PayPal Founder Peter Thiel Leaves Facebook’s Meta Board

• Venture capitalist Peter Thiel is set to leave Facebook parent company Meta’s board, the firm announced on Monday

• The billionaire who was Facebook’s first outside investor, joined the tech company’s board in 2005 after making a major investment

• Asides from Facebook, Thiel is known as the founder of payment company PayPal and an investor in companies such as Airbnb, Affirm, Stripe, and SpaceX

Paypal Co-founder Peter Thiel is stepping down from his role on the board of Facebook’s parent company, Meta after 17 years.

Thiel who is Meta’s longest-serving board member joined the board after becoming the company’s first major outside investor in 2005.
Although the didn’t specifically reveal his plans. Media reports circulating indicate that the billionaire plans to focus his time and resources on backing Donald Trump’s allies in midterm elections this November.

Thiel gave indications of what is to come when he donated $10 million each to the Senate campaigns of Blake Masters and JD Vance, who are running for seats in Arizona and Ohio respectively.
Peter Thiel was one of the most controversial figures on Facebook’s 10-person board and was one of the few major tech figures to have supported Donald Trump.

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During the previous election in 2020, Thiel donated millions of dollars to Trump’s campaign and served on the transition team of the former United States president.

Critics regarded him as the person pulling the strings that prevented Facebook from taking down Trump’s post even when it violated its community standards.
Meta CEO Mark Zuckerberg issued a statement, bidding Thiel goodbye and thanking him for his contribution to the company.

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