Peter Thiel is stepping down from the Meta board of directors, more than 16 years after being one of Facebook’s first investors. Mark Zuckerberg stated that “we’ve always known that at some point he would devote his time to other interests.”
“Peter has been a valuable member of our board and I’m deeply grateful for everything he has done for our company — from believing in us when few others would, to teaching me so many lessons about business, economics, and the world,” said Zuckerberg in a statement. “Peter is truly an original thinker who you can bring your hardest problems and get unique suggestions.”
Thiel has been advising Zuckerberg since the company’s inception. After investing $500,000 in the budding social network, he joined the board of the social media firm in 2005. He dubbed Zuckerberg “one of the great entrepreneurs of our time.”
The billionaire is also one of Meta’s most controversial board members. After co-founding PayPal, he founded Palantir Technologies, a shadowy data mining and analytics firm that works with a variety of government organizations. Founders Fund, Thiel’s venture capital business, was also a backer of Oculus creator Palmer Luckey’s virtual border wall project. He also contributed to the multimillion-dollar dispute that ended in Gawker Media’s bankruptcy in 2016.
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