Japanese company SoftBank reached an arrangement with Uber, according to the report, making them Uber’s largest investor and valuing the ride hailing company at $48 billion.
"We're proud to have SoftBank, Dragoneer and the entire consortium in the Uber family. This is a great outcome for our shareholders, employees and customers," a spokesperson for Uber said in a statement reported by CNBC.
Bloomberg estimates that Kalanick, a co-founder of the transportation company, is worth $4.74 billion.
The agreement comes after a rocky 2017 for Uber. Kalanick was forced out of the company last year amid accusations of a culture rife with sexual harassment. The company was also the target of a massive data breach late last year.
SoftBank reached the multibillion-dollar deal with Uber at the end of 2017.