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        <title><![CDATA[George Soros claims he regrets investing in Palantir as stock surges]]></title>
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            <media:title type="html">George Soros claims he regrets investing in Palantir as stock surges</media:title>
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						<p>George Soros claims he has buyer&#8217;s remorse about his investment in Palantir — even though he&#8217;s kept his lucrative stake through some of the secretive Silicon Valley firm&#8217;s biggest controversies.</p>
<p>The left-leaning billionaire&#8217;s eponymous fund revealed last week that it owns more than 18 million Palantir shares amounting to a roughly 1 percent stake in the data-mining company that was co-founded by libertarian tech tycoon Peter Thiel.</p>
<p>Palantir shares on Thursday were recently up 4.6 percent at $18.72, valuing Soros&#8217; stake at $337 million.</p>
<p>Palantir&#8217;s stock price has nearly doubled since it <strong>went public</strong> on Sept. 30. Soros says he has dumped every share he&#8217;s not legally obligated to keep because he &#8220;does not approve of Palantir’s business practices,&#8221; which include parsing troves of data for shadowy government agencies such as the CIA and Immigration and Customs Enforcement.</p>
<p>Soros&#8217; firm, Soros Fund Management, &#8220;made this investment at a time when the negative social consequences of big data were less understood,&#8221; Soros said in a <strong>statement</strong> on Tuesday, adding that the fund &#8220;would not make an investment in Palantir today&#8221; and will continue to sell its shares &#8220;as permitted.&#8221;</p>
<p>Soros&#8217; statement didn&#8217;t say when he previously sold Palantir shares, when he plans to sell the rest of his stake or whether he&#8217;s made a profit on the investment.<span >&nbsp;A spokesman for Soros Fund Management didn&#8217;t immediately respond to emailed questions.</span></p>
<p>The 90-year-old billionaire said a portfolio manager who is no longer with his firm decided to make a private investment in Palantir in 2012. The stake was converted into common stock when the Colorado-based company went public, he said.</p>
<p>But Palantir had been the subject of public controversy well before Soros disclosed the investment. Immigrant-rights groups have criticized the company in recent years for its work with ICE, which reportedly uses its tools to go after immigrants who are in the US illegally.</p>
<p>A whistleblower alleged in 2018 that Palantir had ties to Cambridge Analytica, the now-defunct political consulting firm that harvested data from millions of Facebook users to benefit President Trump&#8217;s 2016 campaign. Palantir later <strong>told Bloomberg Businessweek</strong> that it did not work with Cambridge Analytica, though a Palantir employee worked with the firm in a personal capacity.</p>
<p>Soros&#8217; concerns haven&#8217;t stopped other investment tycoons from scooping up significant stakes in Palantir.</p>
<p>Point72 Asset Management, the hedge fund led by <strong>newly minted Mets owner Steve Cohen</strong>, recently disclosed that it owns about 30 million shares, while Dan Loeb&#8217;s Third Point Management holds about 2.4 million and New York-based Anchorage Capital has about 3 million, according to securities filings.</p>
<p>Palantir — whose biggest individual shareholder is Thiel — didn&#8217;t immediately respond to a request for comment Thursday. The company&#8217;s share price climbed as high as $18.85 on Thursday, about 88 percent above its initial listing price of $10.</p>
			
					
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