Peter Thiel, an early Facebook investor, is stepping down from Meta board

Peter Thiel.
(Image credit: Stephanie Keith/Getty Images)

Billionaire tech investor Peter Thiel is stepping down from the board of Facebook's parent company Meta.

Monday's announcement comes after Meta's stock price dropped 26 percent last Wednesday and the social media giant reported that last quarter, for the first time in its history, it lost daily users.

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Catherine Garcia, The Week US

Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.