Peter Thiel, American entrepreneur, challenge capitalist, and hedge fund supervisor.
Adam Jeffery | CNBC
Billionaire tech investor and PayPal Co-founder Peter Thiel will step down from board of Fb proprietor Meta, the corporate introduced Monday.
Thiel, an early Fb investor, won’t stand for re-election to the board on the corporate’s 2022 annual stockholders’ assembly. He is served at the board since 2005 and can proceed to take action till the yearly assembly, the corporate mentioned.
Thiel invested $500,000 in thefacebook.com in 2004, changing into the primary vital outdoor investor within the fast-growing social networking website online that used to be spreading round faculty campuses. A yr later Zuckerberg dropped the from the identify and made it Fb.
Previous to the Fb funding, Thiel made his preliminary fortune as co-founder of PayPal. He then moved into making an investment, first thru a hedge fund after which as a challenge capitalist.
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-CNBC’s Ari Levy contributed to this document.