FILE PHOTO: a PayPal co-founder and Facebook board member Peter Thiel delivers a speech at the U.S. presidential election at the National Press Club in Washington, d.c., USA, October 31, 2016. REUTERS/Gary Cameron
(Ap) – with the Start of Facebook Inc’s (FB.D) backer, co-founder of the Fund, has sold all of the shares in the social-media giant as part of a previously established trading plan, the venture-capital firms, as partner, and Peter Thiel, according to a regulatory filing late on Monday.
The filing showed Thiel, a member of the executive on Facebook, now holds just 63,550 Class A common stock independently of each other, and by any other fund, on the disposal of an interest in the amount of $4 million in the previous week, including the shares that he indirectly held by the Founders of the company.
That leaves the former PayPal CEO, and with a little more than 0.1 per cent of the 44.7 million shares that he owns in the company to the public in 2012.
The representatives of the co-Founders of the Fund, and van Thiel does not immediately respond to requests for comment.
Started with $50 million in 2005 by Thiel, Ken Howery, Luke Nosek — all of the co-founders of PayPal and Napster co-founder Sean Parker, the founder of the Fund, has invested in companies like SpaceX and Airbnb in their early stages.
Thiel sold 16.8 million of his own shares in Facebook’s 2012 initial public offering for about $640 million. Later in the same year, he sold around 20-million to $400 million, after the expiration of the lock-up.
The billionaire is well known for its funding of the Hulk Hogan lawsuit, which led to the shutdown of the online news site Gawker. He also became a Facebook investor in 2004, with an initial investment of $500,000 to $5 million valuation.
The only major Silicon Valley has the name to back the President, Donald Trump, some people have referred to as for Thiel, it is the removal of Facebook’s board of directors. The Chief Executive Officer and co-founder Mark Zuckerberg has said that he will continue to be, having regard to the interests of a wide diversity of opinion on the company’s business.
Reporting Munsif Vengattil and Sittrarasu in Bengaluru; Editing by Patrick Graham