Peter Thiel sold almost $600 million of Palantir Technologies Inc. stock this week, bringing his total disposals this year to more than $1 billion.
He sold more than 16 million shares over three days this week, according to a regulatory filing, adding to the 20 million shares he sold in March and May.
Palantir in December disclosed that entities owned by Thiel had adopted the kind of trading plan that public-company executives commonly use to schedule sales. The billionaire planned to sell as many as 20 million shares. In May, the entity adopted a second trading plan encompassing as many as 28.6 million shares, a filing shows.
Filings didn’t disclose why Thiel sold the stock or what he plans to do with the money. He didn’t respond to a request for comment. The 56-year-old co-founded Palantir and has a $12.4 billion fortune, according to the Bloomberg Billionaires Index.
Thiel only sold common equity, not units from the share classes with special voting rights that give him and co-founders Alex Karp and Stephen Cohen control of the board.
Palantir this week was added to the S&P 500. Its shares have more than doubled so far this year.
LPL welcomes a Beverly Hills-based practice from Wedbush Securities as RayJay adds a Stifel alum to its employee advisor arm.
House bill seeks inflation-based adjustment to private fund advisor exemption.
A new House measure would enshrine FinHub and LabCFTC as permanent fixtures, deepening ties with financial technology sector.
The seasoned IT leader arrives as the credentialing body for CFP professionals considers AI's implications for the future of financial planning.
The brokerage industry regulator once again takes a stab at updating rules for independent brokers with other businesses and jobs
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
