Peter Thiel Dumps Facebook Shares as Silicon Valley Boycott Intensifies


Peter Thiel has sold three-quarters of the Facebook shares he picked as Mark Zuckerberg’s first venture capitalist, even as the Silicon Valley boycott against him intensifies.

Thiel already had a big week by cutting ties with the Y Combinator investor fund. He then sold 160,805 shares of Facebook stock for about $29 million, cutting the last of his holdings to 59,913 Class A shares.

Thiel turned $500,000 in July 2004 into over $1 billion by investing in a rudimentary social networking company started by Harvard drop-outs Mark Zuckerberg, Dustin Moskovitz, Chris Hughes and Eduardo Saverin that later became known as Facebook, Inc.

Lately, Breitbart News has noted that Thiel has been the target of a concerted Silicon Valley effort, led by Ellen Pao and her “Project Include,” in retaliation for his speech at the 2016 Republican National Convention and his unforgivable sin of making a $1.25 million campaign contribution to Donald Trump’s presidential campaign.

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