Founder's Fund sells remaining shares, leaving him with just a moderate personal holding.
Peter Thiel’s Founder’s Fund, one of Facebook’s earliest backers, has sold off its remaining shares in the social network.
The action, revealed in a regulatory filing late Monday, leaves the PayPal founder with just 63,550 independently held shares of Class A Facebook stock. That’s just 0.1% of the 44.7 million shares he held in the company when it went public in 2012.
The most recent sale, which occurred last week, brought in $4 million. Thiel certainly made quite a profit from its initial investment in Facebook, though. He sold 16.8 million shares when Facebook went public in 2012, pocketing roughly $640 million. Later that year, he sold another 20 million shares for $400 million.
Thiel was one of the first investors in Facebook, giving Mark Zuckerberg $500,000 in mid-2004. He chipped in another $12.7 million (with Accel Partners) in May 2005 and was part of a $27.5 million round in April 2006.
He remains on the Facebook board, despite some calls for his removal due to his support for Donald Trump.
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