Thursday, 25 December 2014
Last updated 1 day ago
Aug 15 2012 | 11:14am ET
Clarium Capital Management founder Peter Thiel may be looking to unload a few more Facebook Inc. shares.
Thiel, who founded PayPal and who was an early investor in Facebook, converted more than 9 million of his shares in the company from Class B to Class A, the latter being easier to trade publicly. Thiel, who serves on the social-networking giant's board of directors, had already sold more than 16 million Facebook shares in its giant initial public offering.
Thiel made $630 million on the IPO. Since going public, however, Facebook shares have plummeted by almost half, meaning that Thiel's remaining stake in the company is worth about $550 million. Most of Thiel's shares are Class A shares.
Restrictions on early Facebook investors mean that most can't sell their shares until at least tomorrow. It is unclear whether Thiel plans to unload more Facebook shares, but he has surrendered some power over the company with his move; Class A shares may be more liquid than Class B, but they carry less voting power.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.