Whalewisdom has at least 13 Form 4 filings The firm has no submitted 13F filings and does not appear to be an investment advisor. Virgin Galactic Holdings Inc., Mr. Branson’s space-tourism company, called off a roughly $1 billion financing deal with Saudi Arabia’s Public Investment Fund in October 2018, after the Saudi government was linked to the disappearance of journalist Jamal Khashoggi. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Palihapitiya Chamath is based out of Palo Alto. Here are 5 more options to reduce tax burden, Easy Trip Planners IPO opens: Grey market premium, other details in 10 points, Karnataka cuts stamp duty on flats to boost property sales, Tata, Mahindra, Ashok Leyland eye BEML stake. Mr. Palihapitiya said. Mr. Palihapitiya’s skills as a hype man, though, are particularly well-suited to the features of SPACs. You’re not going to do that by owning American Express. Amateur traders hang on his every word for clues about his next target—and for the insults he hurls at the high-finance elite. Widely followed SPACs like Pershing Square Tontine Holdings (PSTH) and Social Capital Hedosophia Holdings V (IPOE) staged stunning rebounds Friday after big declines in the morning. The moderators of WallStreetBets later banned its millions of members from posting about SPACs. Chamath Palihapitiya - IPOF / Social Capital Hedosophia Holdings Corp. VI - Insider Trade Report Security: IPOF / Social Capital Hedosophia Holdings Corp. VI : Insider: Chamath Palihapitiya: This page shows the track record and history of Palihapitiya Chamath insider trades in Social Capital Hedosophia Holdings Corp. VI. Follow him on Twitter to keep up with his latest work! After appearing on CNBC to urge the government not to bail out wealthy investors in airlines and other hard-hit companies, he gained about 100,000 new followers on Twitter, according to social-media data company Captiv8 (Social Capital is an investor in Captiv8). Click here to read the Mint ePaperMint is now on Telegram. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Over each of the two days, shares of the SPAC merging with SoFi notched double-digit gains. Mr. Palihapitiya went viral in April 2020, just as he began fundraising for two additional SPACs. It's fair to say that this is an extremely impressive track record. Tweet! He closed his position the next day and donated the proceeds. While they were still married, he traveled with a new woman he was dating, according to people familiar with the matter. Palihapitiya was an early senior executive at Facebook, joining the company in 2007 and leaving in 2011. Social Capital Hedosophia Holdings Corp. VI (NYSE: IPOF) is the sixth special purpose acquisition company (SPAC) from superstar investor Chamath Palihapitiya. That game is over. SoFi, a decade-old startup that made its name refinancing student loans, is his latest prize. The stock was sold at an average price of $35.28, for a total transaction of $109,368,000.00. Mr. Palihapitiya arranged with CNBC extended airtime on the days his deals were announced and went through slides from his investor presentation, according to people familiar with the matter. Chamath Palihapitiya has been labeled the King of SPACs and it could be for good reason. Chamath Palihapitiya has been labeled the King of SPACs and it could be for good reason. Stock Advisor launched in February of 2002. “They are too easily pumped to allow on a subreddit of our size," one wrote at the time. In the world of special purpose acquisition companies, or SPACs, there are no names bigger than Chamath Palihapitiya. Buy! The rant endeared him to amateur investors. Returns as of 03/08/2021. Alex Cruzado watched each of Mr. Palihapitiya’s CNBC clips after seeing his April 2020 rant. IPOF stock is off to a decent start. In December and March, Mr. Palihapitiya sold 10 million shares of Virgin Galactic to free up more than $300 million for other ventures, according to securities filings. Chamath Palihapitiya has his hands full. He's the CEO of Social Capital Hedosophia Holdings, nicknamed IPO 2.0. As is usually the case when predeal SPACs suddenly move sharply, this "blank check" company had just found its acquisition target. Cumulative Growth of a $10,000 Investment in Stock Advisor, Here's Why Chamath Palihapitiya's Fifth SPAC Is Soaring Today @themotleyfool #stocks $IPOE $SPCE $IPOC $OPEN $IPOD $IPOF, Chamath Palihapitiya Just Filed for 7 More SPACs, This Company Could Be a Big Winner of the Recent Short Squeezes, 3 Ways to Decide if a Fintech IPO Is Worth Buying, Chamath Palihapitiya's Fintech SPAC Target Is Soaring Today, Here's Why This Chamath Palihapitiya-Led SPAC Is Skyrocketing on Friday, Copyright, Trademark and Patent Information. CHAMATH Palihapitiya, the billionaire investor who has helped drive the frenzied growth of blank-cheque companies, sold his personal holding in the space-tourism company founded by Richard Branson, raising US$213 million. You are now subscribed to our newsletters. Log in to our website to save your bookmarks. It'll just take a moment. Looks like you have exceeded the limit to bookmark the image. They have helped make Mr. Palihapitiya a fortune—at least on paper. coinspeaker.com | 26m. Mr. Palihapitiya’s