{"id":135781,"date":"2022-02-18T06:24:05","date_gmt":"2022-02-18T14:24:05","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2022\/02\/chamath-palihapitiya-who-took-virgin-galactic-public-steps-down-from-space-companys-board"},"modified":"2022-02-18T06:24:05","modified_gmt":"2022-02-18T14:24:05","slug":"chamath-palihapitiya-who-took-virgin-galactic-public-steps-down-from-space-companys-board","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2022\/02\/chamath-palihapitiya-who-took-virgin-galactic-public-steps-down-from-space-companys-board","title":{"rendered":"Chamath Palihapitiya, who took Virgin Galactic public, steps down from space company\u2019s board"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/chamath-palihapitiya-who-took-virgin-galactic-public-steps-down-from-space-companys-board.jpg\"><\/a><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/SPCE\" target=\"_blank\">Virgin Galactic<\/a> announced Friday that Chairman <a href=\"https:\/\/www.cnbc.com\/chamath-palihapitiya\/\">Chamath Palihapitiya<\/a> is stepping down from the space tourism company\u2019s board of directors, effective immediately.<\/p>\n<p>Palihapitiya\u2019s SPAC, or special purpose acquisition company, <a href=\"https:\/\/www.cnbc.com\/2019\/10\/28\/virgin-galactic-stock-trading-debut-on-nyse-under-the-ticker-spce.html\">took Virgin Galactic public in October 2019<\/a>. The company\u2019s stock has experienced volatile trading since then \u2013 climbing above $60 a share in the months ahead of <a href=\"https:\/\/www.cnbc.com\/richard-branson\/\">Sir Richard Branson\u2019s<\/a> <a href=\"https:\/\/www.cnbc.com\/2021\/07\/11\/richard-branson-reaches-space-on-virgin-galactic-flight.html\">test spaceflight<\/a>, but recently falling back below its public debut price with <a href=\"https:\/\/www.cnbc.com\/2021\/10\/14\/virgin-galactic-delays-beginning-of-commercial-spaceflights-to-fourth-quarter-2022.html\">the beginning of commercial service delayed more than two years<\/a> from what the company forecast.<\/p>\n<p>The now-former chairman <a href=\"https:\/\/www.cnbc.com\/2021\/03\/05\/chamath-palihapitiya-sells-virgin-galactic-spce-stake.html\">sold his personal Virgin Galactic stake in early 2021<\/a> that was worth over $200 million at the time. But Palihapitiya indirectly owns about 15.8 million shares through Social Capital Hedosophia Holdings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Virgin Galactic announced Friday that Chairman Chamath Palihapitiya is stepping down from the space tourism company\u2019s board of directors, effective immediately. Palihapitiya\u2019s SPAC, or special purpose acquisition company, took Virgin Galactic public in October 2019. The company\u2019s stock has experienced volatile trading since then \u2013 climbing above $60 a share in the months ahead of [\u2026]<\/p>\n","protected":false},"author":396,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1514],"tags":[],"class_list":["post-135781","post","type-post","status-publish","format-standard","hentry","category-space-travel"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/135781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/396"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=135781"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/135781\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=135781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=135781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=135781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}