{"id":51343,"date":"2021-11-22T11:31:52","date_gmt":"2021-11-22T11:31:52","guid":{"rendered":"https:\/\/timestampmag.com\/?p=51343"},"modified":"2021-11-29T11:41:51","modified_gmt":"2021-11-29T11:41:51","slug":"chamath-palihapitiya-sold-his-15-stake-in-sofi","status":"publish","type":"post","link":"https:\/\/timestampmag.com\/2021\/11\/22\/chamath-palihapitiya-sold-his-15-stake-in-sofi\/","title":{"rendered":"Chamath Palihapitiya Sold his 15% Stake in SoFi"},"content":{"rendered":"<ul>\n<li>Chamath Palihapitiya, the former Facebook senior executive, sold 15% of his stake in SoFi Technology.<\/li>\n<li>The company\u2019s net worth skyrocketed from $8.6 billion to $17.04 billion this year.<\/li>\n<li>SoFi\u2019s share prices fell by 2% shortly after Chamath\u2019s Twitter announcement.<\/li>\n<\/ul>\n<p>Billionaire Chamath Palihapitiya sells 15% of the total stocks of his finance company SoFi, an American online personal finance company that deals with student loans, personal loans, home loans, etc.<\/p>\n<p>Chamath Palihapitiya is a Sri Lankan-Canadian venture capitalist, engineer, SPAC sponsor, CEO &amp; Founder of Social Capital. In the years between 2007 and 2011, Palihapitiya worked for Facebook as a senior executive.<\/p>\n<p>He has a <a href=\"https:\/\/wealthygorilla.com\/chamath-palihapitiya-net-worth\/\" target=\"_blank\" rel=\"noopener\">net worth of $1 Billion<\/a>, which makes him one of the youngest billionaires. The fact that he holds this position is only a testament to his tendency to venture into businesses where he foresees abundant monetary growth. Recently, he has been backing projects on multiple platforms like Solana.<\/p>\n<p>Earlier this year, <a href=\"https:\/\/techcrunch.com\/2021\/01\/07\/sofi-nears-deal-to-go-public-in-merger-with-chamath-palihapitiyas-newest-spac\/\" target=\"_blank\" rel=\"noopener\">SoFi went public<\/a> after associating with a blank-check company led by Palihapitiya. The value of the company jumped from $8.65 billion to $17.04 billion.<\/p>\n<p>Palihapitiya, who most people know due to this career in Facebook, confirmed this news via Twitter.<\/p>\n<h2>Concerns Over High Inflation<\/h2>\n<p>Palihapitiya raised subtle concern over the all-time <a href=\"https:\/\/www.forbes.com\/advisor\/investing\/why-is-inflation-rising-right-now\/\" target=\"_blank\" rel=\"noopener\">high inflation<\/a> in the US market. He wrote, \u201cMany of us are trying to make sense of what\u2019s happening in the markets these days. Here are some observations and moves we\u2019ve recently made to continue our work.\u201d He went on to talk about how Equity markets, <a href=\"https:\/\/timestampmag.com\/2020\/03\/01\/whats-the-crypto-in-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\">crypto<\/a> markets, art valuations, and SaaS are at their highest at the moment.<\/p>\n<figure id=\"attachment_51345\" aria-describedby=\"caption-attachment-51345\" style=\"width: 673px\" class=\"wp-caption alignnone\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-51345\" src=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2021\/11\/twitter.png\" alt=\"\" width=\"673\" height=\"639\" srcset=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2021\/11\/twitter.png 673w, https:\/\/timestampmag.com\/wp-content\/uploads\/2021\/11\/twitter-300x285.png 300w\" sizes=\"(max-width: 673px) 100vw, 673px\" \/><figcaption id=\"caption-attachment-51345\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/twitter.com\/chamath\/status\/1461453308623659010?s=20\" target=\"_blank\" rel=\"noopener\">twitter.com<\/a><\/figcaption><\/figure>\n<p>Palihapitiya admits that the reason behind selling his 15% shares to SoFi is to fund other technologies in business that will shape the future. However, shortly after his announcement, the SoFi share prices fell by 2%.<\/p>\n<p>Although he did not give a number, Palihapitiya also hinted that he would increase social capital\u2019s investment in medicare provider clover health.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chamath Palihapitiya, the former Facebook senior executive, sold 15% of his stake in SoFi Technology. The company\u2019s net worth skyrocketed from $8.6 billion to $17.04 billion this year. SoFi\u2019s share prices fell by 2% shortly after Chamath\u2019s Twitter announcement. Billionaire Chamath Palihapitiya sells 15% of the total stocks of his finance company SoFi, an American [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":51344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[787,370,137,183,790,789,788],"_links":{"self":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/51343"}],"collection":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/comments?post=51343"}],"version-history":[{"count":1,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/51343\/revisions"}],"predecessor-version":[{"id":51346,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/51343\/revisions\/51346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/media\/51344"}],"wp:attachment":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/media?parent=51343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/categories?post=51343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/tags?post=51343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}