Peter Thiel Sells Almost All His Facebook Stock

Todd Wasserman
Peter Thiel Sells Almost All His Facebook Stock

Peter Thiel, one of Facebook's earliest investors, has taken advantage of the expiration of a lock-up period last week and has sold 22.3 million shares -- almost all the stock he owns in the company -- according to documents filed with the SEC.

[More from Mashable: Will Facebook Stock Tank Again When the First Lockout Period Expires on Thursday?]

The sale, at a price of around $20, means Thiel netted about $446 million and now has another 1.3 million shares left. Thiel was one of many investors to take advantage of last Thursday's lock-up expiration. The end of that first lock-up period freed up a total of 271 million shares.

Predictably, Facebook's share price fell at the time, hitting a new low of $19.69.

[More from Mashable: Facebook Posts $1.18 Billion in Revenues, Beating Low Estimates]

Facebook's stock closed at $20.01 on Monday and was up slightly in afterhours.

Image courtesy of Flickr, David.Orban

This story originally published on Mashable here.