Co-founder and CEO of Clover Health, Vivek Garipalli, uses data analysis and preventive care to offer Medicare patients better insurance at lower costs. Before launching Clover Health in 2014, he started his career in finance, founded Ensemble Health Partners and CarePoint Health, and served as a board member and advisor to Flatiron Health from the organization’s inception.
Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States. The business offers preferred provider organization and health maintenance organization health plans for customers who qualify for Medicare through its Clover Assistant, a software platform. It also emphasizes non-insurance companies. Franklin, Tennessee-based Clover Health Investments, Corp. was established in 2014 and is incorporated.
What are Garipalli’s salary and net worth?
It appears that there is almost no information available regarding Garipalli’s payment for his services. Perhaps this shouldn’t surprise you since Clover Health went public in 2021. In relation to that, it’s interesting to note that Garipalli’s business chose not to go public.
Instead, it merged with a particular purpose acquisition company—also referred to as a SPAC—to go public. Although the technique mentioned above has been around for many years, it has recently gained popularity due to several well-known cases, including DraftKings, Nikola Motor, and Virgin Galactic.
Garipalli’s exact net worth is also a mystery to date. Since financial information is private, the general public is forced to rely on inaccurate estimates due to a lack of data. However, some businesses excel in this area more than others.
So, it’s significant to note that according to a Forbes estimate, Garipalli’s net worth increased by at least $1 billion due to his company going public via the SPAC. It will be interesting to see how his net worth develops from there, though. As previously mentioned, the authorities are looking into several matters involving Clover Health and CarePoint Health.
Additionally, investors were outraged by Clover Health’s failure to disclose the existence of this investigation, which led to another scandal, which Clover Health leadership attempted to brush aside by asserting that it wasn’t material. It is easy to understand why Garipalli’s net worth might undergo significant changes in the future, depending on how events play out.
Other ventures and collaborations
Before joining forces with a couple of friends at Flatiron Health, Vivek also co-founded Ensemble Health, a company that specializes in the revenue cycle for healthcare services. He served on the board of directors throughout Flatiron Health’s sale to Roche in 2018 and helped shape the company’s strategy and business model. In addition, as a board member of Doctor Evidence and Medically Home and an investor in numerous early-stage health tech businesses, Vivek is involved in the field of health technology.
His primary cause is assisting the homeless, and he contributes financially to The Bowery Mission in New York City and Newark, New Jersey. With positions at Credit Suisse First Boston, J.P. Morgan Partners, and Blackstone Group, Vivek started his career in finance.
The information available about Garipalli’s private life is minimum. There are some fragments, though. For instance, he appears to be wed. Also, like his parents, it has been claimed that Garipalli once dreamed of becoming a doctor.
Garipalli’s businesses are the main subject of attention. Notably, there was a great deal of debate surrounding the prices CarePoint Health charged for its services, partly because one of the chain’s hospitals had the most expensive fees in the country.
