1. Like

    Thiel Sells Facebook Shares

    Clarium Capital President Peter Thiel gestures while giving the keynote speech during the StartOut LGBT Entrepreneurship Awards Thursday, March 8, 2012, in San Francisco. (AP Photo/Ben Margot)

    Ben Margot / AP Photo

    At least someone’s still making money off of Facebook. Facebook Inc. director Peter Thiel sold most of his shares in the social-networking website, after restrictions on insider sales ended. He sold roughly 20.1 million shares Aug. 16–17, raising about $395.8 million. But he had already taken in some $640.1 million during the company’s initial public offering. Thiel had initially invested $500,000 in the company back in 2004. Facebook unlocked 271.1 million shares last week, and another 1.44 billion shares will be unlocked by November.

    Read it at The Washington Post