The "SPAC King" Told Retail Investors SPACs Would Level the Playing Field. His Lost 70%+ While He Made $750 Million.

The Silicon Valley VC told retail investors that SPACs would let them invest like venture capitalists in exciting companies. He launched six SPACs. Five of them merged into companies that each lost at least 70% of their value. Shaq's BeachBody SPAC? Trading at 15 cents. But here's where it gets spicy: Chamath reportedly made $750 million by selling his shares before the crash—and got sued by investors for his troubles. The absolute cherry on top? In October 2025, the SPAC King launched a NEW SPAC and explicitly warned retail investors to "avoid SPACs" and "carefully review our disclosures." Thanks for the heads up, Chamath! Only took three years and billions in retail losses for you to find that conscience.