Wednesday, November 22, 2017

Peter Thiel Sells 73% of His Remaining Stake in Facebook

Bailing out before a break?

Billionaire Peter Thiel, an early investor in Facebook Inc., sold 73 percent of his stake in the social-media company this week.

Thiel, a member of Facebook’s board, sold 160,805 shares for $29 million, according to a regulatory filing Tuesday.

The transactions are the latest in a series of sales in recent years that have left Thiel, 50, with 59,913 shares valued at $11 million.

Facebook shares have surged 58 percent this year through Tuesday.

(via Bloomberg)

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