The Beginning of the End for Facebook? PayPal Billionaire Who Was its First Investor Sells Most of His Shares Worth $1 BillionWednesday 22 August 2012
‘One of Facebook’s first investors has bailed out of the firm and sold 20 million shares.
PayPal billionaire Peter Thiel, one of Facebook’s earliest investors and a member of its board, was among the insiders selling stock in the social network after a lockup expired last week, it has emerged. As one of Facebook’s initial investors, he invested $500,000 in the company in 2004.’