Peter Thiel Offloads Over $1B In Palantir Stock In 2024 As Stock More Than Doubles

Peter Thiel has sold nearly $600 million worth of Palantir Technologies Inc. PLTR stock this week, according to the company’s regulatory filing with U.S. Securities and Exchange Commission. This brings his total stock sales for the year to over $1 billion.

What Happened: Thiel sold more than 16 million shares over a span of three days this week. This adds to the 20 million shares he sold in March and May, according to the SEC filings.

The filings did not specify the reasons behind Thiel’s stock sales or his plans for the proceeds.

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Thiel, who co-founded Palantir and has a fortune estimated at $12.4 billion by the Bloomberg Billionaires Index.

This week, Palantir was added to the S&P 500, and its shares have more than doubled this year.

Why It Matters: Thiel’s recent stock sales come amid a backdrop of his outspoken views on various subjects. In early September, Thiel 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 BTC/USD wider acceptance.

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Thiel 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 employee Michael Gibson revealed that Thiel once offered a $1,000 monthly bonus to Palantir employees if they lived close to the office to ensure they could work late and on weekends if needed.

Price Action: Palantir stock closed at $37.10 on Thursday, 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.

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