George Soros’ fund is offloading Palantir shares because it ‘does not approve’ of its business practices

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Hungarian-born US investor and philanthropist George Soros delivers a speech on the sideline of the World Economic Forum (WEF) annual meeting, on January 23, 2020 in Davos, eastern Switzerland.Fabrice Coffrini | AFP | Getty ImagesSoros Fund Management, the asset management company founded by billionaire investor and philanthropist George Soros, has disclosed that it plans to sell its stake in data analytics firm Palantir, which listed on the New York Stock Exchange in September.Palantir has been described as the company that “knows everything about you” and its software is used by government surveillance agencies around the world for spying purposes. It was co-founded in 2003 by German-American entrepreneur and venture capitalist Peter Thiel, who donated to Donald Trump’s presidential campaign in 2016.Soros Fund Management announced this week that it “does not approve of Palantir’s business practices.” Palantir did not immediately respond to a CNBC request for comment.The family office, which Soros founded in 1969, backed Palantir privately in early 2012 through a portfolio manager who is no longer with the company. It holds approximately 1% of Palantir’s Class A (limited voting) shares.SFM said it has offloaded all of its Palantir shares that it is not legally or contractually obliged to hold. It added that it …

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