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Peter Thiel, a key figure at the software and analytics firm Palantir Technologies, has sold a portion of his shares in the company.
Thiel announced on the 16th (local time) that, for the first time, he had sold a portion of his Palantir Technologies stake, worth about $3.4 billion, which he had held for over two years. The stock surged due to AI anticipation.
According to the Bloomberg Billionaires Index, despite selling shares worth $175 million on Tuesday, Thiel still owns about 7% of Palantir, which remains his largest asset.
Like other billionaires, including Mark Zuckerberg and Jeff Bezos, Thiel has capitalized on the recent tech rally to sell his shares after years without any sales.
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Thiel co-founded Palantir in 2003 and currently remains as its chairman.
He directly owns shares and holds them through funds, including Mithril and Rivendell.
After announcing its first annual profit on February 6th, driven by strong demand for AI technologies, Palantir’s share price surged by 31%. Year-to-date, the stock has risen by 37%, with revenue expectations for 2024 exceeding forecasts.
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