16 February, 2018
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.
Billionaire Peter Thiel, one of the most powerful men in Silicon Valley and its most prominent conservative, plans to move his home and personal investment firm to Los Angeles because he's disaffected with what he sees as the left-leaning politics of the San Francisco Bay Area, a person familiar with his plans said Thursday.
Thiel's political leanings came under fire from many in Silicon Valley following the U.S. presidential election, due to his open support for President Trump. Founders Fund and Mithril Capital, which he co-founded, will stay in San Francisco.
The Journal reports that Thiel Foundation and Thiel Capital will move to L.A., where Thiel also is said to be planning to start a new media venture.
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Thiel, who counts himself among Facebook's earliest investors, has seen his relationship with Facebook and its CEO Mark Zuckerberg become strained following his open support of President Donald Trump, sources told The Journal.
This past November, Thiel sold three-quarters of his remaining stake in Facebook as part of a previously established trading plan.
More recently, Thiel has showed disappoints to Bay Area tech industry, accusing Silicon Valley of becoming increasingly intolerant of conservative political views.
The filing said he had sold another 160,805 shares for about $29 million, leaving his holdings at 59,913 Class A shares in the company. "That's when you get in trouble politically in our society, when".