Statement from Soros Fund Management on Palantir Investment
Soros Fund Management LLC (SFM) did not recently purchase shares in Palantir Technologies Inc. SFM’s current interest in Palantir, which amounts to approximately one percent of the Class A (limited voting) shares of the company, is the result of a private early-stage investment made in 2012 by a portfolio manager who is no longer employed by SFM. When Palantir converted to a public company, SFM’s interest was converted into shares in the public company. SFM has sold all shares in the company that it is not legally or contractually obliged to hold and will continue to sell shares as permitted. SFM does not approve of Palantir’s business practices. SFM made this investment at a time when the negative social consequences of big data were less understood. SFM would not make an investment in Palantir today.