David Solomon of Goldman Sachs
Andrew Harrer | Bloomberg | Getty Images
Goldman Sachs’ millionaire clients are teed up to be among the biggest winners in Uber’s initial public offering this week.
About four years ago, the bank’s private-wealth customers were offered what are known as convertible bonds. In this case, the Uber corporate bonds turn into discounted stock when the ride-hailing company goes public, according to a person familiar with the fundraising.
Uber raked in $1.6 billion in those debt sales to Goldman’s clients, who will now get a 40% discount on Uber stock as it debuts on the New York Stock Exchange, the person told CNBC. The Wall Street Journal first reported the news and…