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Venture Capital

At Peter Thiel’s Palantir, Allegations of Theft and Deception

The data mining startup blocked China’s CDH Investments from buying stock, says an unredacted lawsuit obtained by Bloomberg.

Marc Abramowitz thought he’d found kindred spirits in the founders of Palantir Technologies Inc. Like Chief Executive Officer Alex Karp and billionaire Chairman Peter Thiel, Abramowitz was a Stanford University alumnus looking to build a business empire. In 2006, Abramowitz made an investment in their then unknown startup and became a regular around the office.

In recent years, Palantir has risen to be a global data mining giant with a $20 billion valuation. Abramowitz’s shares are estimated to be worth $60 million. But his relationship with the founders has turned toxic, and they now have competing lawsuits in two states.