New research from Columbia Business School professor Len Sherman finds that Uber's U.S. take rate has climbed above 50%, meaning drivers now keep less than half of what riders pay. The study, based on trip data from three veteran drivers in Texas and Florida, shows driver earnings per mile decoupled from rider fares after Uber's 2019 IPO and especially following its 2022 upfront pricing and 2023 profitability push. Uber disputes the findings, citing a global take rate after insurance and third-party costs of 21% in Q3 2025 and median U.S. driver earnings above $30 per utilized hour with tips. Sherman's report also highlights wide fluctuations in commercial insurance costs charged to drivers and notes that Uber's self-insurance reserves grew from $6.7 billion in 2023 to $12.5 billion in 2025.
Uber Technologies IncResearch shows Uber's take rate has risen above 50%, reducing driver pay share, which could pressure driver supply and regulatory scrutiny.
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