African-American tech billionaire Alex Karp’s wealth surges $300 million in 3 weeks

African-American tech billionaire Alex Karp has experienced a substantial increase in his wealth, with his net worth soaring by $300 million in just three weeks. This surge is attributed to the strong performance of his stake in the big data analytics company Palantir Technologies.

According to data tracked by the U.S. business magazine Forbes, Karp’s net worth, which was valued at $2.5 billion on Feb. 21, has swiftly climbed to an impressive $2.8 billion at the time of drafting this report — further cementing his position among the world’s Black billionaires.

Palantir’s market cap surpasses $54 billion: Karp’s fortunes surge amid recent market rally

The recent surge in his fortune, averaging a daily gain of $14.3 million since Feb. 21, is directly linked to the performance of his 2.63 percent stake in Palantir Technologies — Karp co-founded the company in 2003 alongside Peter Thiel, Nathan Gettings, Joe Lonsdale, and Stephen Cohen.

Shares of Palantir on the Nasdaq Stock Exchange have experienced a modest increase of 8.62 percent over the past three weeks, climbing from $22.74 on Feb. 21 to $24.70 at the time of this report. This surge has pushed the group’s market capitalization above the $54-billion mark.

Palantir’s rally elevates CEO Alex Karp to Forbes’ top 1,200 wealthiest worldwide

As a result of the recent surge in the company’s shares, the market value of the stake owned by the prominent business executive and tech entrepreneur has soared by $115 million over the past three weeks, escalating from $1.32 billion on Feb. 21 to $1.44 billion at the time of writing.

With the recent spike of nearly 8.62 percent in his Palantir stake, Karp has further solidified his position among the world’s Black billionaires. Forbes now ranks him at 1,165th on the list of the world’s wealthiest individuals — a significant jump from 1,264th on Feb. 21.

Karp’s position among Black billionaires underscores the success of African-American entrepreneurs within the tech sector. With Palantir’s continued prosperity, Karp’s wealth appears poised for further growth, solidifying his stature among the world’s richest Black individuals.