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Virgin Galactic Chairman Chamath Palihapitiya sells off remaining personal stake in the space company

The man who arguably ushered in the current SPAC rush with the merger of Virgin Galactic with his Social Capital Hedosophia holding company has divested the remainder of his personal holdings in the space tourism company. Chamath Palihapitiya, who serves as the Chairman of Virgin Galactic’s board, still holds 6.2% ownership in the company in partnership with investor Ian Osborne, but his solo holdings are now at zero.
Palihapitiya sold 3.8 million shares in December 2020, noting that he was selling that equity “to help manage [his] liquidity” in order to provide funding for “several new projects starting in 2021.” At the time, Palihapitiya said he “remained committed and excited fore the future of SPCE [Virgin Galactic’s stock ticker on the NYSE].”


Please note that I filed a Form 4 for the sale of 3.8M shares of SPCE. I sold these shares to help manage my liquidity as I fund several new projects starting in 2021. I remain committed and excited for the future of SPCE. Just wanted to be transparent.https://t.co/OsUaVgVwKF
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