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Peter Thiel Sells 73% of His Remaining Stake in Facebook

Bloomberg business news
Bloomberg’s Tom Metcalf reports on billionaire Peter Thiel’s decision to sell 73 of his stake in Facebook Inc.(Source: Bloomberg)

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.