Facebook’s Director Peter Thiel Sold Majority Of His Shares In Deal Planned Pre-IPO

Posted on Aug 21 2012 - 5:52am by Editorial Staff

PayPal co-founder and Facebook director Peter Thiel has sold his majority of shares, according to an SEC filing in a pre-arranged deal which was set before Facebook’s IPO, when the stock was at $38 and not on $20.

Thiel has sold 20.6 million Class A shares, which means that now he left with only 5.6 million shares, all of which as Class A. Thiel sold the shares at an average price of $19.73, which results in making him nearly $400 million from his original investment of $500,000.

Shares of Facebook finished Monday’s regular trading session at $20.01, down nearly 50 percent from their $38 offering price in May.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.