his career. Greg was mistakenly shot with pellets while hunting. As a result, he missed two tours and had two surgeries.
Greg made his strong comeback in 1989. He won the 1989 Tour de France in the final stage of the circuit. Then, he successfully defended his Tour Title in 1990.
Accordingly, he became one of only seven riders to win three or more Tours.
LeMond retired from competition in December 1994. Additionally, he was inducted into the United States Bicycling Hall of Fame in 1996.
3 Facts about Gregory LeMond
- LeMond raced from 1981 to 1994. He was an American native.
- The 1975 Nevada state cycling championship heavily influenced Greg. This event happened in his hometown.
- Greg was recently diagnosed with ADHD.
Social Media Presence
Did Gregory LeMond and Lance Armstrong fight?
Yes, the duo had a controversy. Greg questioned the use of doping against Lance in the 2000s.