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Principale » Thiel sells bulk of remaining holdings in Facebook

Thiel sells bulk of remaining holdings in Facebook

23 Novembre 2017

According to Reuters, Thiel, who was Facebook's first major investor, "has sold three-quarters of his remaining stake in the social network as part of a previously established trading plan, a regulatory filing showed".

Thiel now owns 59,913 Class A shares of Facebook after he sold 160,805 shares on November 20, according to an SEC filing Tuesday.

Thiel has been the tech industry's biggest booster of Donald Trump, having donated $1.25 million to Trump's presidential campaign and organized a meeting of tech CEOs with Trump last December. Chief Executive and co-founder Mark Zuckerberg has said he should stay, citing the importance of diversity of opinion at the company. Facebook called his recent sales "routine".

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Representatives for the venture capitalist could not immediately be reached for comment.

This week, it was also reported that Thiel is looking to purchase the remains of Gawker.com, which he helped destroy after funding former professional wrestler Hulk Hogan's lawsuit against the company. He became a Facebook investor in 2004 with an initial investment of $500,000 at a $5 million valuation.

He had hit the market again a year ago to sell a little under 1M shares for about $100M. Facebook shares were down 0.7 percent at $180.59 on Wednesday.

Thiel sells bulk of remaining holdings in Facebook