SPAC king Chamath Palihapitiya plans to launch new SPAC despite previous failures

From Yahoo Finance: 2025-06-21 14:12:00

Chamath Palihapitiya, known as the SPAC king, plans to re-enter the special-purpose acquisition company business despite past losses. He received support from Wall Street and crypto “titans” and is likely to launch another SPAC, ignoring previous failures.

Palihapitiya’s SPACs have struggled, with none outperforming the S&P 500 since their launch. Some have seen significant declines, such as Virgin Galactic at -98.50% and Clover Health at -70.90%. Despite these clear risks, Palihapitiya remains undeterred and is considering another SPAC.

Goldman Sachs recently lifted a ban on SPAC involvement, coinciding with Palihapitiya’s renewed interest in the business. This shift in the market landscape may pave the way for Palihapitiya’s return to launching special-purpose acquisition companies.



Read more at Yahoo Finance: ‘The last time wasn’t a success by any means’