Palantir Chair Peter Thiel Sells $600M in Shares

1 min read | September 27, 2024 07:02 PM PDT | By Team Kalkine Media

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Palantir Chair Peter Thiel Sells $600M in Shares — Image source: Shutterstock

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Peter Thiel has sold a significant portion of Palantir Technologies shares, valued at approximately $600 million.

Despite the sale, Thiel continues to hold over 46 million shares in the company, with a valuation in the billions.

Palantir’s leadership team retains strong voting control in the company, which focuses on data analytics software for government entities globally.

Peter Thiel, Chairman of Palantir Technologies (NYSE:PLTR), recently sold shares amounting to approximately $600 million. This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan through an investment vehicle owned by Thiel. Despite this significant sale, he continues to hold more than 46 million shares in Palantir, currently valued at over $1 billion.

Thiel, along with co-founders Alex Karp and Stephen Cohen, maintains nearly 50% of the voting control in the company. Palantir Technologies specializes in providing advanced data analytics software, particularly for government agencies, including contracts with the U.S. government. Despite the sale, Thiel remains deeply involved in the company’s governance.

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