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Conservative tech billionaire Peter Thiel is stepping down from the Board of Directors of Facebook/Meta and Instagram after almost 20 years. 

He is known for his tech investments at Thiel Capital. Thiel, co-founder of PayPal, Palantir Technologies, and Bridgetown Holdings has an estimated net worth of $2.6 billion. He was Facebook’s first outside investor in 2004. And joined the Board in 2005.

Theil to focus on political causes

The Wall Street Journal reports that Thiel is stepping down to devote more time to advancing a pro-Trump political agenda in the 2022 campaign season.

He endorsed Trump at the 2016 Republican National Convention. And received a standing ovation when he suggested that Republicans should be open and inclusive. But he received criticism and scorn in the ultra-liberal Silicon Valley. 

Peter Thiel is focusing on supporting Republican candidates in Arizona and Ohio.

“He thinks that the Republican Party can advance the Trump agenda and he wants to do what he can to support that,” Bloomberg reports. “His focus will be on supporting Blake Masters, JD Vance, and others who support the Trump agenda.”  

In Arizona, Blake Masters,34, the Chief Operating Officer at Thiel is running to unseat Democratic Senator Mark Kelly in 2022. 

Masters is a longtime friend and protege of Thiel's, dating back to his time at Stanford University. He is promising to “completely end illegal immigration.” 

Theil supports J. D. Vance “Hillbilly Elegy” author for Ohio senate candidate.

He has held fundraising dinners for both candidates and spent millions on their campaigns. 

Zuckerberg praises Peter Thiel

The company announced Theil’s plan to leave Meta after its May 2022 Annual Meeting of Stockholders.

 Mark Zuckerberg praised the conservative entrepreneur and his longtime friend. 

“Peter has been a valuable member of our board and I’m deeply grateful for everything he has done for our company,” Zuckerberg said. “Peter is truly an original thinker who you can bring your hardest problems to and get unique suggestions.”

Thiel also praised Zuckerberg for “intelligence, energy, and conscientiousness.”