Tuesday, November 28, 2023

Virgin Galactic investment pays off big time for Palihapitiya

One of the first big spenders in special-purpose acquisition (SPAC) investment, billionaire Chamath Palihapitiya has sold 6.2 million personal shares of Virgin Galactic for about $211 million. He pledged to parlay the profits into combatting climate change. Palihapitiya’s investment in 2019 helped the space tourism startup founded by Richard Branson speed to a public listing. Palihapitiya and business partner Ian Osborne still own 15.8 million shares via SCH Sponsor Corp.



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