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PayPal co-founder Peter Thiel steps down from Facebook board

An early investor in Facebook, Meta has announced that Thiel will step down from the board.

Donovan Erskine

February 7, 2022 2:45 PM

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With as big of a company it’s grown to be, Facebook has a board of established businessmen and businesswomen that help make decisions on behalf of shareholders. One longtime member of that board is PayPal co-founder Peter Thiel, who was an early investor in the social media company. Now, Thiel will soon retire from his position on the Facebook board, Meta has announced.

Facebook owner Meta announced that Peter Thiel will be stepping down from Facebook’s board in a news release on February 7, 2022. Thiel originally joined the company’s board all the way back in 2005 and has served on it since. Before that, he invested $500,000 into the company back in 2004. Thiel would have been up for re-election at this year’s shareholder meeting. Meta CEO Mark Zuckerberg provided a statement on Thiel’s departure.

In speaking of his time at Facebook, Peter Thiel said that "It has been a privilege to work with one of the great entrepreneurs of our time. Mark Zuckerberg's intelligence, energy, and conscientiousness are tremendous. His talents will serve Meta well as he leads the company into a new era." For more on the business moves of Facebook, stick with us here on Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_