In 2004, Peter Thiel invested $500,000 in Facebook. 8 years later, his early bet had turned into more than $1 billion

In 2004, Peter Thiel put $500,000 into a young Facebook that was valued at roughly $5 million. At that point, there was no public stock price to watch and no billion-dollar company behind the name. Thiel was investing in a much smaller business whose future was still uncertain. Eight years later, his early bet had produced more than $1 billion in proceeds.

The $500,000 was not originally a bet on Facebook stock