Chamath Palihapitiya

Chamath Palihapitiya (born 3 September 1976) is a Canadian-American venture capitalist and entrepreneur. He is the founder and leader of Social Capital, an investment firm he started in 2011 after working as a senior executive at Facebook from 2007 to 2011. Through Social Capital, Palihapitiya has invested in technology and healthcare companies, sponsored several high-profile special-purpose acquisition company (SPAC) deals, held a minority ownership stake in the Golden State Warriors, and co-hosts the business and technology podcast All-In.

Early life and education
Palihapitiya was born in Sri Lanka to a family from Galle. He moved to Canada at age five when his father joined the staff of the High Commission of Sri Lanka in Ottawa. When his father's posting ended in 1986, the family applied for asylum in Canada because his father had spoken out against violence toward Tamils during the Sri Lankan Civil War.

He grew up in a family that often struggled with money. His father had problems with alcoholism and unemployment, and his mother worked in housekeeping jobs to support the family. At age fourteen, Palihapitiya took a job at Burger King to help cover household expenses. He attended Lisgar Collegiate Institute and later studied electrical engineering at the University of Waterloo, graduating in 1999.

Early career

1999–2007: Winamp and AOL
After graduation, Palihapitiya first worked trading derivatives at BMO Nesbitt Burns. He then moved to California to work at Winamp. When AOL acquired Winamp, he became the company's youngest vice president and led its instant messaging division in 2004. He later spent a short time at Mayfield Fund before joining Facebook in 2007.

2007–2011: Facebook
At Facebook, Palihapitiya led the launch of Facebook Beacon, an advertising system that faced lawsuits and was eventually shut down. He later led the company’s growth team, and Facebook reported reaching one billion users within four years. He also led work on the Facebook Phone and Facebook Home projects before leaving the company in 2011.

Steven Levy wrote in Facebook: The Inside Story that Palihapitiya was seen by many colleagues as a "bully" at Facebook, and that his direct reports sometimes cried because of his management style.

Investment career
In 2011, after leaving Facebook, Palihapitiya and his then-wife Brigette Lau founded Social Capital. The firm invested in enterprise software and financial technology startups, including Yammer, SecondMarket, Slack, Swarm, Groq, and Box. By 2015, Social Capital reported managing more than $1.1 billion in capital.

In 2018, Social Capital changed its structure. It moved from a traditional multi-investor venture capital fund to operate more like a family office. The firm broadened its investment focus beyond startups to also include public stocks, cryptocurrencies, biotech, space technology, climate solutions, and artificial intelligence.

In June 2025, Palihapitiya published his 2024 annual letter as CEO of Social Capital, where he discussed major economic and technology trends. Social Capital reported managing $2.147 billion from $1.4 billion in paid-in capital. In the letter, he argued that the Federal Reserve was losing some power over markets because long-term interest rates stayed high even after rate cuts, partly due to concerns about U.S. government debt and weaker demand for Treasury bonds. He called 2024 a key year for artificial intelligence, citing around $150 billion of venture investment in AI and claiming that China had reached a similar level to the U.S. in core AI models. He described this as America's "Sputnik moment," warning that U.S. technology leadership could be at risk. He also wrote about the rise of new media and the creator economy and highlighted Social Capital’s investments in companies such as Groq (AI inference), Palmetto (clean energy), and Beast Industries (content creation).

8090 venture
In January 2024, Palihapitiya announced a self-funded incubator called 8090. The idea behind 8090 was to rebuild enterprise software with about 80 percent of the original features at about 90 percent lower cost. It planned to use artificial intelligence tools together with offshore engineering teams, and he presented it as a way for companies to avoid high software subscription costs. 

In July 2025, he promoted an 8090 Solutions product called the "Software Factory," saying that alpha testing would start in August ahead of a planned 1 September 2025 launch. He presented it as a more reliable option than many corporate AI proof-of-concept projects, which he claimed had disappointed executives.

SPACs
Starting in 2019, Palihapitiya became a well-known sponsor of special purpose acquisition companies (SPACs). The New Yorker wrote that he "gained notoriety by telling seductive stories of quick riches" while promoting SPAC mergers. His Social Capital Hedosophia SPACs completed deals to take Virgin Galactic public in 2019, Opendoor and Clover Health public in 2020, and SoFi public in 2021.

Many of these SPAC deals were later criticized when several of the merged companies' stock prices fell sharply in 2021 and 2022. This led to investor lawsuits and congressional criticism about how SPAC incentives could hurt small, retail investors. Social Capital Hedosophia Holdings Corp. IV and VI both failed to complete mergers before their deadlines. In September 2022 they redeemed their public shares and liquidated.

