4.6 • 12 Ratings
🗓️ 21 November 2024
⏱️ 5 minutes
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Trump’s win has been good for Palantir shareholders. Especially these two.
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0:00.0 | Here's your Forbes Daily Briefing for Thursday, November 21st. Today on Forbes, Tech Darling Palantir |
0:08.7 | mints two more billionaires in post-election surge. Palantir co-founder and venture capitalist |
0:16.3 | Joe Lonsdale saw Donald Trump's re-election as president earlier this month as a win for the United |
0:22.5 | States. Lonsdale, who helped Elon Musk raise money for Trump through the America pack, wrote |
0:29.0 | on X on November 5th, quote, it's morning again in America. In another post on X, he wrote, |
0:35.8 | quote, Daddy's Home. |
0:40.8 | It's also a win for Lansdale. |
0:47.2 | Although he hasn't worked at Palantir since 2009, Forbes estimates that he still owns a stake in the company, |
0:54.2 | which he recently called part of a, quote, new prime of defense companies that are excited about a second Trump presidency. |
1:00.4 | Thanks to a combination of growth and fervor, Palantir's share price has shot up more than 50% since election night. That jump coincided with Palantir's strong quarterly earnings report, |
1:07.3 | in which it reported a 40% increase in revenue from U.S. government customers, and a new government |
1:12.6 | contract drove the company's quarterly revenue to an all-time high of $726 million. |
1:20.2 | Palantir's stock price surge has made Lonsdale and his co-founder, Stephen Cohen, both 42 years old, |
1:26.5 | new billionaires. Per Forbes estimates, Lonsdale is worth |
1:30.4 | $1.6 billion and Cohen, $2.3 billion. Aside from Lonsdale's estimated 1% stake in Palantir, |
1:38.9 | worth about $1 billion, he has investments in software and defense companies through his venture |
1:44.1 | firm, 8VC, |
1:46.1 | plus cash from selling shares in February of several companies 8VC has backed, including |
1:51.3 | OpenGov, which he also co-founded. |
1:54.7 | Cohen's billions, meanwhile, come from his 1.5% stake in Palantir, plus an estimated $175 million from selling stock over the past |
2:04.1 | four years. Neither responded to requests for comment from Forbes. |
2:08.9 | Last month, Lonsdale answered a question on the podcast Big Deal about whether billionaires |
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