Peter Thiel Sells $600 Million in Palantir Stock This Week

The billionaire cofounder's total sales of Palantir shares in 2024 now exceed $1 billion following the company's addition to the S&P 500.

Peter Thiel sold approximately 16 million Palantir shares between Tuesday and Thursday, generating $600 million in gross proceeds.
Thiel's total Palantir stock sales for 2024 have surpassed $1 billion, including previous sales in March and May.
Palantir's stock price has surged over 150% this year, partly due to its AI capabilities and recent addition to the S&P 500.
Thiel's sales are part of a pre-filed trading plan with the SEC, which allows for automatic sales based on certain conditions.
Despite these sales, Thiel still holds around 110 million Palantir shares, representing approximately 5% of the company.