Republican megadonor Peter Thiel is stepping down from Meta’s board of directors.
Meta, Facebook’s parent company, announced on Monday the PayPal co-founder’s departure, marking an end to a 17-year stint as a board member, according to a press release.
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“I’m deeply grateful for everything he has done for our company — from believing in us when few others would, to teaching me so many lessons about business, economics, and the world. Peter is truly an original thinker who you can bring your hardest problems and get unique suggestions,” said Meta CEO and founder Mark Zuckerberg.
Thiel is reportedly stepping down to focus on politically supporting former President Donald Trump’s 2022 election agenda and didn’t want his involvement to be a “distraction,” a source told Bloomberg. Thiel, who has been a vocal Trump supporter and spoke at the 2016 Republican National Convention, will support Blake Masters, J.D. Vance, and other political candidates who are supportive of Trump’s agenda.
The tech investor has already backed a super PAC supporting Masters, who is president of the Thiel Foundation and the principal at Thiel Capital, in his Senate run with $10 million from his personal fortune.
“Mark Zuckerberg’s intelligence, energy, and conscientiousness are tremendous. His talents will serve Meta well as he leads the company into a new era,” Thiel said in the press release.
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Thiel has been on Meta’s board since 2005 and was an early investor in the company. He will remain on the board until its annual meeting.
