Peter Thiel considered leaving Facebook's board

Saul Franklin
February 16, 2018

In a debate with Hastings at Stanford University last month, Thiel elaborated on his views.

Thiel - whose net worth is $2.5 billion, according to Forbes - also has discussed with people close to him the possibility of resigning from Facebook's board.

Since Trump took office, Thiel has become increasingly disappointed with the liberal politics in San Francisco and Silicon Valley, the Journal reported.

Billionaire Peter Thiel, one of the most powerful men in Silicon Valley and its most prominent conservative, plans to move his home and personal investment firm to Los Angeles because he's disaffected with what he sees as the left-leaning politics of the San Francisco Bay Area, a person familiar with his plans said Thursday. But in public, Facebook co-founder and CEO Mark Zuckerberg defended Thiel and said it was important to have "ideological diversity" on the Menlo Park company's board.

Grandparents Love Facebook, Teens Not So Much
This year, less than half of Americans between the ages of 12 and 17 will log on to Facebook even once during any given month. That being said , the site's overall activity continues to grow due to the older people in the Facebook community.

The billionaire investor is expected to stay on the board in the near term, while investment firms Thiel Capital and Thiel Foundation will relocate to Los Angeles later this year, according to the report.

Thiel has also gained notoriety for quietly financing pro-wrestler Hulk Hogan's invasion of privacy lawsuit against Gawker Media.

Fellow Facebook board member Reed Hastings, CEO of Netflix, in a 2016 email called Thiel's support of Trump "mystifying" and "catastrophically bad judgment" and questioned whether he should remain on Facebook's board, the New York Times reported past year. "That's when you get in trouble politically in our society, when". He founded Palantir in 2003, and invested the paltry sum of $500,000 for a 10.2 percent stake in Facebook in 2004. He donated $1.25 million to Mr Trump's campaign in 2015 before serving as an adviser on the new president's transition team.

Silicon Valley companies and tech workers overwhelmingly supported Democrat Hillary Clinton in the 2016 election.

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