Hedge fund Hunk Thiel Sold 20.06 Million FB Shares For $395.8 M

//Hedge fund Hunk Thiel Sold 20.06 Million FB Shares For $395.8 M

Hedge fund Hunk Thiel Sold 20.06 Million FB Shares For $395.8 M

While Zuckenberg ‘s been chilling on West Side Hedge fund Hunk Thiel Sold 20.06 Million FB Shares For $395.8 Million last week.

Securities and Exchange Commission filings  show that Peter Thiel sold 20.06 million shares of Facebook for an average of about $20 a share, netting $395.8 million.

According to the filing, Peter Thiel sold 20,058,068 shares at prices ranging on average from $19.27 to $20.69 on August 16 and 17. The sales were made through various Founders Funds, along with Rivendell One and Lembas funds. The grand total was $395,806,818.97.

Hedge fund manager and co-founder of PayPal, was the first outside investor in Facebook, buying a more than 10% stake in 2004 for half a million dollars. He currently serves as an independent director on Facebook’s board.

The sale represented the majority of his stake; he retains ownership of just under 5.6 million shares. The filing reports that the sale was planned before the social network’s IPO. Since the company’s May 18 debut, Thiel has netted more than $1 billion through stock sales.

Read More: Barrons

2012-08-23T18:37:36+00:00

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