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Steve and Connie Ballmer are splitting their $8 billion philanthropy into three so the people closest to the work can decide how the money is spent

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1

Steve and Connie Ballmer are splitting their $8 billion philanthropy into three so the people closest to the work can decide how the money is spent

2

U.S. Treasury is paying $3 billion a day in interest on national debt, says the CBO—having spent $10 billion to prop up the currency of its top lender

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Google cofounder Sergey Brin has now spent $100 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses
TechFounders Fund

Peter Thiel Has Largely Sold All of His Facebook Stock

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
August 27, 2019, 12:58 PM ET
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Peter Thiel’s Founder’s Fund, one of Facebook’s earliest backers, has sold off its remaining shares in the social network.

The action, revealed in a regulatory filing late Monday, leaves the PayPal founder with just 63,550 independently held shares of Class A Facebook stock. That’s just 0.1% of the 44.7 million shares he held in the company when it went public in 2012.

The most recent sale, which occurred last week, brought in $4 million. Thiel certainly made quite a profit from its initial investment in Facebook, though. He sold 16.8 million shares when Facebook went public in 2012, pocketing roughly $640 million. Later that year, he sold another 20 million shares for $400 million.

Thiel was one of the first investors in Facebook, giving Mark Zuckerberg $500,000 in mid-2004. He chipped in another $12.7 million (with Accel Partners) in May 2005 and was part of a $27.5 million round in April 2006.

He remains on the Facebook board, despite some calls for his removal due to his support for Donald Trump.

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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