Alex Karp, an African-American tech billionaire, has seen his net worth increase by $600 million in the last nine days alone. This spike is linked to the exceptional performance of his shareholding in the big data analytics company, Palantir Technologies.
Karp’s net worth has increased from $1.9 billion on Feb. 1 to $2.5 billion at the time of writing, making him one of the world’s Black billionaires.
The latest boost in his fortune, equivalent to an average daily gain of $66.7 million since February 1, is tied to the performance of his 2.63 percent investment in Palantir Technologies, which he co-founded in 2003 with Peter Thiel, Nathan Gettings, Joe Lonsdale, and Stephen Cohen.
Palantir’s Nasdaq Stock Exchange shares have increased by 49.30% in the last nine days, from $16.33 on Feb. 1 to $24.38 at the time of writing. This brings the group’s market capitalization above $53 billion.
As a result of the recent jump in the company’s shares, the market value of the interest held by the leading business leader and digital entrepreneur has increased by $460 million in the last nine days, rising from $934 million on February 1 to $1.4 billion at the time of writing.
Karp’s recent roughly 50% increase in his share in Palantir has secured his place as one of the world’s Black billionaires.According to Forbes, he now ranks 1,264th among the world’s wealthiest persons, up from 1,606th on February 1.
Karp’s ranking among Black billionaires demonstrates the achievement of African-American entrepreneurs in the technology sector. With Palantir’s sustained success, Karp’s fortune is set to rise, cementing his place among the world’s wealthiest Black people.