now ex-wife was a partner at Social Capital. Recently, Mr. Palihapitiya has been touting a plan to “fix climate change," as he tweeted last month. The 20-year-old university student living in Geneva, Switzerland, bought shares in IPOE on the day of the SoFi announcement and later posted positive reviews of it on WallStreetBets. An icon of the amateur trading masses and an evangelist for SPACs, Chamath Palihapitiya is commanding the financial moment with a blend of deal-making prowess, social-media savvy and moxie. Clover said the report was full of inaccuracies and mischaracterizations. Mr. Palihapitiya found big targets for two of his SPACs last fall, taking house-flipping startup Opendoor Labs Inc. public in a deal worth $6.3 billion and insurance-tech startup Clover Health Investments Corp. to market at a $4.4 billion valuation. Join Mint channel in your Telegram and stay updated with the latest business news. When Robinhood Markets Inc. and other online brokerages restricted trading in hot stocks, enraging investors, Mr. Palihapitiya went on the attack. Three days later, when Mr. Palihapitiya announced his intention to take online lender Social Finance Inc. public via a “blank-check" company, Reddit message boards popular with the day-trading crowd lit up. Virgin Galactic has had to postpone several space flights prompting SPCE stock investors’ lack of confidence. One of famous venture capital investor Chamath Palihapitiya's special-purpose acquisition companies, or SPACs, was soaring on Thursday. During this period Mr. Palihapitiya often frustrated his colleagues with his extended absences from the office and meetings. According to market data provided … The founder of tech-investing firm Social Capital Holdings Inc. has charmed Wall Street to raise billions of dollars to bring startups public. But Mr. Palihapitiya, a former Facebook Inc. executive who now has 1.4 million Twitter followers, belongs to a new class of market influencers—social-media savants who’ve figured out how to take shots at the establishment while taking its money. The craze for SPACs (special purpose acquisition company) has continued unabated in 2021. Chamath Palihapitiya (born September 3, 1976) is a Sri Lankan-Canadian-American venture capitalist, engineer, SPAC sponsor and the founder and CEO of Social Capital. During his Jan. 7 appearance on the business network to elaborate on SoFi’s merits, Mr. Palihapitiya offered his thoughts on how SPACs are helping to reduce wealth inequality by letting ordinary Americans get earlier access to future blue-chip companies. “We’re ready," one follower replied. In case you can’t find any email from our side, please check the spam folder. Those companies are dormant legacy businesses. Their stock prices are higher by 9% and 10%, respectively, as investors aim to get in on the next big IPO announced by the successful SPAC leader. (He indirectly co-owns another 15.75 million shares through an investment vehicle). He still owns … This story has been published from a wire agency feed without modifications to the text. The tweet got more than 3,000 retweets and 17,000 likes, but, since then, Clover shares are down 44%. So far this year, as of Thursday, 225 companies that use money from initial public offerings to buy established businesses have raised roughly $71 billion—a figure that accounts for more than 70% of all public stock sales, according to Dealogic data. As of noon EST, Social Capital Hedosophia Holdings V (NYSE:IPOE) was higher by 30%, and shares had been halted. (Reuters) - Venture investor Chamath Palihapitiya on Saturday confirmed in a tweet that he has freed up some capital by selling shares in Virgin Galactic Holdings Inc, for investing at scale without impacting his pace and strategic view. Your session has expired, please login again. Those absences would occasionally cause him to miss fundraising meetings he had set up for himself and Tony Bates, a former Skype CEO who joined Social Capital to lead a growth-investing unit Mr. Palihapitiya launched in 2017, some of the people said. He allocates a small percentage of the shares in the offerings of his SPACs for that crowd, with an eye toward getting his underwriters to increase their share above 50%, the people said. Retail interest was so strong that Robinhood placed limits on users’ ability to purchase them lest the brokerage have to deposit additional collateral with its clearinghouse to cover the trades. Hindenburg previously exposed irregularities at electric-truck startup Nikola Corp. after it merged with a SPAC. It is illegal for insiders to make trades in their companies based on specific, non-public information. In a response published last month on Medium, Clover’s CEO and president said Hindenburg framed its report around Mr. Palihapitiya “in order to sensationalize what is otherwise a rather underwhelming piece of research." Oops! He is a minority stakeholder and board member of the Golden State Warriors. As many as 70% of the investors in Mr. Palihapitiya’s SPACs are everyday investors, these people said. He suggested they ditch the app and use SoFi, instead. The SEC defines Insiders as officers, directors, or significant investors (greater than … He highlights that he invests hundreds of millions of dollars in private placements accompanying his SPAC deals, a decision that helped sway Opendoor and SoFi to take his offers, according to people familiar with the matter. He has approached potential investors about raising billions of dollars for a partnership with tech giants on climate efforts, people familiar with the matter said. Nearly 65 million shares of Mr. Palihapitiya’s Social Capital Hedosophia Holdings Corp. V changed hands that day, more than all but 22 U.S.