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Who's getting rich on SPACs

Brian Ach/Getty Images; Tomohiro Ohsumi/Getty Images; Axelle/Bauer-Griffin/FilmMagic; and Melia Russell/Insider
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It s a boom time for SPACs, which provide startups a way to go public without the IPO rigmarole.
Retail investors see SPACs as a chance to get in early on the next Apple or Google.
The big winners are CEOs and celebrities who get a payday mostly for lending their names to SPACs.
A debate is raging on Wall Street and Main Street about SPACs, the financial-engineering flavor of the moment. Depending on whom you ask, these so-called blank-check companies funds raised for the sole purpose of buying a company and taking it public are either the latest get-rich-quick scheme for financial charlatans or the greatest innovation in capital markets in years. ....

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SPACs are the hot new way for startups to go public - and a booming 'side hustle' for people with star status

SPACs are the hot new way for startups to go public - and a booming side hustle for people with star status
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Chamath Palihapitiya, SoftBank s Masayoshi Son, and Richard Branson have all dived into the SPAC frenzy. Brian Ach/Getty Images; Tomohiro Ohsumi/Getty Images; Axelle/Bauer-Griffin/FilmMagic; and Melia Russell/Insider
It s a boom time for SPACs special purpose acquisition companies that provide an easy way for startups to go public without the rigmarole of an IPO.
Retail investors are flocking to SPACs, seeing them as a chance to get in early on the next Apple or Google; ....

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