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Peter Thiel will no longer seek re-election to the board of directors of Facebook Meta later this year, the state media said on Monday.
Thiel, a billionaire economist who is a key supporter in Silicon Valley of former President Donald Trump, took the decision to look “politically” and “to prevent this from becoming a nuisance on Facebook,” said one source. .
Thiel wants to look to his support for Republicans who support Trump’s policies, such as Blake Masters and JD Vance, who are seeking re-election to the Senate in the November 2022 general election, he said. He informed Facebook of the election on Monday, the man said.
“It was a great privilege to work with one of the best-known businessmen of our time. Mark Zuckerberg’s intelligence, energy, and conscience are excellent, “Thiel said in a statement.
Thiel, 54, was the first to sell outside Facebook, and has been on board since 2005. more than $ 1bn by selling its shares.
But Thiel’s presence on the Facebook board has been seen as controversial by some because of his political affiliation – especially since the company has been criticized for its political and counterfeit policies. Republicans have been criticized for cracking down on rhetoric, while Democrats argue it is not enough police.
According to a reports from the Wall Street Journal, Thiel helped promote divisions on the Facebook board after persuading Zuckerberg, a senior official, to continue his political campaign, regardless of the results, before the 2020 election. Zuckerberg refused to be pressured by the public to see political advertising but in the end imposed a temporary ban on the political business surrounding the election in order to reduce the spread of lies.
Private, Thiel facing each other last month following a report that the Founders Fund, another financial institution he had set up, had invested in a company that claimed to have devised a way to evade WhatsApp’s Meta messaging app.
Thiel in 2016 donated more than $ 1mn to pro-Trump factions and has been supporting the Republican Party in 2021, donating nearly $ 86,000 to the National Republican Congress Committee and Republican leadership committees.
He has also recently been a major supplier of new, small-scale free-range individuals, some of whom are part of his venture capital network.
These include the Masters, who also run Thiel’s multi-billion dollar technology firm, Thiel Capital, and its non-profit Thiel Foundation, and are now running for the US Senate seat in Arizona. Last year Thiel donated $ 10mn to a Masters political support committee, plus $ 5,800 directly to his campaign.
Thiel also donated $ 10mn to Vance’s support committee, writer and capitalist, for his Senate race in Ohio, and $ 3,000 directly to Vance’s campaign. Vance worked as head coach of Mithril Capital, another financial group founded by Thiel.
Thiel-backed committees were not intimidated by the brutal campaign tactics. Last September the Saving Arizona committee launched its first television commercial, to the delight of Republican Attorney Mark Brnovich, for confirming Joe Biden’s success in government in 2020.
Additional reports by Caitlin Gilbert in New York
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