‘SPAC King’ Chamath Palihapitiya closing two SPACs after failing to find deals

Chamath Palihapitiya. (REUTERS)Premium
Chamath Palihapitiya. (REUTERS)
 wsj 4 min read . Updated: 20 Sep 2022, 07:08 PM IST AMRITH RAMKUMAR, The Wall Street Journal

One of the biggest promoters of SPACs is shutting down two deal-making efforts that together hold more than $1.6 billion after the market collapsed, wiping out tens of billions in startup market value and punishing individual investors.

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