Stock News :Peter Thiel sold his 73% of his stake in Facebook
Billlionare Peter Thiel, an early speculator in Facebook Inc., sold 73 percent of his stake in the web-based social networking organization this week. Thiel, a member of Facebook's board, sold 160,805 offers for $29 million, as per an administrative recording Tuesday.
The exchanges are the most recent in a progression of offers as of late that have left Thiel, 50, with 59,913 offers esteemed at $11 million starting at 11:21 a.m. in New York.
Facebook shares have surged 58 percent this year through Tuesday, adding $25 billion to fellow benefactor Mark Zuckerberg's fortune and making him the world's fourth-wealthiest individual with $74.9 billion. Thiel has a total assets of $3.2 billion, incorporating a stake in information examination organization Palantir Technologies Inc., as per the Bloomberg Billionaires Index.