Facebook’s First Big Investor Sells 75% Of Its Stake In The Company

Facebook’s first major investor, Peter Thiel, has sold 75% of its remaining stake in the social network, according to documents sent to the market regulator.

Peter Thiel
Image Courtesy: CNBC

How Many Shares Of Facebook Did Thiel Sell?

Thiel, who is a member of the Facebook board, had already sold more than $ 1 billion in shares before sending the statement to the market on Tuesday (21).

He said, he sold another 160,805 shares for about $29 million. With holdings in 59,913 Class A shares of the company.

Business Career In A Glance

Thiel co-founded the PayPal payment service. After that he became a Facebook investor in 2004 with an initial contribution of $500,000, which led the company to have a market value valued at $5 million.

Peter Thiel Is A Big Fan Of American President Mr. Donald Trump:

Peter Thiel
Image Courtesy: Vanity Fair

Peter Theil was the only big name in Silicon Valley to support President Donald Trump. So some have asked for his removal from the Facebook board. Chief executive and co-founder Mark Zuckerberg, however, said that Thiel should stay, citing the importance of diversity of opinion in the company.

A representative of Facebook called the sales of Peter Thiel routine. And said there is nothing new to comment on the investor seat on the board of the company.

Related:  Facebook's New Face Recognition Opt-Out Guide

Recent Articles

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Copyright © 2017 - 2023 TechBlogUp.com . All rights reserved.