Richest Black US billionaire Alex Karp buys 37,000-acre Swedish forest

Alex Karp’s fortune has climbed above $20 billion as Palantir Technologies shares surge, making him the first U.S. Black billionaire to cross that threshold. The 58-year-old chief executive is also putting part of his wealth into physical assets, acquiring about 15,000 hectares, or 37,000 acres, of forest in Sweden.

Karp’s Swedish land deal

Karp acquired the forest in Härjedalen through Cladonia Skog AB, a newly registered company in which he is the beneficial owner. The property changed hands for 235 million Swedish kronor, or about $22 million, according to reports. The purchase has already affected local hunting arrangements around Storsjö Kapell, a village known for hiking and fishing.

Svenska Cellulosa Aktiebolaget, the paper manufacturer that previously owned the property, confirmed the sale and described the forest as suboptimal for forestry. SCA said hunting rights had been granted under renewable leases of about 11 months, meaning those agreements expired when ownership of the land transferred.

A vast Scandinavian holding

Cladonia said it plans to conduct forestry and related activities on the property, while its broker, Scandinavian Trust, said the new owner was committed to preserving the land. Jenny Lopes Da Silva, a Cladonia board member and Scandinavian Trust sales manager, said the forests provide wildlife habitat as well as space for recreation and restoration.

The purchase also adds to Karp’s existing ties to Sweden through Palantir, which has partnered with Swedish defense authorities. Palantir expanded its European software operations about a decade ago, as its growing role in artificial intelligence and technology has attracted scrutiny from governments seeking greater technological independence from U.S. suppliers.

Karp’s global property spree

The Swedish acquisition follows another major purchase by Karp earlier this year: a $46 million waterfront mansion on Miami’s Venetian Islands. Property records show Hibiscus East LLC bought the 9,700-square-foot home on San Marino Island, with New Hampshire lawyer Patrick Collins listed as the company’s representative.

Karp has a reported net worth of $20.7 billion, according to the Bloomberg Billionaires Index, placing him among the world’s wealthiest people. His roughly 2 percent stake in Palantir is worth about $11 billion. In December, he paid $120 million for a former monastery in Colorado, setting a residential sales record in Pitkin County.