Chamath Palihapitiya sells 15% of his stake in SOFI

Chamath Palihapitiya sells 15% of his stake in SOFI

Billionaire Chamath Palihapitiya has sold 15% of his position in the crypto and stock trading platform and finance company SoFi.

The company went public earlier this year through a merger with a blank-check company led by Palihapitiya, and was valued originally at $8.65 billion and now has a market cap of $17.04 billion.

Palihapitiya, a Bitcoin billionaire and former senior executive at Facebook, confirmed his move to sell SoFi stock via a tweet on Nov. 19.

1/ Many of us are trying to make sense of what’s happening in the markets these days. Here are some observations and moves we’ve recently made to continue our work:

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— Chamath Palihapitiya (@chamath) November 18, 2021

In his announcement, he stated “Equity markets, crypto markets, art valuations, SaaS multiples —

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