With Twitter as his bullhorn, Palihapitiya has become the undisputed king of special purpose acquisition companies, the hottest thing on Wall Street. Together with Ian Osborne, a public relations soothsayer turned financier, he has sponsored six SPACs, raised a total of $4.34 billion and acquired businesses in space travel, health insurance, financial services and real estate.
What are special purpose acquisition companies, and why are they so hot? Ask the king of SPACs.
