Palantir’s Plunge Drags Down Mega-Donor Peter Thiel’s Wealth
- Slump in share price has erased $270 million from his stake
- Thiel’s fortune has fallen 19% this year to $7.4 billion
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The tech sector meltdown is chipping away at the fortune of Peter Thiel.
Palantir Technologies Inc., Thiel’s single-biggest equity position, plummeted as much as 23% Monday after it reported widening losses and tepid revenue growth. The slump erased about $270 million from the value of Thiel’s stake. So far this year he’s shed 19% of his net worth, now valued at $7.4 billion, according to the Bloomberg Billionaires Index.