HomeBasketballPalihapitiya Sells 2% stake of Golden State Warriors

Palihapitiya Sells 2% stake of Golden State Warriors

Palihapitiya Sells 2% stake of Golden State Warriors

Chamath Palihapitaya, has sold his remaining 2% stake, in the National Basketball Association (NBA) team the Golden State Warriors which are valued at USD $5.6 billion (AUD $8.25 billion).

Originally owning 10% of the team and selling its majority in December, Palihapitiya’s investment in 2011 came when the warriors were worth USD $450 million (AUD $472 million).

CEO, Social Capital, Palihapitaya used twitter to reflect on his former stake in the warriors.

“I’m grateful for having been part of one of the greatest teams in history,” Palihapitaya said.

“Winning culture is contagious, and this team has reinforced many of my existing beliefs, but also challenged me to change my mind on some others.”

“The returns, as I learned in the end, were not just economic but intellectual and emotional as well – a rare trifecta and a really lucky outcome.,” Palihapitiya wrote.

The sale comes as Arctos Sports Partners increased their stake in the Warriors.

In January, former executive at Facebook and current host of the “All In” podcast, Palihapitiaya, said “nobody cares” about the Uyghur population in China.

In response the warriors issued a statement regarding Palihapitiya’s comments: “As a limited investor who has no day-to-day operating functions with the Warriors, Mr Palihapitiya does not speak on behalf of our franchise, and his views certainly don’t reflect those of our organization.”

Responding to the controversy, Palihapitiya attempted to clarify his views: “To be clear, my belief is that human rights matter, whether in China, the United States, or elsewhere. Full stop.”

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