The CEO of secretive data analysis startup Palantir made over $12 million last year, and will get $800,000 in travel stipends in 2020
© Photo by Julien Mattia/NurPhoto via Getty Images Palantir CEO Alex Karp Photo by Julien
- In SEC paperwork to go public, secretive data company Palantir revealed its CEO Alexander Karp made $12 million last year and had a travel stipend of $600,000.
- Karp also was compensated for nearly $1 million for “the person use of chartered aircraft.”
- Palantir filed IPO paperwork the day after a slew of unicorn-status enterprise tech startups filed to go public.
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Palantir CEO Alex Karp received a hefty $12 million in compensation last year, including a $600,000 travel stipend.
Karp’s travel allowance — paid out in quarterly installments — was bumped up to $800,000 this year, the company revealed in its paperwork for a public listing on Tuesday.
With the coronavirus pandemic having shut down most of the world however, it’s unclear where Karp will be traveling to.
Palantir noted in its S-1 that it has stopped all non-essential business travel by employees because of the pandemic. And the company even says it saved $1.4 million in the first six months of the year because of “COVID-related travel restrictions” and company-wide initiatives to decrease overall travel.
What that means for Karp’s frequent journeys is not clear. In 2019, the company’s 52-year-old cofounder and CEO, received $2.8 million in “other compensation,” including $1.46 million in personal security services as well as a substantial chunk for travel on personal trips and for commitments to other business roles not related to Palantir.
According to the S-1, Karp’s expenses included $979,091 for “the personal use of chartered aircraft pursuant to the aforementioned security program and incurred in connection with service on board of directors of other organizations and other personal travel.”
Another $267,011 of that compensation was for “other personal travel costs, including the use of corporate housing, incurred in connection with service on board of directors of other organizations”
Karp is one of Palantir’s 3 highest-paid executives listed in the S-1.
In 2019, President Stephen Cohen and Chief Operating Officer Shyam Sankar made $16 million and $25 million respectively.