S&P 500 companies spent $7 trillion on buybacks and dividends and ‘been rewarded’ by coronavirus bailouts, says Social Capital CEO
April 22, 2020 at 14:59 PM EDT
Chamath Palihapitiya, chief executive of venture-capital firm Social Capital LP, argued during an interview on CNBC’s “Fast Money Halftime Report” that stock repurchases by corporations are a bad use of funds and have left companies vulnerable to this current COVID-19 crisis.
