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Summary Box: Early Facebook investor cashes out

Source : AP
Last Updated: Tue, Aug 21, 2012 05:45 hrs

: Peter Thiel, Facebook's first major investor and a member of the company's board, has sold most of his remaining stock in the Internet's leading social network.

HUGE WINDFALL: By selling 20 million Facebook shares through his affiliates, Thiel harvested about $396 million before taxes. He sold the stock at last week at prices ranging from $19.27 to $20.69, according to a Monday regulatory filing.

EARLIER GAINS: Thiel had previously sold 16.8 million shares for about $640 million in May when Facebook went public at $38 per share. The company's shares closed Monday at $20.01.



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