Thiel Becomes First Outside Investor in Facebook

Peter Thiel invested $500,000 in Facebook in August 2004 for a 10.2 percent stake, becoming the company's first outside investor and valuing the firm at about $4.9 million. The investment, structured as a convertible note, gave Thiel a board seat he held until 2022. Thiel sold most of his Facebook shares after the 2012 IPO for over $1 billion, funding his later political and venture activities.