-listed stocks, according to Dow Jones Market Data. He and his bankers pitched some of Wall Street’s top firms to participate in the deal, and Mr. Palihapitiya’s pull with stalwarts like money manager BlackRock Inc. was a big reason why the lender spurned other SPAC suitors and accepted Mr. Palihapitiya’s offer, according to people familiar with the matter. … Because such deals are structured as mergers, SPAC sponsors don’t have to worry about restrictions on talking openly about a business before its shares start trading. Nonetheless, Social Capital was able to earn an annualized internal rate of return of 33% in its first eight years, it said in its most recent annual letter. Chamath Palihapitiya is listed as an insider in the following companies: OPEN / Opendoor Technologies Inc CLOV / Clover Health Investments, Corp. Class A WORK / Slack Technologies, Inc. SPCE / Virgin Galactic Holdings, Inc. Mr Palihapitiya disposed of 6.2 million shares at an average price of US$34.32 this week, based on a filing with the US Securities and Exchange Commission. Mr. Palihapitiya is separately looking to start a new family of SPACs for biotech companies, some of the people said. Virgin Galactic Holdings Inc (NYSE: SPCE) stock extended yesterday’s dip during Friday’s premarket and is still down after the market opened. Remove some to bookmark this image. “How do you do that? Virgin Galactic Holdings, Inc. (NYSE:SPCE) Director Chamath Palihapitiya sold 3,100,000 shares of the firm’s stock in a transaction on Tuesday, March 2nd. YouTube and Amazon.com Inc.’s Twitch have also approached him about moving his deal announcements to their live-video streaming services, some of the people said. Robinhood executives were “corporatist scumbags" who “should go to jail," he said on his podcast, “All-In.". Founder of 10 different companies, among them: Social Capital Hedosophia Holdings Corp. III, Social Capital Hedosophia Holdings Corp. VI and Social Capital Hedosophia Holdings Corp. II, Chamath Palihapitiya is an entrepreneur and businessperson who has been at the head of 12 different companies and is Chairman at Ezetap Mobile Solutions Pvt Ltd., Chairman for LotusFlare, Inc., Chairman & Chief … In the world of special purpose acquisition companies, or SPACs, there are no names bigger than Chamath Palihapitiya. One of famous venture capital investor Chamath Palihapitiya's special-purpose acquisition companies, or SPACs, was soaring on Thursday. Social Capital Hedosophia Holdings Corp IV: The additional team member for IPOD is Nirav Tolia. Sell! He served as Board Member at Glooko.He serves as Board Member at Ezetap. Social Capital Hedosophia announced that it would use this $800 million SPAC to merge with fintech start-up SoFi, whose IPO has been rumored for some time. When Social Capital decided to transition away from a traditional venture-capital firm in 2018 to be more of a holding company for startups, many employees learned they would be losing their jobs from a Medium post Mr. Palihapitiya published, a person familiar with the matter said. Mr. Palihapitiya got his big break as a SPAC investor from billionaire Richard Branson. These outfits are known as “blank-check" firms or SPACs, an acronym that stands for special-purpose acquisition companies. On Jan. 28 and 29, he told his Twitter followers that he turned Robinhood down when the startup was raising money years ago—and that Robinhood was misleadingly monetizing user data. “Through all the pain watching all of our portfolios go up in flames the past few weeks, this motherf—er came in and spoke for all us and really put a smile on my face," one trader wrote in a post on Reddit’s WallStreetBets that was upvoted about 2,000 times. Mr. Palihapitiya raised money for his first SPAC, Social Capital Hedosophia Holdings Corp., in 2017. No one has marshaled the twin forces reshaping markets—the blank-check boom and the retail-trading surge—quite like Mr. Palihapitiya. One fan called it a “stock that you buy with hopes of transforming you into a millionaire"—even though SoFi did not expect to be profitable until 2023 and faced stiff competition. Many other projects, including a credit-investing fund, fell by the wayside. Social Capital raised $3.7 billion for five SPACs last year and filed confidentially to raise money for seven more, according to people familiar with the matter. People who know and have worked with Mr. Palihapitiya describe him as a great salesman but a poor manager. “This is some insane, crazy, baller shit: r/wsb just ran over one of the most successful hedge funds around," Mr. Palihapitiya tweeted, linking to a Wall Street Journal article about hedge fund Melvin Capital Management’s emergency cash infusion.