Venture Capital & Startup Industry News
Peter Thiel sells one-third
of his Facebook shares
Aug 1, 2017, 7:52pm PDT Updated Aug 1, 2017, 8:34pm PDT
Peter Thiel, Facebooks first big investor,
has sold more than $10 million worth of the company's shares
in the last week a significant chunk of his surprisingly
small remaining stake in the social network.
The billionaire Silicon Valley entrepreneur, who remains on
Facebook's board, sold 60,316 shares of his class A shares,
worth about $10.4 million, according to securities documents
filed July 28. Facebook stock was trading at $172.26 per share
at the time of the sell-off.
As of Facebook's most recent proxy statement in April, Thiel owned
220,718 Class A shares, worth about $38 million at the current
Thiel famously turning his initial $500,000 investment in Facebook
into a whopping $640 million windfall when he sold off 16.8
million shares at the time of the company's 2012 IPO.
He sold another 20 million shares later that year, netting
another $400 million. Four years later, in 2016, he sold $101
million worth of shares.
As of April, Facebook CEO and co-founder Mark Zuckerberg owned
2.63 million shares worth about $452.6 million at the current
WhatsApp co-founder Jan Koum owned about $5 billion
or 1.2 percent of Class A shares that he acquired in Facebook's
$19 billion purchase of his mobile messaging service.
The company's other major shareholders include venture capitalist
Marc Andreessen, Netflix CEO Reed Hastings and Facebook Chief
Operating Officer Sheryl Sandberg.
Jennifer Elias is a technology reporter for the Silicon Valley
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