Chamath Palihapitiya
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Chamath Palihapitiya (born 3 September 1976) is a Sri Lankan-born
Canadian-American Canadian Americans () are Citizenship of the United States, American citizens or in some uses residents whose ancestry is wholly or partly Canadians, Canadian, or citizens of either country who hold dual citizenship. Today, many Canadian American ...
venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...
ist and
entrepreneur Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entreprene ...
. He is the founder and
chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...
(CEO) of
Social Capital Social capital is a concept used in sociology and economics to define networks of relationships which are productive towards advancing the goals of individuals and groups. It involves the effective functioning of social groups through interper ...
, and previously served as an early senior executive at
Facebook Facebook is a social media and social networking service owned by the American technology conglomerate Meta Platforms, Meta. Created in 2004 by Mark Zuckerberg with four other Harvard College students and roommates, Eduardo Saverin, Andre ...
from 2007 to 2011. Palihapitiya is known for his venture capital investments, work with
Special-purpose acquisition companies The Special Purpose was a jazz/funk fusion band from Seattle, Washington. Formed in the summer of 2004, the group - consisting of John Fawcett (drums), Stephen Fogg (8-string guitar), Christopher Stefanile (guitar) and Tim Symons (keyboards)-- b ...
(SPACs), his minority ownership in the
Golden State Warriors The Golden State Warriors are an American professional basketball team based in San Francisco. The Warriors compete in the National Basketball Association (NBA) as a member of the Pacific Division of the Western Conference. Founded in 1946 i ...
, and as a co-host of the business and technology podcast '' All-In''.


Early life and education

Born in
Sri Lanka Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, also known historically as Ceylon, is an island country in South Asia. It lies in the Indian Ocean, southwest of the Bay of Bengal, separated from the Indian subcontinent, ...
to a family from
Galle Galle (, ; , ) (formerly ) is a major city on the southwestern tip of Sri Lanka, south of Colombo. Galle is the provincial capital and largest city of Southern Province, Sri Lanka and is the capital of Galle District. Galle was known as ''Gi ...
, Palihapitiya moved to
Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...
at age five when his father was posted to the High Commission of Sri Lanka in Ottawa. In 1986, when his father's diplomatic posting came to an end, the family sought asylum in Canada due to his father's criticism of violence against
Tamils The Tamils ( ), also known by their endonym Tamilar, are a Dravidian peoples, Dravidian ethnic group who natively speak the Tamil language and trace their ancestry mainly to the southern part of the Indian subcontinent. The Tamil language is o ...
during the Sri Lankan Civil War. Growing up in difficult economic circumstances, Palihapitiya's father struggled with
alcoholism Alcoholism is the continued drinking of alcohol despite it causing problems. Some definitions require evidence of dependence and withdrawal. Problematic use of alcohol has been mentioned in the earliest historical records. The World He ...
and unemployment while his mother worked
housekeeping Housekeeping is the management and routine support activities of running and maintaining an organized physical institution occupied or used by people, like a house, ship, hospital or factory, such as cleaning, tidying/organizing, cooking, shopp ...
jobs. At age 14, Palihapitiya began working at
Burger King Burger King Corporation (BK, stylized in all caps) is an American multinational chain store, chain of hamburger fast food restaurants. Headquartered in Miami-Dade County, Florida, the company was founded in 1953 as Insta-Burger King, a Jacks ...
to support his family. He attended
Lisgar Collegiate Institute Lisgar Collegiate Institute is an Ottawa-Carleton District School Board secondary school in Ottawa, Ontario, Canada. The school is located in downtown Ottawa by the Rideau Canal. History In 1843, a grammar school with 40 paying students was ...
and later graduated from the
University of Waterloo The University of Waterloo (UWaterloo, UW, or Waterloo) is a Public university, public research university located in Waterloo, Ontario, Canada. The main campus is on of land adjacent to uptown Waterloo and Waterloo Park. The university also op ...
in 1999 with a degree in
electrical engineering Electrical engineering is an engineering discipline concerned with the study, design, and application of equipment, devices, and systems that use electricity, electronics, and electromagnetism. It emerged as an identifiable occupation in the l ...
.


