The billionaire businessperson, Chamath Palihapitiya stated that he had sold the final portion of his minority equity in Golden State Warriors of the National Basketball Association (NBA), something that he had owned since 2011.
A Canadian and American entrepreneurial capitalist, engineer, SPAC supporter, and the founder and CEO of Social Capital, Chamath Palihapitiya is originally from Sri Lanka. From 2007 through 2011, Palihapitiya served as an initial senior executive of Facebook.
After leaving Facebook, Palihapitiya established The Social+Capital Partnership, a company through which he made investments in a number of businesses, including Yammer and Slack. In 2015, the Social+Capital Partnership adopted the moniker Social Capital.
He also hosts a technological podcast entitled ‘All In’. Palihapitiya is placed 2,378th on Forbes‘ list of the world’s billionaires as of April 2021, with an approximate personal value of about US$1.2 billion.
Prior to the Warriors going on a run of four NBA championships, with the latest coming last month, Palihapitiya originally had purchased 10% of the franchise. According to Palihapitiya, he sold off the majority of his team ownership position in December.
Arctos Sports Partners increased its ownership of the Warriors at the same time as that deal.
Palihapitiya’s final 2 per cent ownership stake in the franchise, which Forbes values at $5.6 billion, was ultimately worth at least twice his first 10 per cent purchase when the team was only worth $450 million.
In a tweet, Palihapitiya, stated, “I’m grateful for having been part of one of the greatest teams in history.
“Winning culture is contagious, and this team has reinforced many of my existing beliefs, but also challenged me to change my mind on some others.
“The returns, as I learned in the end, were not just economic but intellectual and emotional as well — a rare trifecta and a really lucky outcome.”