Palantir CEO Alex Karp quietly bought 37,000 acres in Sweden for $22 million; locals found out only after hunters got an unexpected email

Alex Karp, CEO of Palantir Technologies, purchased 15,000 hectares (37,000 acres) of forest in Härjedalen, Sweden, for 235 million kronor ($22 million). But local hunters in Härjedalen, Sweden, were not aware about it. They did not receive an announcement as local authorities were not given any advance information about the transaction. The purchase from paper company SCA AB became public when local hunters received cancellation of their lease to hunt on the property, according to Tidningen Härjedalen.

Palantir cofounder and CEO Alex Karp is best known in the United States for his controversial $450 billion AI defense company. Swedish defense and police use services from Palatir, as does NATO. The purchase comes at a time when European leaders are considering reducing their reliance on U.S. technology.

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Palantir CEO quietly purchases 15,000 hectares of forest

According to a report in Tidningen Härjedalen, Karp has purchased 15,000 hectares (37,000 acres) of forest in Härjedalen, Sweden, and the sale was reportedly for 235 million kronor, or $22 million. The deal happened through his newly registered company Cladonia Skog AB, of which he is the beneficial owner. The chairman of Cladonia told the Swedish newspaper that the land provides valuable habitat for wildlife and space for recreation.

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The outlet spoke to hunters who received emails saying they could no longer lease the land for hunting of the quiet village of Storsjö Kapell, known for hiking and fishing. Svenska Cellulosa Aktiebolaget (SCA) the paper manufacturer that used to own the land confirmed it sold the property because it was not suitable for forestry.

“We grant hunting rights through lease agreements with a term of 11 months. This means that the agreements can be reviewed and renewed on a basis. As we have now sold the land in question we can of course no longer grant hunting rights on it as the land is no longer owned by us " SCA spokesperson Robert Östholm said in an email to Fortune.

How is Alex Karp linked to Sweden?

Karp already has ties to Sweden through Palantir, which has partnered with defense authorities Palantir’s Sweden country manager Anders Fridén confirmed earlier this year. Palantir expanded its software development operations in Europe a decade ago. However the EU’s continued use of the company’s services has raised concerns as Europe seeks to reduce its reliance on US technology and AI.

Cladonia told media that it would use the land to "carry out forestry and other related activities." Scandinavian Trust, which brokered the deal did not respond to Fortune’s request for comment. Has reiterated Cladonia’s intention to preserve the land.

“The new owner of the forest property is committed to the beauty of the land and its preservation " Jenny Lopes Da Silva, a Cladonia board member and sales manager at Scandinavian Trust said in a statement. "The vast natural forest landscapes offer habitats for plants and animals while also serving as a place for recreation and restoration.”

Why billionaires are investing in land in US

Buying land has become increasingly popular among the ultrawealthy. Farmland is now a $4.3 trillion asset class in the US according to Steve Bruere, president of agricultural real estate firm Peoples Company.

Land is a resource so its value can rise over time. This can make it a hedge against inflation and market volatility. US land prices rose 4.3% in 2025 averaging about $4,350 per acre according to US Department of Agriculture data.

The growth of carbon credits has also made forests and other agricultural land attractive to investors. Carbon credits can be traded to offset greenhouse gas emissions.

For some billionaires however owning amounts of land has also become a personal hobby. Meta CEO Mark Zuckerberg for example is raising Wagyu cattle on his ranch in Kauai, Hawaii. Reddit cofounder Alexis Ohanian has also operated a family farm in Jupiter, Florida for six years.

Karp has also bought land for purposes. He reportedly owns a 3,700-acre monastery compound, in Colorado’s Capitol Creek Valley. The property was purchased for $120 million according to the Wall Street Journal. The deal also included water rights to irrigate 1,500 acres of land.