Peter Thiel, the co-founder of data analytics company Palantir Technologies, has sold nearly $600 million worth of PLTR stock this week, according to a regulatory filing with the U.S. Securities and Exchange Commission. This brings his total stock sales for the year to over $1 billion.
Thiel sold more than 16 million shares over a span of three days this week, adding to the 20 million shares he sold in March and May. The SEC filings did not specify the reasons behind Thiel’s stock sales or his plans for the proceeds.
Thiel, who has a fortune estimated at $12.4 billion by the Bloomberg Billionaires Index, has been a vocal figure in the tech industry and beyond. This week, Palantir was added to the S&P 500, and its shares have more than doubled this year.
Thiel’s recent stock sales come at a time when he has been expressing controversial views on various subjects. In early September, he voiced concerns about the potential dangers of a government powerful enough to regulate artificial intelligence, suggesting it could lead to a “global totalitarian character.”
In August, Thiel defended his controversial comment calling Warren Buffett a “sociopathic grandpa from Omaha,” highlighting his belief that traditional finance leaders are major roadblocks to Bitcoin’s wider acceptance. He also stirred controversy by comparing California’s progressive culture to Saudi Arabia’s in terms of its influence on the state’s operations. He argued that “wokeism” in California has a significant impact, much like Wahhabism in Saudi Arabia.
Additionally, a book by former Palantir employee Michael Gibson revealed that Thiel once offered a $1,000 monthly bonus to employees if they lived close to the office to ensure they could work late and on weekends if needed.
On Thursday, Palantir stock closed at $37.10, down 0.054%. In pre-market trading, the stock is reflecting a decrease of 0.65%. Year to date, Palantir’s stock has experienced significant growth, rising by 123.76%, according to data from Benzinga Pro.
