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African-American tech billionaire Alex Karp has seen his net worth surge by $200 million in the past 20 days, fueled by the recent surge in the market value of his stake in Palantir Technologies, a Colorado-based big data analytics company.
According to data tracked by the U.S. business magazine Forbes, Karp’s net worth jumped from $2.6 billion on April 17 to $2.8 billion at the time of drafting this report — this follows a brief dip of $100 million recorded between April 1 and 17.
The recent boost in his fortune, averaging a daily gain of $10 million since April 17, is directly linked to the performance of Karp’s 2.63 percent stake in Palantir Technologies — the company he co-founded in 2003 with Peter Thiel, Nathan Gettings, Joe Lonsdale, and Stephen Cohen.
Palantir stock up, market cap back above $50 billion
Palantir’s share price on the Nasdaq Stock Exchange has surged 18.30 percent over the past 20 days, climbing from $21.31 on April 17 to $25.31 at the time of this report. This surge has propelled the group’s market capitalization above the $50-billion mark.
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 $226 million over the past 20 days, rising from $1.24 billion on April 17 to $1.47 billion at the time of writing.
Karp surges on Forbes list as Palantir soars
With the surge in Palantir shares and the recent boost in his net worth, Alex Karp has reinforced his standing among the world’s Black billionaires. Forbes now ranks him at 1,196th on the list of the world’s wealthiest individuals — a significant jump from 1,291st on April 17.
Karp’s ascent underscores the growing success of African-American entrepreneurs in the tech sector. With Palantir’s momentum persisting, Karp’s wealth is likely to continue its upward trend, further solidifying his place among the world’s richest Black individuals.
