Michael Burry Sounds Alarm On Palantir, Flags CEO Alex Karp's 'Elevated' $17.2 Million Private Jet Tab

Jason Sargent Sunday, February 22, 2026

Rishabh MishraSun, February 22, 2026 at 6:00 PM UTC

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.

Stratospheric Spending

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…

— Cassandra Unchained (@michaeljburry) February 18, 2026

Running The Flight Numbers

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:

Mid-sized Jet ($7K/hr): Implies 2,457 flight hours, or roughly 28% of the entire year spent in the air.

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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Questions Of Governance

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.

This comes just days after Burry highlighted PLTR’s ongoing controversy involving the UK's National Health Service (NHS). Burry shared reports that the NHS is probing whether Palantir breached contract terms by allegedly hiring a digital marketing agency to solicit influencers to counter public criticism.

Beyond the ethical critiques, Burry’s financial thesis suggests a staggering decline for the stock. Sharing a technical analysis on Feb. 10, 2026, Burry identified a classic “Head & Shoulders” reversal pattern on the $PLTR chart.

He sees an ultimate “Landing Area” between $50 and $60 for the stock. With the stock recently trading around $135.38, a drop to the $60 mark would represent a 55.68% collapse.

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Michael Burry Sounds Alarm On Palantir, Flags CEO Alex Karp's 'Elevated' $17.2 Million Private Jet Tab

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