SPONSOR SPOTLIGHT
Chamath Palihapitiya
Social Capital Hedosophia
The self-proclaimed "SPAC King" who planned SPACs from A to Z. Literally — IPOA through IPOZ. He made it to F.
SPACs Launched
10
IPOA–DNAD
Merged
6 (5 lost)
Liquidated
4
Best outcome ironically
Avg Merged Return
-61.0%
IPOA
MergedVirgin Galactic → SPCE
-98.5%
return
Space · EV $1.5B · Merged 2019-10
Flagship deal. Peak ~$60B mkt cap. Now -98.5% after reverse split.
IPOB
MergedOpendoor → OPEN
-62.9%
return
Real Estate · EV $4.8B · Merged 2020-12
iBuyer platform. Down 63% from merger.
IPOC
MergedClover Health → CLOV
-74.4%
return
Healthcare · EV $3.7B · Merged 2021-01
Hindenburg target. SEC investigation. Down 74%.
IPOD
LiquidatedNo target found
0%
return
Failed to find target. Warrants expired worthless.
IPOE
MergedSoFi Technologies → SOFI
+50%
return
Fintech · EV $8.7B · Merged 2021-06
ONLY winner. Now a real bank. Still below speculative peaks.
IPOF
LiquidatedNo target found
0%
return
Largest SPAC at $1B. Failed to find target.
DNAA
MergedAkili Interactive → AKLI
-95%
return
Biotech · EV $0.3B · Merged 2022-08
Digital therapeutics. Essentially zero.
DNAB
LiquidatedNo target found
0%
return
Biotech-focused. No target found.
DNAC
MergedProKidney → PROK
-85%
return
Biotech · EV $0.3B · Merged 2022-07
Kidney cell therapy. Down ~85%.
DNAD
LiquidatedNo target found
0%
return
Biotech. Warrants expired worthless.
💡 Key Insights
- •5 of 6 merged companies lost money for public investors
- •Only SoFi generated positive returns
- •4 SPACs liquidated — ironically the BEST outcome for investors (got money back)
- •Planned IPOG through IPOZ (7 more) but never launched — peak hubris
- •Chamath personally sold most of his stakes before crashes
- •Called himself 'democratizing access' while retail lost billions
The Irony
The 4 liquidated SPACs were the BEST outcome for investors. They got their $10 back. The 5 merged losers destroyed billions.