'Daddy's Home' – Palantir Creates Two New Billionaires After Trump's Win. Both Own Less Than 2% Stock And Are Thiel's Favorites

Donald Trump is back and so is the boom for Palantir PLTR – and a couple of its early founders are reaping the benefits. Joe Lonsdale and Stephen Cohen, Peter Thiel’s close associates, joined the billionaire club thanks to a massive rise in Palantir’s stock value following Trump's reelection. They own only a small slice of the company – less than 2% each – but it’s more than enough to make them new billionaires.

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Palantir, the secretive software company known for its work with government agencies, has seen its stock price shoot up more than 270% this year, partly because of Trump's victory and the expectation of increased defense spending. With deep ties to government contracts and projects that align well with Trump's priorities, investors seem to be betting big on Palantir's future.

Joe Lonsdale, who left Palantir in 2009, still holds about a 1% stake in the company, which Forbes estimates is worth roughly $1 billion. Lonsdale, who's been vocal about his support for Trump's reelection, called this moment “morning again in America” and tweeted, “Daddy’s Home.” Through his venture firm 8VC, he's invested in other defense and software companies, solidifying his role as a key figure.

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Stephen Cohen, who's still president of Palantir, owns about 1.5% of the company's shares. He and Lonsdale worked closely with Peter Thiel, Palantir's better-known cofounder and were part of Thiel's inner circle during the company’s early days. Both men – in their early forties – now have significant fortunes due to their involvement in the company, all thanks to their early involvement and the recent surge in its value.

Palantir's recent stock jump hasn't just benefited Lonsdale and Cohen. The two other cofounders, Peter Thiel and Alex Karp, have been billionaires for quite some time now. The company's valuation reached a staggering $150 billion last week, fueled by increased revenues and strong government contracts, including a new $99.8 million deal that pushed its quarterly earnings to an all-time high. The fact that Palantir’s most recent earnings report outperformed analyst estimates has only raised the excitement.

However, the business has its detractors, as some analysts question Palantir’s exorbitant price. With its market cap now higher than many of its peers in the tech sector and at 55 times its annual revenues, CEO Alex Karp and cofounder Thiel, who have been selling chunks of their stock since Trump's win, haven't exactly calmed these fears. Still, Palantir's unique role as a government contractor and a commercial AI leader keeps it in the spotlight.

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