Peter Thiel Still Owns Roughly 3% of Palantir, a Stake Worth More Than $10 Billion. Here's Why His Continued Conviction Matters for Shareholders.
The top Silicon Valley investor is sticking with the high-growth data mining company.
Overview
Peter Thiel, one of Silicon Valley's most prolific investors, co-founded Palantir (NASDAQ: PLTR) with Stephen Cohen, Joe Lonsdale, Alex Karp, and Nathan Gettings in 2003. Through his personal assets and venture capital fund, Thiel invested about $30 million in the new company.
Before Palantir went public through a direct listing in 2020, Thiel owned nearly 10% of its private shares. He's sold millions of shares since its market debut, but he still holds a 3% stake -- which is worth more than $10 billion today -- and remains the company's executive chairman. Let's see why his continued conviction is bullish for Palantir's long-term prospects.
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Originally published at www.fool.com.