Career


1999–2007: Early career

After graduation, Palihapitiya worked as a derivatives trader at
BMO Nesbitt Burns The Bank of Montreal (, ), abbreviated as BMO (pronounced ), is a Canadian multinational investment bank and financial services company. The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank, making it Canada's oldest bank. In 2 ...
before joining
Winamp Winamp is a media player (software), media player for Microsoft Windows originally developed by Justin Frankel and Dmitry Boldyrev by their company Nullsoft, which they later sold to AOL in 1999 for $80 million. It was then acquired by Rad ...
in
California California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an ...
. Following AOL's acquisition of
Winamp Winamp is a media player (software), media player for Microsoft Windows originally developed by Justin Frankel and Dmitry Boldyrev by their company Nullsoft, which they later sold to AOL in 1999 for $80 million. It was then acquired by Rad ...
, he became AOL's youngest vice president, heading its instant messaging division in 2004. He briefly worked at
Mayfield Fund Mayfield, also known as Mayfield Fund, is a US-based venture capital firm that focuses on early-stage to growth-stage investments in enterprise and consumer technology companies. Founded in 1969 and based in Menlo Park, California. History The ...
before joining
Facebook Facebook is a social media and social networking service owned by the American technology conglomerate Meta Platforms, Meta. Created in 2004 by Mark Zuckerberg with four other Harvard College students and roommates, Eduardo Saverin, Andre ...
in 2007.


2007–2011: Facebook

At Facebook, Palihapitiya led the release of Facebook Beacon, an advertising system which failed and became the subject of lawsuits. Palihapitiya next focused on new user growth; after four years, Facebook had 1 billion users. Before leaving Facebook, Palihapitiya led the Facebook Phone and Facebook Home projects.
Steven Levy Steven Levy (born 1951) is an American journalist and editor at large for '' Wired'' who has written extensively for publications on computers, technology, cryptography, the internet, cybersecurity, and privacy. He is the author of the 1984 boo ...
wrote in ''Facebook: The Inside Story'' that Palihapitiya was regarded as a "bully" at Facebook, and that his subordinates often cried as a result of his bullying.


2011–present: Social Capital

After leaving Facebook, Palihapitiya founded
Social Capital Social capital is a concept used in sociology and economics to define networks of relationships which are productive towards advancing the goals of individuals and groups. It involves the effective functioning of social groups through interper ...
, with his then-wife. The firm initially operated as a traditional
venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...
fund, investing in companies including
Yammer Viva Engage (formerly Yammer) is an enterprise social networking service that is part of the Microsoft 365 family of products. It is used mainly for private enterprise social software, communication within organizations but is also used for net ...
(acquired by
Microsoft Microsoft Corporation is an American multinational corporation and technology company, technology conglomerate headquartered in Redmond, Washington. Founded in 1975, the company became influential in the History of personal computers#The ear ...
for $1.2B),
SecondMarket Nasdaq Private Market (NPM) provides a secondary market trading venue for issuers, brokers, shareholders, and prospective investors of private company stock. Since inception, NPM has facilitated more than $40 billion in transactional volume and h ...
, Slack (acquired by
Salesforce Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides applications focused on sales, customer service, marketing automation, e-commerce, analytics, artificial intelligence, and ap ...
for $27B), Swarm (acquired by
SpaceX Space Exploration Technologies Corp., commonly referred to as SpaceX, is an America, American space technology company headquartered at the SpaceX Starbase, Starbase development site in Starbase, Texas. Since its founding in 2002, the compa ...
), Groq, and
Box A box (plural: boxes) is a container with rigid sides used for the storage or transportation of its contents. Most boxes have flat, parallel, rectangular sides (typically rectangular prisms). Boxes can be very small (like a matchbox) or v ...
. By 2015, the fund managed over $1.1 billion in assets. In 2018, Social Capital underwent significant changes, transitioning from a multi-LP venture capital fund to a family office structure. Since then, Social Capital has made investments in three areas: climate science, life sciences, and biotechnology, and the decentralization of the digital economy through platforms such as
blockchain The blockchain is a distributed ledger with growing lists of Record (computer science), records (''blocks'') that are securely linked together via Cryptographic hash function, cryptographic hashes. Each block contains a cryptographic hash of th ...
,
crypto Crypto commonly refers to: * Cryptography, the practice and study of hiding information * Cryptocurrency, a type of digital currency based on cryptography Crypto or krypto may also refer to: Cryptography * Cryptanalysis, the study of methods f ...
, and
digital assets A digital asset is anything that exists only in digital form and comes with a distinct usage right or distinct permission for use. Data that do not possess those rights are not considered assets. ''Digital assets'' include, but are not limited t ...
. Palihapitiya manages from a balance sheet of permanent capital. Palihapitiya has become a prominent figure in the special purpose acquisition company (SPAC) movement. Notable deals include taking
Virgin Galactic Virgin Galactic Holdings, Inc. is a British-American spaceflight company founded by Richard Branson and the Virgin Group conglomerate, which retains an 11.9% stake through Virgin Investments Limited. It is headquartered in California, and opera ...
public in 2019, Opendoor in 2020, and later
SoFi SoFi Technologies, Inc. (abbreviated as SoFi) is an American personal finance and financial technology company. Founded in 2011 at Stanford University, it operates as a direct bank and provides its technology platform to other financial institu ...
and Clover Health.


