SPAC Kingpin Michael Klein Is Still Winning, Despite Stock Swoon

The $11 billion MultiPlan SPAC has nicked investors, but its founders remain in the black.

Michael Klein. (Andrew Harrer/Bloomberg)

Michael Klein.

(Andrew Harrer/Bloomberg)

The largest-ever blank-check company merger has so far turned into a loser for investors — but its founder, former Citigroup banker Michael Klein, and the other members of the team that orchestrated the deal have already made hundreds of millions of dollars in founder shares and banking fees.


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