Billionaire Peter Thiel, an early investor in Facebook who once controlled 45 million shares of the social-media giant, unloaded most of his remaining stake last week.
Thiel, a member of Facebook’s board, sold 53,602 shares held by his Rivendell One LLC for $11m, leaving him with about $2m of stock, according to a regulatory filing Friday.
The transactions are the latest in a series of sales in recent years that have left Thiel with just 9,948 directly held shares. He sold most of his stake in 2012.
Shares of Menlo Park, California-based Facebook climbed 27 per cent in the past year through Friday, making co-founder Mark Zuckerberg the world’s fifth-richest person, with an $81bn fortune, according to the Bloomberg Billionaires Index.
Thiel, 52, has a net worth of $3.4bn, including a stake in data analytics company Palantir Technologies Inc.
