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Billionaire Trump supporter Peter Thiel leaving Silicon Valley
15 February 2018, 08:29 | Edward Lowe
President Trump and Peter Thiel in December
Peter Thiel, the well-known investor who cofounded data-analysis firm Palantir Technologies and who bankrolled the lawsuit that ultimately drove Gawker out of business, has decided that he has had enough of Silicon Valley.
He'd not only be moving house into a Los Angeles property he bought six years ago; he'd also move Thiel Capital and Thiel Foundation south as well.
Facebook did not respond to a request for comment. Chief Executive and co-founder Mark Zuckerberg has said he should stay, citing the importance of diversity of opinion at the company, Reuters has reported. The billionaire venture capitalist was the first outside investor in the $516 billion social network.
That action, if it occurs at all, does not appear to be imminent, but Thiel did sell 73% of his remaining stake in Facebook in November, pocketing nearly $30 million. He founded Palantir in 2003, and invested the paltry sum of $500,000 for a 10.2 percent stake in Facebook in 2004.
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Later the same year, he sold roughly 20 million of his remaining 26 million shares for $400million after the expiry of a lockup. During a debate at Stanford University last month he described Silicon Valley as "a one-party state" and said, "That's when you get in trouble politically in our society, when you're all in one side".
Silicon Valley companies and tech workers overwhelmingly supported Democrat Hillary Clinton in the 2016 election.
Thiel rose to political prominence in 2016 when he donated $1.25 million to the Trump campaign and spoke at the Republican National Convention.
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