Donald Trump backer Peter Thiel leaves 'leftist' Silicon Valley

Peter Thiel

The only major name in Silicon Valley to back President Donald Trump, some have called for Thiel's removal from Facebook's board.

Mr Thiel is to move his home and his investment firms about 350 miles to Los Angeles and reduce his investments in the technology...

The decision underscores a growing divide between the outspoken tech industry conservative and Silicon Valley.

Thiel may also leave Facebook's board, the Wall Street Journal says, citing "people familiar with his thinking".

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Peter Thiel talked about resigning from Facebook's Board of Directors as political tensions between the venture capitalist and Silicon Valley continue to boil. "The other side doesn't care for you, and your side doesn't care for you because they don't need to".

The local City News Service reported Thursday that Thiel, whose net worth is 2.5 billion U.S dollars by Forbes estimates, planned to permanently move himself to a 7,000-square foot (650 square meters) home overlooking the Sunset Strip in Hollywood, a house he purchased six years ago. But in public, Facebook co-founder and CEO Mark Zuckerberg defended Thiel and said it was important to have "ideological diversity" on the Menlo Park company's board. In a 2016 email originally reported by The New York Times, Hastings described Thiel's support of Trump as "catastrophically bad judgment".

That action, if it occurs at all, does not appear to be imminent, but Thiel did sell 73% of his remaining stake in Facebook in November, pocketing nearly $30 million. "That's when you get in trouble politically in our society, when". He donated $1.25 million to the Trump campaign, and delivered a speech at the 2016 Republican National Convention. He founded Palantir in 2003, and invested the paltry sum of $500,000 for a 10.2 percent stake in Facebook in 2004.

In Los Angeles, Thiel will reportedly attempt to create a new conservative media outlet.

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