📺 Stream EntrepreneurTV for Free 📺

One of Meta's Most Controversial Board Members Is Leaving, Potentially to Support Trump-Aligned Political Candidates Some of his contrarian ideas include encouraging young people to opt out of college and arguing that entrepreneurs should strive for monopolies in his 'New York Times' bestseller 'Zero to One.'

By Amanda Breen

entrepreneur daily

Peter Thiel, one of Meta's longest-serving board members, will step down later this year, the company said Monday. Thiel, 54, has been a member of the company's board of directors since 2005 and will continue to serve until the company's 2022 annual stockholder meeting, at which time he will not stand for reelection.

Thiel, long a controversial figure in Silicon Valley, co-founded PayPal and data-analytics firm Palantir Technologies, and is a partner at venture capital firm Founders Fund. He was an early investor in Facebook, LinkedIn, Yelp and other heavy-hitting tech firms. Some of his contrarian ideas include encouraging young people to opt out of college and arguing that entrepreneurs should strive for monopolies in his New York Times bestseller Zero to One.

Politico calls Thiel's political worldview "a mishmash of libertarianism and nationalism that has led to his interest in cryptocurrency, funding of immigration hardliners, support for seasteading — floating autonomous ocean communities that are not subject to government regulations or taxes," noting that while most public figures tried to distance themselves from Donald Trump in the early days of the 2016 presidential campaign, Thiel emerged as one of his most powerful supporters.

Related: Meta Pays $60 Million to Meta Financial Group for Name Rights

In 2016, when Thiel's $1.25 million donation to Trump's campaign incensed Silicon Valley, Meta founder and CEO Mark Zuckerberg came to his defense, saying on an internal post, "we can't create a culture that says it cares about diversity and then excludes almost half the country because they back a political candidate." Now, as Thiel plans for his exit, Zuckerberg continues to be vocal in his support, saying Thiel is "truly an original thinker" who is leaving to "devote his time to other interests."

Those other interests likely include politics, as midterm elections draw near in the U.S. On Monday, the New York Times reported that Thiel intends to back candidates who support former President Donald Trump's agenda, per an unnamed source with insider knowledge.

Meta will lose the most outspoken conservative voice on its board when Thiel leaves. The company faces serious challenges ahead, as it is already under fire for censoring conservative voices (despite a lack of credible, non-partisan reporting to support such claims) and has been experiencing staganting user growth and regulatory scrutiny.

Related: Meta Plans Physical Stores to Showcase Its Virtual- and Augmented-Reality Devices

Amanda Breen

Entrepreneur Staff

Senior Features Writer

Amanda Breen is a senior features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

Passengers Are Now Entitled to a Full Cash Refund for Canceled Flights, 'Significant' Delays

The U.S. Department of Transportation announced new rules for commercial passengers on Wednesday.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Franchise

Franchising Is Not For Everyone. Explore These Lucrative Alternatives to Expand Your Business.

Not every business can be franchised, nor should it. While franchising can be the right growth vehicle for someone with an established brand and proven concept that's ripe for growth, there are other options available for business owners.

Leadership

Why Companies Should Prioritize Emotional Intelligence Training Alongside AI Implementation

Emotional intelligence is just as important as artificial intelligence, and we need it now more than ever.

Business News

Elon Musk Tells Investors Cheaper Tesla Electric Cars Should Arrive Ahead of Schedule

On an earnings call, Musk told shareholders that Tesla could start producing new, affordable electric cars earlier than expected.