Billionaire tech investor Peter Thiel looks set to leave Meta board, report claims. The co-founder of PayPal is leaving the decision-making team of Facebook.
Peter Thiel Looks Set To Leave Meta Board
Peter Thiel which is one of the earliest investors in the social media company and has also been a board member of the company since 2005 is reported to be leaving the company’s board. On Monday, Meta confirmed that peter will not be standing for reelection at the 2022 annual meeting.
What Next for Thiel
Mark Zuckerberg who is the CEO of Meta said that Thiel, who co-founded PayPal back in 1998, will instead “devote his time to other interests.” Mark also added in a statement that “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.”
Who is Peter Thiel?
Thiel normally is a vocal supporter of Trump and he also reportedly argued in the favor of Facebook in allowing politicians to lie in political ads on the social media platform back in 2019.
He will however focus on helping Trump-aligned Republican candidates in the midterms this year as per the New York Times citing an anonymous source. On the matter, Meta declined to make any comment further.
In a statement, Thiel said “Mark Zuckerberg’s intelligence, energy, and conscientiousness are tremendous. His talents will serve Meta well as he leads the company into a new era,”
According to the wall street journal, Thiel had reportedly considered leaving the Facebook board back in 2018 due to political strains between him and another Facebook director. They then report also claimed that Thiel would be reducing his involvement in the tech industry because of his intolerant, left-leaning politics” and also moving to LA from Silicon Valley.
What Peter Thiel had to say
Thiel however has not responded to the news. And as you should know, last year, Facebook rebranded itself as Meta in a bid to establish itself as a leader in the metaverse which is seen by many as the next stage of the internet.