More On: Peter Thiel
How Peter Thiel and Elon Musk came dangerously close to death in a vehicle accident in 2000?
Paypal Co-Founder Peter Thiel claims that his 'worst mistake of the decade' was investing in Bitcoin 'too late and too little'
Peter Thiel is stepping down from the Meta board and will allegedly focus on pro-Trump lobbying
Peter Thiel’s Palantir reveals $580 million losses in bid to go public
Facebook CEO Mark Zuckerberg lobbied against TikTok in Washington
Conservative tech tycoon Peter Thiel is stepping down from the board of Meta, the parent company of Facebook and Instagram, after almost two decades on the job, the business announced on Monday.
The co-founder of PayPal and Palantir plans to quit Meta after its annual meeting in May, according to a press statement from Meta.
According to Bloomberg and The Wall Street Journal, Thiel is stepping aside to focus on furthering his pro-Trump political agenda in the 2022 election season.
The software pioneer, who is worth an estimated $2.6 billion, became Facebook's first outside investor in 2004 and joined the company's board of directors in 2005. Some Facebook employees were irritated by his support for Trump during the 2016 Republican National Convention.
In the press release confirming Thiel’s exit, Mark Zuckerberg lavished praise on the conservative mogul.
“Peter has been a valuable member of our board and I’m deeply grateful for everything he has done for our company,” Zuckerberg said. “Peter is truly an original thinker who you can bring your hardest problems and get unique suggestions.”
Thiel likewise praised Zuckerberg for his “intelligence, energy, and conscientiousness.”
“His talents will serve Meta well as he leads the company into a new era,” Thiel said
Thiel is now reportedly expected to focus more of his time on conservative political causes, including senate bids by two of his proteges, Blake Masters and JD Vance, according to the WSJ report.
Masters and Vance are the Republican senatorial candidates in Arizona and Ohio, respectively. Thiel has spent millions of dollars promoting both candidates' candidacies and has hosted fundraising dinners for both.
"He believes the Republican Party can promote Trump's program, and he wants to do all he can to help," a person close to Thiel told Bloomberg. "His primary focus will be on assisting Blake Masters, JD Vance, and others who support Trump's agenda."
Jeremiah Hall, a spokesperson for Thiel, did not immediately reply to a request for comment.
