African-American Tech Tycoon Alex Karp’s Fortune Skyrockets by $300 Million in Just 3 Weeks

African-American software entrepreneur Alex Karp has seen his net worth skyrocket by $300 million in just three weeks. This spike is linked to the exceptional performance of his shareholding in Palantir Technologies, a big data analytics company.

Karp’s net worth has increased from $2.5 billion on Feb. 21 to $2.8 billion at the time of writing, making him one of the world’s Black billionaires.

Karp’s current fortune boom, averaging a daily gain of $14.3 million since February 21, is directly tied to the performance of his 2.63 percent share in Palantir Technologies, which he co-founded in 2003 with Peter Thiel, Nathan Gettings, Joe Lonsdale, and Stephen Cohen.

Palantir shares on the Nasdaq Stock Exchange have increased by 8.62 percent in the last three weeks, rising from $22.74 on February 21 to $24.70 at the time of publication. This surge has increased the group’s market capitalization above $54 billion.

As a result of the recent jump in the company’s shares, the market value of the notable business leader and computer entrepreneur’s ownership has increased by $115 million in the last three weeks, rising from $1.32 billion on Feb. 21 to $1.44 billion at the time of writing.

With a recent increase of roughly 8.62 percent in his Palantir stock, Karp has cemented his place among the world’s Black billionaires.Forbes currently rates him at 1,165th among the world’s wealthiest persons, up from 1,264th on Feb. 21.

Karp’s position among Black billionaires demonstrates the achievement of African-American entrepreneurs in the technology sector. With Palantir’s sustained success, Karp’s wealth appears to be on the rise, cementing his status as one of the world’s wealthiest Black people.

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