Palantir CEO Alex Karp earned compensation worth about $1.1 billion in 2020, primarily through equity awards granted shortly before his software company went public.
More here.
This company is losing $100 million a month and has never turned a profit in 18 years of existence. I know, I know, Amazon. But Amazon and Google turned a profit in 3-7 years. In my work investing in early stage tech startups, I routinely see even young companies that have reached the breakeven point. Why can’t Palantir?
Palantir is losing $100 million a month and has never turned a profit in 18 years of existence. #palantir #stocks
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It’s no wonder that the CEO is able to pay himself so well. He and a couple other co-founders control the voting shares in the company even if they sell their shares. The votes each of their shares has rises whenever they sell, so they maintain control. This arrangement is so controversial they’re actually being sued for it as we speak.
Palantir reminds me a lot of WeWork. Charismatic founder, heavily hyped tech company, nonexistent earnings, ironclad founder control, and excessive CEO pay. And we know how that turned out.
Indeed, Karp seems to be cashing in as fast as he can while things are good:
At the time of the New York Stock Exchange listing, Karp owned about $1 billion worth of Palantir stock. He’s since sold about $350 million worth at share prices ranging from $9.10 to $31.59, according to SEC filings.
Dig into these posts for more on Palantir:
- Palantir Is Losing $100 Million a Month With No End in Sight
- Palantir Sued Over Controversial Founder Privileges
- Palantir Is Growing at a Snail’s Pace
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