Political positions and activities

While historically a Democratic Party donor, contributing approximately $1.3 million over a decade, he has recently shifted toward Republican support. In 2011, Palihapitiya donated $7,500 to U.S. Senate candidate
Ted Cruz Rafael Edward Cruz (; born December 22, 1970) is an American politician and attorney serving as the junior United States senator from Texas since 2013. A member of the Republican Party, Cruz was the solicitor general of Texas from 2003 ...
. In March 2020, Palihapitiya told ''
The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...
'' that he would like to see
Michael Bloomberg Michael Rubens Bloomberg (born February 14, 1942) is an American businessman and politician. He is the majority owner and co-founder of Bloomberg L.P., and was its CEO from 1981 to 2001 and again from 2014 to 2023. He served as the 108th mayo ...
at the top of the Democratic ticket in the 2020 Democratic Party presidential primaries, paired with
Amy Klobuchar Amy Jean Klobuchar ( ; born May 25, 1960) is an American politician and lawyer serving as the Seniority in the United States Senate, senior United States Senate, United States senator from Minnesota, a seat she has held since 2007. A member o ...
or
Elizabeth Warren Elizabeth Ann Warren (née Herring; born June 22, 1949) is an American politician and former law professor who is the Seniority in the United States Senate, senior United States senator from the state of Massachusetts, serving since 2013. A mem ...
. In 2023, he hosted a $50,000-per-plate fundraiser for presidential candidate
Vivek Ramaswamy Vivek Ganapathy Ramaswamy (born August 9, 1985) is an American entrepreneur and politician. He founded Roivant Sciences, a Biotechnology, biotech Pharmaceutical industry, pharmaceutical company in 2014 and was its Chief executive officer, CEO ...
, and in 2024, co-hosted a $12 million
Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...
fundraiser with his All-In Podcast co-host David O. Sacks in
San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...
. He was a co-host, along with Jacqueline Sacks, David Sacks's wife, of the fundraising event, which raised $12 million and was held on 6 June 2024 at Sacks's Pacific Heights home. Previously, in early 2021, he briefly considered running in the California gubernatorial recall election before withdrawing from consideration.


Immigration reform and policy advocacy

Palihapitiya was listed as one of the "Founders" of the lobbying group FWD.us. The group launched on 11 April 2013, and its goals include immigration reform, improving education, and enabling technological innovation, all in a United States context. An article in ''
The New Republic ''The New Republic'' (often abbreviated as ''TNR'') is an American magazine focused on domestic politics, news, culture, and the arts from a left-wing perspective. It publishes ten print magazines a year and a daily online platform. ''The New Y ...
'' stated that Palihapitiya received a weekly report about FWD.us and also quoted him as saying, in response to controversy around the FWD.us political lobbying strategy: "The folks that are actually people that run that day to day are sophisticated and understand the nuances of how to affect it... It's a really gnarly, gnarly thing having to deal with Washington. And to be honest with you, my perspective was, it's a really good investment because it's a good way to pay it forward, and I'm really glad there are other people other than me who are dealing with it who have the patience and resolve to figure it out."


