SPACs: New Wall Street investment craze is attracting celebrities like Serena Williams and Jay-Z

spacs:-new-wall-street-investment-craze-is-attracting-celebrities-like-serena-williams-and-jay-z

A special purpose acquisition company (SPAC) is like a fast track for startups to get in the stock market and make money as a public company.

A special purpose acquisition company (SPAC) is like a fast track for startups to get in the stock market and make money as a public company.
Image by StockSnap from Pixabay

Special purpose acquisition companies (SPACs) have taken over Wall Street and Silicon Valley. It works like a fast track for startups to get in the stock market and get all the money that comes with being a public company. Now celebrities like tennis star Serena Williams, musician Jay-Z, and former House Speaker Paul Ryan are creating their own SPACs.

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