Palantir, a defense contractor, has seen its stock surge over 600% since the start of 2024, making CEO Alex Karp a major beneficiary.

Karp sold 38 million shares, worth $1.88 billion, including 25 million shares around the 2024 presidential election.

He plans to sell up to 9.98 million more shares this year, potentially netting over $1 billion. These sales are part of a pre-planned trading strategy.

Karp, who co-founded Palantir in 2004 with Peter Thiel’s backing, is known for his progressive views, contrasting with Thiel’s conservative stance, Fortune has reported.

Despite controversy over the company’s work with ICE, Karp defends Palantir’s role in U.S. defense and intelligence, with the company receiving $2.7 billion from the federal government.

Written by B.C. Begley