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PayPal co-founder and Facebook board member Peter Thiel. Photo: Ben Margot / AP

Peter Thiel, the first major investor and a current board member at Facebook, has sold three-quarters of his remaining stake in the company, per Reuters. The move was part of a previously set trading plan, according to a filing document.

The backdrop: Thiel had already sold more than $1 billion worth of shares in Facebook before this most recent sell. He sold $640 million of stock in the company's IPO alone. A representative from Facebook told Reuters that the sale was routine and that Thiel continues to hold his seat on Facebook's board.

Go deeper

Dion Rabouin, author of Markets
Updated 2 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

Mike Allen, author of AM
3 hours ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
3 hours ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.