San Francisco inequality and housing controversy

At
Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician a ...
's ''Next Big Thing'' conference in
Sausalito, California Sausalito ( Spanish for "small willow grove") is a city in Marin County, California, United States, located southeast of Marin City, south-southeast of San Rafael, and about north of San Francisco from the Golden Gate Bridge. Sausalito's ...
, Palihapitiya made remarks critical of San Francisco's then mayor, Ed Lee, and proposed that the city provide subsidized housing to low-income residents funded by an equity tax on startups, with the tax-and-subsidy schemes potentially restricted to particular zones of the city. This led to a heated debate between Palihapitiya and super angel
Ron Conway Ronald Crawford Conway (born March 9, 1951) is an American venture capitalist and philanthropist. He has been described as one of Silicon Valley's " super angels". He is co-founder of SV Angel. Early career Conway graduated from San Jose State ...
. Conway, a supporter of Lee, defended the city's policies, argued that things would get better for all residents, and noted that Palihapitiya lives in
Palo Alto Palo Alto ( ; Spanish language, Spanish for ) is a charter city in northwestern Santa Clara County, California, United States, in the San Francisco Bay Area, named after a Sequoia sempervirens, coastal redwood tree known as El Palo Alto. Th ...
rather than in the city. In a later clarification to ''
TechCrunch TechCrunch is an American global online newspaper focusing on topics regarding high tech, high-tech and Startup company, startup companies. It was founded in June 2005 by Archimedes Ventures, led by partners Michael Arrington and Keith Teare. I ...
'', Palihapitiya outlined his vision in more detail and described how his views on inequality and social mobility were shaped by his experience growing up with poor immigrant parents in
Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...
.


Social media

In 2017, Palihapitiya sparked discussion about
social media Social media are interactive technologies that facilitate the Content creation, creation, information exchange, sharing and news aggregator, aggregation of Content (media), content (such as ideas, interests, and other forms of expression) amongs ...
's societal impact, drawing from his experience at
Facebook Facebook is a social media and social networking service owned by the American technology conglomerate Meta Platforms, Meta. Created in 2004 by Mark Zuckerberg with four other Harvard College students and roommates, Eduardo Saverin, Andre ...
. He argued that while social platforms could be "a force for good," their design created "
dopamine Dopamine (DA, a contraction of 3,4-dihydroxyphenethylamine) is a neuromodulatory molecule that plays several important roles in cells. It is an organic chemical of the catecholamine and phenethylamine families. It is an amine synthesized ...
-driven
feedback loop Feedback occurs when outputs of a system are routed back as inputs as part of a chain of cause and effect that forms a circuit or loop. The system can then be said to ''feed back'' into itself. The notion of cause-and-effect has to be handle ...
s" that could harm social discourse and behavior. This perspective extends to his personal life, where he actively limits his children's screen time and social media exposure, emphasizing direct engagement over technological dependence.


California gubernatorial campaign

On 25 January 2021, Palihapitiya announced he would challenge incumbent California Governor
Gavin Newsom Gavin Christopher Newsom ( ; born October 10, 1967) is an American politician and businessman serving since 2019 as the 40th governor of California. A member of the Democratic Party (United States), Democratic Party, he served from 2011 to 201 ...
in the event Newsom was recalled. If elected, Palihapitiya said he would cut the state income tax rate from 16 to 0 percent, provide free education vouchers, allow for a two thousand dollar credit for every child born in California, and work to make California the center of climate and technology jobs. He shared a campaign website that was created by a supporter. In February 2021, however, Palihapitiya declared he would not run for governor.


