Peter Thiel set to leave Facebook’s Meta board

Post created on 9:13 am

Peter Thiel is set to leave Facebook parent Meta’s board after a tenure that saw the rise of the network and his vocal support of Donald Trump.

With this announcement, Wall Street Journal and New York Times reported that he would focus on aiding Republican candidates backing ex-president Donald Trump’s agenda in the midterm elections.

Facebook founder Mark in a statement said “Thiel has served on our board for almost two decades, and we’ve always known that at some point he would devote his time to other interests,”

He was Facebook’s first outside investor, with a stake that made him hundreds of millions of dollars, joining the nascent giant’s board in 2005.

Mark Zuckerberg’s intelligence, energy, and conscientiousness are tremendous. His talents will serve Meta well as he leads the company into a new era,” Thiel said in the announcement.

Thiel built his wealth through the online payments company PayPal, founded in 1998, and invested in Airbnb, Affirm, Stripe and SpaceX, among others.