Peter Thiel Sells Almost All His Facebook Stock

Todd Wasserman
Peter Thiel Sells Almost All His Facebook Stock
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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.