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Palihapitiya Says He's Less Likely To Run For California Governor: 'I'm Not Ready'

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Chris Katje
·1 min read
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The so-called SPAC King Chamath Palihapitiya has been very critical of California Governor Gavin Newsom, even calling for his recall. After discussing a possible run against Newsom, Palihapitiya seems less likely to explore the option.

What Happened: On his All-In podcast hosted with friends, Palihapitiya discussed the possibility of running for governor of California.

“Let’s be really honest. I’m not ready to do any of that,” Palihapitiya said.

The investor wouldn’t rule out running but said he would need to figure out his businesses and possible conflicts of interests among his investments and a political career.

Palihapitiya is the Chairman of Virgin Galactic (NYSE: SPCE) and also has Social Capital Hedosophia Holdings IV (NYSE: IPOD) and Social Capital Hedosophia Holdings VI (NYSE: IPOF) still searching for SPAC merger deals.

Related Link: 5 Things You Might Not Know About Chamath Palihapitiya

Betting Odds: While Palihapitiya may not run for governor, sports bookies think he could win if he does put his name on the ballot.

Before the podcast, Palihapitiya was favored at even money by Bovada versus Newsom who was +105. Current odds from Bovada show Palihapitiya at -105, slightly below the favorite Newsom at -110.

Price Action: Shares of IPOD and IPOF were each up 2% Wednesday.

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