Palantir Buys $50.7 Million Worth of Gold Bars

Posted by Neal Freyman,

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Palantir, the data analytics software company cofounded by Peter Thiel, revealed in a filing that it bought $50.7 million worth of 100-ounce gold bars.

Why? “You have to be prepared for a future with more black swan events,” COO Shyam Sankar told Bloomberg. A black swan event is a potentially devastating economic crisis that no one sees coming—like, say, Covid-19.

Where? The gold will be stored in a secure location in the northeastern US, so…nowhere near a New York bar’s coatrack…read more