Business
The first outside investor, a board seat for 17 years, and a $1 billion exit
RECORD / AT A GLANCE
Company and SEC records
Documented. It is the investment that made his reputation as a venture capitalist.
THE EVENTS / THE INVESTIGATION / THE STORY
2004
$500,000 for about 10 percent.
Apr 2005
He joins Facebook’s board.
May 2012
He sells more than $640 million worth of shares in the offering.
Aug 2012
He sells 20.1 million shares for $395.8 million at an average $19.73.
Oct 2016
Zuckerberg says Facebook cares about diversity, including political diversity.
7 Feb 2022
Meta says he will not stand for re-election.
READ THE FILE
The numbers from filings.
Why Zuckerberg kept a Trump donor on the board.
Open an article for its evidence, labeled AI assessment and numbered sources. Read the complete static edition ↗
WHAT PEOPLE SAY ABOUT THIS FILE
6 claims people make about this file, each rated documented, partly true, disputed, unproven or false. Think a rating is wrong? Use Dispute or Support, or join the Discussion.
He put in $500,000 in 2004 for about 10 percent.
Who says it: BBC, Forbes.
The BBC reported he sold more than $640 million at the IPO and later sold 20.1 million shares for $395.8 million.
Who says it: BBC.
Zuckerberg wrote that excluding someone for backing a candidate would be wrong.
Who says it: The Verge, The Guardian.
Meta announced in February 2022 that he would retire from its board.
Who says it: Meta.
By August 2012 he had sold about 80 percent, for an average of $19.73 a share in that sale against a $38 IPO price.
Who says it: BBC.
No record shows him directing Facebook decisions on elections.
Who says it: Critics.
OPEN THE RECORD
Numbered citations in each article identify the relevant sources. These records have different purposes and evidentiary weight.
Reports his $500,000 investment in 2004 for about 10%, and the August 2012 sale of 20.1 million shares for $395.8 million, from SEC filings.
Detail from the Form 4: shares sold by him and Founders Fund, and Zuckerberg’s description of his advice.
Company announcement; he had been a director since April 2005.
The memo’s text on keeping a Trump supporter on the board.
Second report on the memo, with the reaction.
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The numbers from filings.
The BBC, from SEC filings, reports that Thiel owned about 10 percent of Facebook thanks to a $500,000 investment in 2004. He sold more than $640 million of stock in the May 2012 offering and, when the first lock-up ended in August 2012, sold 20.1 million more shares for $395.8 million, an average of $19.73, well below the $38 offering price. [1][2]
Meta says he joined the board in April 2005. Zuckerberg thanked him in 2022 for “believing in us when few others would.” [3]
What we can’t tell you. Exact lifetime gains are not public; Founders Fund and other vehicles also held shares.
Reports his $500,000 investment in 2004 for about 10%, and the August 2012 sale of 20.1 million shares for $395.8 million, from SEC filings.
Detail from the Form 4: shares sold by him and Founders Fund, and Zuckerberg’s description of his advice.
Company announcement; he had been a director since April 2005.
Why Zuckerberg kept a Trump donor on the board.
After Thiel pledged $1.25 million to support Trump, some Facebook employees asked why he was still on the board. Zuckerberg wrote internally that “we can’t create a culture that says it cares about diversity and then excludes almost half the country because they back a political candidate.” [1][2]
What we can’t tell you. Board deliberations are private.
The memo’s text on keeping a Trump supporter on the board.
Second report on the memo, with the reaction.
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