Palihapitiya's sponsored SPACs include:

 SPAC Name  Company Taken Public Social Capital Hedosophia Holdings Corp. I (IPOA)  Virgin Galactic Social Capital Hedosophia Holdings Corp. II (IPOB)  Opendoor Social Capital Hedosophia Holdings Corp. III (IPOC)  Clover Health Social Capital Hedosophia Holdings Corp. IV (IPOD)  Liquidated without merger  Social Capital Hedosophia Holdings Corp. V (IPOE)  SoFi Social Capital Hedosophia Holdings Corp. VI (IPOF)  Liquidated without merger  American Exceptionalism Acquisition Corp. A (AEXA)  Currently seeking target 

In September 2025, Palihapitiya launched American Exceptionalism Acquisition Corp. A, a NYSE-listed blank-check company. It raised $345 million through its initial public offering and a private placement, with the funds placed into a trust while it looks for a company to merge with. The company said it plans to focus on targets in energy production, artificial intelligence, decentralized finance, and defense industries.

Political positions and activities
Palihapitiya was for many years a donor to the Democratic Party, giving an estimated $1.3 million over about ten years. By the early 2020s, however, his political giving and public support shifted more toward the Republican Party.

In 2011, Palihapitiya donated $7,500 to U.S. Senate candidate Ted Cruz. In March 2020, he told The New York Times that he wanted to see Michael Bloomberg lead the Democratic ticket in the 2020 Democratic Party presidential primaries, paired with Amy Klobuchar or Elizabeth Warren. 

In 2023, he hosted a $50,000-per-plate fundraiser for Republican presidential candidate Vivek Ramaswamy, and in 2024 he co-hosted a fundraiser in San Francisco that raised about $12 million for Donald Trump, along with his All-In podcast co-host David O. Sacks. The event, held on 6 June 2024 at Sacks's home in Pacific Heights, was co-hosted by Palihapitiya and Jacqueline Sacks.

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. Its goals include immigration reform, improving education, and supporting technological innovation in the United States. 

According to an article in The New Republic, Palihapitiya received weekly updates about FWD.us and said that he saw his involvement as a way to "pay it forward." He also said he was glad that other people with more patience and focus were dealing with the complexities of Washington politics.

San Francisco inequality and housing controversy
At Bloomberg's Next Big Thing conference in Sausalito, California, Palihapitiya criticized San Francisco mayor Ed Lee and suggested that the city should offer subsidized housing to low-income residents. He argued this could be funded with an equity tax on startups, possibly applied only in specific zones of the city. These comments led to a heated exchange with super angel investor Ron Conway. Conway, a supporter of Lee, defended the city's approach, argued that conditions would improve, and pointed out that Palihapitiya lived in Palo Alto rather than in San Francisco itself. In a later clarification to TechCrunch, Palihapitiya said his views on inequality and social mobility were shaped by his experience growing up in a poor immigrant family in Canada.

Social media
In 2017, Palihapitiya publicly discussed the negative social effects of social media, drawing on his experience at Facebook. He said that while social platforms can be "a force for good," they are often built as "dopamine-driven feedback loops" that can hurt social discourse and behaviour. He has said that he strictly limits screen time and social media use for his children and prefers more direct, offline interaction.

California gubernatorial campaign
In January 2021, news outlets such as Axios and Politico reported that Palihapitiya was considering running for governor of California if the recall of Gavin Newsom led to a new election. On 25 January 2021, he tweeted that he would enter the race and published a platform that proposed eliminating state income tax, offering education vouchers, giving a $2,000 credit for each child born in California, and making the state a hub for climate and technology jobs. He also shared a campaign website made by a supporter.

In February 2021, however, Palihapitiya announced that he would not run for governor after all.

Comments on persecution of Uyghurs in China
In January 2022, during an episode of the All-In podcast, Palihapitiya said to co-host Jason Calacanis that the alleged persecution of Uyghurs in China was "below" the list of issues he personally cared about:
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.

He added that he and most Americans care more about domestic economic issues than about human rights abuses against Uyghurs in China. 

The Golden State Warriors responded with a statement saying that Palihapitiya "does not speak on behalf of our franchise, and his views certainly don't reflect those of our organization." After public criticism, Palihapitiya posted an apology on Twitter. He said he understood that he had sounded as if he lacked empathy and that he believed human rights matter in China, the United States, and everywhere else.

Investments and philanthropy
In 2010, Palihapitiya bought a 10% stake in the Golden State Warriors. He sold his stake in June 2023. 

He has also made large donations to his alma mater, the University of Waterloo, including $25 million for the engineering faculty in 2018. In 2021, he pledged $7 million to fund hydropanel technology to provide clean drinking water to 1,000 families in California's Central Valley.

Personal life
After graduating from the University of Waterloo, Palihapitiya followed his future wife Brigette Lau to California. The couple had three children and divorced in 2018. 

In 2023, Palihapitiya married Nathalie Dompé, an Italian business executive. They have two children together.

Palihapitiya bought a $75 million Bombardier Global 7500 private jet in 2020.

See also
 List of University of Waterloo people

References

External links

Category:1976 births
Category:Living people
Category:American billionaires
Category:American people of Sri Lankan descent
Category:American venture capitalists
Category:Bank of Montreal people
Category:Canadian expatriates in the United States
Category:Canadian people of Sri Lankan descent
Category:Lisgar Collegiate Institute alumni
Category:Facebook employees
Category:Silicon Valley people
Category:Sri Lankan emigrants to Canada
Category:University of Waterloo alumni
Category:Asian conservatism in the United States