Table of Contents
Key Points
- Fueled by Palantir’s AI growth, Alex Karp now leads as America’s richest Black billionaire, surpassing Robert F. Smith and David Steward.
- Investor enthusiasm over its AI platform pushed Palantir’s valuation above $330 billion, dramatically boosting Karp’s personal fortune.
- Despite his rising fortune and influence, Karp continues to avoid public attention, quietly selling $50 million in stock this year.
In a tech world full of noise and notoriety, few figures have built their wealth with as much quiet resolve as Alex Karp, the CEO, and co-founder of Palantir Technologies. With his unorthodox demeanor and preference for staying out of the spotlight, Karp has climbed the ranks of America’s wealthiest individuals, now standing as the richest Black person in the United States and second only to Nigeria’s Aliko Dangote among Black billionaires globally.
According to Forbes, Karp’s net worth is estimated at $12.5 billion. That valuation positions him as the 202nd richest person on the planet, placing him ahead of Vista Equity founder Robert F. Smith ($10.8 billion) and World Wide Technology chairman David Steward ($11.4 billion).
Meanwhile, the Bloomberg Billionaires Index, often viewed as a real-time litmus test for elite wealth, pegs Karp’s fortune even higher at $12.8 billion, a $300 million edge over the Forbes estimate. The difference is tied to Bloomberg’s valuation of his 2.63 percent stake in Palantir, which has soared in value amid the AI boom that has reshaped Silicon Valley and Wall Street.
Karp’s wealth soars on AI surge
Karp co-founded Palantir in 2003 alongside Peter Thiel and a small team set on applying big data to society’s hardest problems, from uncovering terrorist networks to rooting out financial crimes. Originally known for its secretive contracts with U.S. intelligence agencies, Palantir has undergone a major shift over the past five years.
Its growing focus on artificial intelligence, especially through platforms like AIP (Artificial Intelligence Platform), has helped transform it from a niche government contractor into a heavyweight in both AI and commercial analytics. That shift has also redefined Karp’s financial standing, launching him into a tier of wealth few imagined for the son of a Jewish mother and an African-American father raised in Pennsylvania.
In early 2024, Karp was worth around $2 billion. By year-end, that number had jumped to $7 billion, thanks in large part to how the market responded to Palantir’s AI developments. The momentum carried into 2025, with the company’s shares rising more than 85 percent so far this year.
With a market cap topping $330 billion, Palantir is now among the 30 most valuable tech companies in the United States. Karp’s stake alone is worth nearly $7.84 billion, and Bloomberg estimates he holds another $2.3 billion in cash. In May, he sold $50 million worth of Palantir stock, a small portion of his holdings, but a sign of how liquid his wealth has become.
Palantir’s financial performance under Karp is impressive. In the first quarter of 2025, revenue climbed to $883.86 million, up 39 percent. U.S. commercial revenue surged 71 percent to $225 million, putting it on track to exceed a $1 billion run rate for the first time.
Government business also expanded, with U.S. federal revenue rising 45 percent to $373 million. The company closed 139 deals worth more than $1 million in the quarter, including 31 above $10 million, and has locked in future contract value of more than $2.3 billion, a 127 percent jump from last year.
Palantir delivers, Karp quietly wins
The numbers speak for themselves: Palantir has grown into a global heavyweight, and Alex Karp has become one of the most influential voices in tech, doing it all while staying far from the spotlight.
The company closed 2024 with $2.87 billion in revenue, up nearly 29 percent from the year before, and posted $370 million in adjusted free cash flow. For investors, it’s been a rewarding climb. For Karp, it’s meant quietly building one of the biggest fortunes in tech, without the noise or theatrics that usually follow.
Even with his growing wealth, Alex Karp has largely stayed out of the spotlight. He avoids the flash that often comes with billionaire status. Still, his influence is hard to miss. As artificial intelligence takes over headlines and reshapes industries, Palantir has emerged as a major force, and Karp is the mind behind it.
His rise isn’t built on hype or convention. Instead, it’s been a steady path marked by clear thinking and a belief in building technology that has lasting value. In a year full of AI headlines, the most surprising story might not be about chips alone, but about how one thoughtful, reserved executive quietly became America’s richest Black billionaire.
