He was dubbed the SPAC king, for the voluminous deals the high-profile media personality brought to market. Chamath Palihapitiya did quite well, personally — roughly doubling the $750 million he put in, according to New York Times calculations. And his seed money, for Virgin Galactic and Clover Health, was in part borrowed from the fallen Credit Suisse, the Financial Times reported, citing public filings.
Investors in his SPACs did not do so well, MarketWatch reports.
None of this is new, but during a discussion of his performance, the SPAC king reportedly told investors to “stop being a victim” and saying, “I’m in the arena trying stuff.” Read more.
