(Bloomberg) -- Billionaire Peter Thiel, an early investor in Facebook Inc. 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 $11 million, leaving him with about $2 million 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.
Read more: Facebook Director Stock Sales Top $1 Billion as Lock-Up Ends
Shares of Menlo Park, California-based Facebook climbed 27% in the past year through Friday, making co-founder Mark Zuckerberg the world's fifth-richest person, with an $81 billion fortune, according to the Bloomberg Billionaires Index. Thiel, 52, has a net worth of $3.4 billion, including a stake in data analytics company Palantir Technologies Inc.
To contact the reporter on this story: Tom Metcalf in London at tmetcalf7@bloomberg.net
To contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Peter Eichenbaum, Steven Crabill
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
