Palantir CEO buys forest for $22 million – and angers the Swedes

Palantir CEO and co-founder Alex Karp purchased approximately 150,000 dunams of forests in Sweden for $22 million. The deal led to the cancellation of local hunting contracts and sparked controversy. The acquisition reflects a growing trend of billionaires buying land as assets for personal and business needs.

Palantir CEO and co-founder Alex Karp purchased approximately 150,000 dunams of forests in Härjedalen County, Sweden, for $22 million. The transaction was carried out through a newly established company owned by him. The acquisition led to the immediate cancellation of hunting lease contracts for local hunters in the area, sparking anger among residents who have been accustomed to hunting and hiking in the forests for generations. The land was bought from the Swedish paper manufacturer SCA, which explained that it sold the area because it was not optimal for its timber industry. The company confirmed that the cancellation of hunting rights was an integral part of the sale agreement. Meanwhile, representatives of Karp's company clarified that the purpose of the acquisition is to preserve the wild nature, protect habitats, and maintain the forest's character as a peaceful place. According to Fortune magazine, the purchase of agricultural land and forests has become a popular trend among the world's wealthy as a hedge against inflation. Karp also owns a monastery complex in Colorado purchased for $120 million.