Comments on persecution of Uyghurs in China

In January 2022, Palihapitiya said on the '' All-In'' podcast to co-host
Jason Calacanis Jason McCabe Calacanis (born November 28, 1970) is a podcaster, American Internet entrepreneur, angel investor, and author. His first company was part of the Dot-com bubble, dot-com era in New York. His second venture, Weblogs, Inc., a publishi ...
that the alleged
persecution of Uyghurs in China Since 2014, the government of the People's Republic of China has committed a series of ongoing human rights abuses against Uyghurs and other Turkic Muslim minorities in Xinjiang which has often been characterized as persecution or as ...
does not concern him:
Nobody cares about what's happening to the Uyghurs, okay. You bring it up because you care and I think it's nice that you care. The rest of us don't care. I'm just telling you a very hard, ugly truth. Of all the things that I care about, yes, it is below my line.
Palihapitiya said he and most Americans care more about domestic economic issues than the
human rights abuses Human rights are universally recognized moral principles or norms that establish standards of human behavior and are often protected by both national and international laws. These rights are considered inherent and inalienable, meaning t ...
of
China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...
's
Uyghur Uyghur may refer to: * Uyghurs, a Turkic ethnic group living in Eastern and Central Asia (West China) ** Uyghur language, a Turkic language spoken primarily by the Uyghurs *** Old Uyghur language, a different Turkic language spoken in the Uyghur K ...
minority. In response, the
Golden State Warriors The Golden State Warriors are an American professional basketball team based in San Francisco. The Warriors compete in the National Basketball Association (NBA) as a member of the Pacific Division of the Western Conference. Founded in 1946 i ...
issued a statement saying that Palihapitiya "does not speak on behalf of our franchise, and his views certainly don't reflect those of our organization." Palihapitiya later apologized for these comments in a tweet, stating that he recognized he came across as "lacking empathy" and that "To be clear, my belief is that human rights matter, whether in China, the United States, or elsewhere. Full stop."


Investments and philanthropy

In 2010, Palihapitiya acquired a 10% stake in the
Golden State Warriors The Golden State Warriors are an American professional basketball team based in San Francisco. The Warriors compete in the National Basketball Association (NBA) as a member of the Pacific Division of the Western Conference. Founded in 1946 i ...
; he sold his stake in the team in June 2023. Palihapitiya has donated consistently to his alma mater, the
University of Waterloo The University of Waterloo (UWaterloo, UW, or Waterloo) is a Public university, public research university located in Waterloo, Ontario, Canada. The main campus is on of land adjacent to uptown Waterloo and Waterloo Park. The university also op ...
, including a $25 million donation to the engineering department in 2018. In 2021, he donated $7 million to provide clean drinking water to 1,000 families in California's Central Valley through hydropanels technology.


Personal life

After graduating from the
University of Waterloo The University of Waterloo (UWaterloo, UW, or Waterloo) is a Public university, public research university located in Waterloo, Ontario, Canada. The main campus is on of land adjacent to uptown Waterloo and Waterloo Park. The university also op ...
, Palihapitiya followed his future wife Brigette Lau to
California California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an ...
. They had three children before divorcing in 2018. He later married Nathalie Dompé, an Italian business executive, in 2023. They have two children together. An accomplished
poker Poker is a family of Card game#Comparing games, comparing card games in which Card player, players betting (poker), wager over which poker hand, hand is best according to that specific game's rules. It is played worldwide, with varying rules i ...
player, Palihapitiya has competed in both
World Series of Poker The World Series of Poker (WSOP) is a series of poker tournaments held annually in Paradise, Nevada, and since 2004, sponsored by Eldorado Resorts, Caesars Entertainment. It dates its origins to 1970, when Benny Binion invited seven of the best ...
and
World Poker Tour The World Poker Tour (WPT) is an internationally televised gaming and entertainment brand. Since 2002, the World Poker Tour has operated a series of international poker tournaments and associated television series broadcasting playdown and the ...
events, with total winnings of $175,801. In 2011, he placed 101st out of 6,865 entries in the WSOP Main Event. Palihapitiya purchased a $75 million Bombardier Global 7500 in 2020.


See also

*
List of University of Waterloo people The University of Waterloo, located in Waterloo, Ontario, Canada, is a comprehensive public university that was founded in 1957 by Drs. Gerry Hagey and Ira G. Needles. It has grown into an institution of more than 42,000 students, faculty, and st ...


References


External links

* * * {{DEFAULTSORT:Palihapitiya, Chamath 1976 births Living people American billionaires American people of Sri Lankan descent American venture capitalists Bank of Montreal people Canadian expatriates in the United States Canadian people of Sri Lankan descent Lisgar Collegiate Institute alumni Facebook employees Silicon Valley people Sri Lankan emigrants to Canada University of Waterloo alumni