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Uber drivers may each get up to R570,000 tomorrow as the company celebrates its Wall Street listing

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Uber drivers may each get up to R570,000 tomorrow as the company celebrates its Wall Street listing | BISouthAfrica

that it would pay around $300 million to its more than 1.1 million drivers worldwide. It expects to make the payments on or around April 27.

"To acknowledge drivers who have participated in our success, we are paying a one-time cash driver appreciation reward to qualifying drivers in jurisdictions where we operate through owned operations," Uber said in the filing. Uber South Africa said in a statement: We have no announcement for SA at this stage. will be communicated at a later stage."In the US, drivers will receive one of six different cash rewards based on the number of Uber trips they've completed. Drivers are in line to earn $100 for making at least 2,500 trips, $500 for at least 5,000 trips, $1,000 for at least 10,000 trips, and $20,000 for at least 20,000 trips.

Uber is also giving its drivers a chance to buy its stock before the general public. It has reserved 5.4 million shares for drivers through a directed share program. Drivers who qualify for the driver-appreciation reward will be able to buy those shares at the IPO price, which Uber expects to be between $44 and $50 a share.Also from Business Insider South Africa:

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BISouthAfrica Enjoy now because the shit storm is about to begin.

BISouthAfrica 🙆🏽‍♀️🙆🏽‍♀️🙆🏽‍♀️

BISouthAfrica This would be wonderful if it's true. Hard working honest good drivers. Uber has taken so many drunk drivers off the roads and delivered them home safely

BISouthAfrica Can I be an Uber driver before midnight?

BISouthAfrica And tomorrow the taxi drivers will also ask their piece of the pie. As if uber drivers in SA dont have enough pressure.

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BUSINESS MAVERICK: Devil’s in the detail as government toys with regulating AirbnbEchoing calls to regulate ride-share platform Uber in South Africa, which has disrupted the taxi industry worldwide, has spilt over into the local tourism industry players, which have called for Airbnb to be regulated. The Department of Tourism has heard the cries, but not everybody is happy with the proposals.
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