Peter Thiel, an early Facebook investor, and PayPal co-founder is planning to step down from the board of Meta. According to the New York Times, he aims to help Donald Trump’s allies in the November midterm elections in the U.S.
Joining the board in 2005, after 17 years, Thiel became one of the longest-serving board members of Meta, previously Facebook.
The company stated he will remain on the board until the annual meeting, but will not take part in the re-election at the company’s 2022 annual stockholders meeting in May. Thiel is known for supporting Donald Trump’s 2016 presidential run. He donated $1.25 million to his campaign to pursue the former president’s political agenda during the 2022 midterm elections. Thiel invested $500,000 in capital $500,000 in Facebook in 2004.
