Minneapolis campaigners press Swiss National Bank to dump Palantir investment
Minneapolis campaigners urged the Swiss National Bank to sell its $1.1 billion stake in Palantir Technologies due to its involvement in U.S. immigration enforcement operations. The SNB held 6.24 million Palantir shares at the end of 2023 as part of its foreign currency investments.
The Swiss National Bank should sell its $1.1 billion stake in Palantir Technologies, campaigners from Minneapolis said at a meeting of the central bank. The SNB held 6.24 million Palantir shares at the end of 2023 as part of its $922 billion foreign currency investments. Palantir won a contract with U.S. Immigration and Customs Enforcement to develop surveillance systems, sparking scrutiny. A delegation from Minneapolis presented the city council's request to sever ties to Palantir over its links to ICE and surveillance activities. The SNB declined to comment on individual assets but has guidelines against investing in companies that breach human rights. Other large investors have sold their Palantir stakes over the company's work.
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