Peter Thiel Sells 73% of His Remaining Stake in Facebook

Bloomberg’s Tom Metcalf reports on billionaire Peter Thiel’s decision to sell 73 of his stake in Facebook Inc.

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 as of 11:21 a.m. in New York.

Facebook shares have surged 58 percent this year through Tuesday, adding $25 billion to co-founder Mark Zuckerberg’s fortune and making him the world’s fourth-richest person with $74.9 billion. Thiel has a net worth of $3.2 billion, including a stake in data analytics company Palantir Technologies Inc., according to the Bloomberg Billionaires Index.

— With assistance by Sarah Frier

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