Peter Thiel has now sold $1 billion of Palantir stock this year

(Bloomberg) — Peter Thiel sold nearly $600 million in Palantir Technologies Inc. stock. this week, bringing its total sales this year to more than $1 billion.

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He sold more than 16 million shares in three days this week, according to a regulatory filing, adding to the 20 million shares he sold in March and May.

Palantir disclosed in December that entities owned by Thiel have adopted the type of trading plan that executives of public companies typically use to schedule sales. The billionaire planned to sell up to 20 million shares. In May, the entity adopted a second trading plan covering up to 28.6 million shares, a filing shows.

The documents did not reveal why Thiel sold the shares or what he plans to do with the money. He did not respond to a request for comment. The 56-year-old co-founded Palantir and is worth $12.4 billion, according to the Bloomberg Billionaires Index.

Thiel sold only common stock, not units in the special voting share classes that give him and co-founders Alex Karp and Stephen Cohen control of the board.

Palantir this week was added to the S&P 500. Its stock has doubled so far this year.

–With assistance from Biz Carson.

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