Clover Health Investments, Corp. CEO Vivek Garipalli Salary & Net Worth
Who Is Vivek Garipalli?
Vivek Garipalli is a well-known name in the healthcare industry. Currently, he is the CEO of Clover Health Investments, Corp., a health insurance company that he co-founded. However, Garipalli and another individual also co-founded CarePoint Health by buying three hospitals out of either bankruptcy or near-bankruptcy from 2008 to 2012 before converting them to run on a for-profit business model. This suggests that he was already very well-off in those days. Now, Garipalli is presumably richer still. However, it should be mentioned that both Clover Health and CarePoint Health are now under investigation by the authorities.
What Is Vivek Garipalli's Salary?
There doesn't seem to be any information about Garipalli's compensation for his services. This is perhaps unsurprising because Clover Health went public in 2021. Speaking of which, it is interesting to note that Garipalli's company didn't do an IPO. Instead, it went public by merging with a special purpose acquisition company, which might be better-known to people as a SPAC. Said method has existed for multiple decades, but it has seen a boost in recent times because of a number of high-profile examples such as DraftKings, Nikola Motor, and Virgin Galactic.
What Is Vivek Garipalli's Net Worth?
Garipalli's exact net worth is unclear. After all, financial information is private information, meaning that the public must make do with imperfect estimates based on incomplete information. Still, some organizations are better than others in this regard, so it is important to note that there is a Forbes estimate that Garipalli's net worth rose to at least $1 billion because of his company going public through the SPAC. However, it will be interesting to see where his net worth goes from there. As mentioned earlier, both Clover Health and CarePoint Health are under investigation by the authorities for various issues. On top of this, the fact that Clover Health failed to reveal the existence of this investigation resulted in another scandal because of outraged investors, which Clover Health leadership tried to hand-wave by claiming that it wasn't material. Depending on how things turn out in the future, it isn't hard to see why Garipalli's net worth could see significant changes in the times to come.
What Do We Know about Vivek Garipalli's Personal Life?
There isn't much information about Garipalli's personal life. However, there are some bits and scraps. For example, he seems to be married. Similarly, it has been said that Garipalli once had ambitions of becoming a doctor like his parents. Having said this, most of the interest in Garipalli is focused on his companies. In particular, there was a great deal of controversy about the rates that CarePoint Health charged for its services, not least because one of the hospitals in the hospital chain charged the highest prices in the whole of the United States. Something that caused the issue to be reported in national headlines. It has been some time since those national headlines. However, Clover Health is now receiving its own share of reporting for not so positive reasons.