Thiel exiting Meta Platforms board, will reportedly focus on Trump politics work
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Investor Peter Thiel is exiting the board at Meta Platforms (NASDAQ:FB) to focus on politics.
Thiel won't stand for reelection to the board at the 2022 annual meeting, the company says; he's been on Facebook's board since April 2005. He's also co-founder and chairman of Palantir Technologies (NYSE:PLTR).
"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," Meta CEO Mark Zuckerberg says. "Peter is truly an original thinker who you can bring your hardest problems and get unique suggestions."
Thiel plans to increase work on behalf of former President Donald Trump's agenda and doesn't want to be a "distraction," Bloomberg reports.
Updated 4:21 p.m.: Meta stock is down 0.3% after hours - adding a bit onto a regular-session decline that came to -5.1%.
Thiel was also among a number of conservative political activists raising money last year for Toronto-based Rumble (in the news today for trying to draw Joe Rogan from Spotify), a video site that looked to respond to Trump's removal from major social media platforms.