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August 21, 2012 01:45 am GMT
PayPal co-founder and famed investor Peter Thiel has sold the majority of his shares in Facebook, according to an SEC filing.Thiel has sold 20.6 million Class A shares, leaving him with only 5.6 million shares, all of which are Class A.As Bloomberg reported last week, Thiel converted 9 million Class B shares (which have greater voting rights, but are more difficult to trade publicly) to Class A shares before Facebook's post-IPO lock expired, signaling that he could be moving some of his shares.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YjoqeQjy6vY/
Peter Thiel Sells Majority Of His Facebook Shares
PayPal co-founder and famed investor Peter Thiel has sold the majority of his shares in Facebook, according to an SEC filing.Thiel has sold 20.6 million Class A shares, leaving him with only 5.6 million shares, all of which are Class A.As Bloomberg reported last week, Thiel converted 9 million Class B shares (which have greater voting rights, but are more difficult to trade publicly) to Class A shares before Facebook's post-IPO lock expired, signaling that he could be moving some of his shares.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YjoqeQjy6vY/
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