The “Big Short” investor Michael Burry has targeted Palantir Technologies Inc. (NASDAQ:PLTR) again after the company’s latest annual filing revealed CEO Alex Karp‘s private jet expenses surged to over $17 million, sparking a debate over corporate governance and executive perks.
According to Palantir’s Form 10-K, the company reimbursed CEO Karp $17.2 million for the use of his “Executive Aircraft” in 2025. This figure represents a massive 123% increase from the $7.7 million reported for 2024.
Burry, posting on X, noted the irony of the arrangement, stating, “It’s quite the feat to spend $17.2mn in a year… particularly when the jet’s not even a rental.”
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The aircraft is beneficially owned by Karp himself, meaning the company is essentially paying its CEO for the use of his own asset for both business and personal travel.
From Palantir’s Form 10k released on Tuesday:
Alexander Karp, the Company’s Chief Executive Officer, flies on non-commercial aircraft beneficially owned by him (the “Executive Aircraft”) for business and personal travel. During the years ended December 31, 2025 and 2024, the…
Financial analysts have struggled to reconcile the $17.2 million “tab” with standard aviation costs. Jefferies’ analyst Brent Thill provided a breakdown of what that level of spending actually implies for a CEO’s schedule:
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Mid-sized Jet ($7K/hr): Implies 2,457 flight hours, or roughly 28% of the entire year spent in the air.
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High-end G650 ($15K/hr): Implies 1,147 flight hours, or 13% of the year.
Thill noted that these figures are “elevated relative to peers,” pointing out that Meta Platforms Inc.‘s (NASDAQ:META) Mark Zuckerberg and Palo Alto Networks Inc.‘s (NASDAQ:PANW) Nikesh Arora spent approximately $1.8 million and $2.4 million, respectively, on similar travel.
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The disclosure has reignited scrutiny regarding Palantir’s internal controls. While the company utilizes its own “Gotham” and “Foundry” software to help organizations find efficiencies, critics argue the CEO’s travel budget suggests a lack of the same discipline at home.
