Palantir’s CTO became an overnight billionaire thanks to soaring stock—he’s the $411 billion AI firm’s fifth insider to join the ultra-wealthy club

Shyam Sankar sitting (Credit: Al Drago/Bloomberg via Getty Images)

• Palantir’s first billion-dollar quarter is dramatically increasing the wealth of the company’s cofounders and C-suite. Peter Thiel and Alex Karp have each seen their net worth jump by $17 billion collectively—and the company’s chief technology officer is the latest to join the billionaires club. This comes as Palantir admits its goal is to cut jobs—but grow revenue by 10x thanks to AI.

Palantir’s stock has hit turbo mode. In the last month alone, shares surged by some 25%, helping the AI and analytics company reach a market cap north of $411 billion. And over the last year, the stock has skyrocketed by more than 550%.