US conservative billionaire tech investor Peter Thiel was reported to move himself and his investment firms from Bay Area close to San Francisco to Los Angeles, both in the western coast of the country.
He also will move Thiel Capital and Thiel Foundation to new Los Angeles headquarters.
Peter Thiel talked about resigning from Facebook's Board of Directors as political tensions between the venture capitalist and Silicon Valley continue to boil. Thiel discussed his support for Republican presidential nominee Donald Trump.
The billionaire co-founder of PayPal has become disaffected with what he sees as the left-leaning politics of the San Francisco Bay Area, a person familiar with his plans says. 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.
Thiel also funded a massive libel lawsuit on behalf of former wrestling star Hulk Hogan that shut down the website Gawker, years after Gawker disclosed that Thiel is gay.
The filing said he had sold another 160,805 shares for about $29 million, leaving his holdings at 59,913 Class A shares in the company. He founded Palantir in 2003, and invested the paltry sum of $500,000 for a 10.2 percent stake in Facebook in 2004.
Later the same year, he sold roughly 20 million of his remaining 26 million shares for $400million after the expiry of a lockup.
'Silicon Valley is a one-party state, ' Thiel said last month.
Peter Thiel, Silicon Valley's most high-profile conservative, may be admitting defeat in Silicon Valley's culture wars and retreating to Los Angeles. "That's when you get in trouble politically in our society, when you're all in one side".