Peter Thiel stepping down from Facebook board to help elect Trump-loving candidates: NYT
Paypal co-founder Peter Thiel speaks at the Republican National Convention in Cleveland, Ohio, U.S. July 21, 2016. REUTERS/Mike Segar

Billionaire Peter Thiel is stepping down from the board of Facebook -- and the New York Times reports that he's doing it to focus on electing pro-Trump candidates in the 2022 midterm elections.

"Thiel sees the midterms as crucial to changing the direction of the country... and he is backing candidates who support the agenda of former president Donald J. Trump," writes the Times, citing a person "familiar with Thiel's thinking." "Over the last year, Mr. Thiel, who has a net worth estimated at $2.6 billion by Forbes, has become one of the Republican’s Party’s largest donors. He gave $10 million each last year to the campaigns of two protégés, Blake Masters, who is running for a Senate seat in Arizona, and J.D. Vance, who is running for Senate in Ohio."

IN OTHER NEWS: National Archives says Trump representatives are still looking for additional docs he smuggled to Mar-a-Lago

Thiel has been a board member of Facebook since 2005, although the Times notes that his position on the board has become increasingly controversial as he has grown more overt in his support for the Trump agenda.

Facebook founder Mark Zuckerberg heaped praise on Thiel upon his departure.

"Peter has been a valuable member of our board and I’m deeply grateful for everything he’s done for our company," he said. “Peter is truly an original thinker who you can bring your hardest problems and get original suggestions.”

IN OTHER NEWS: National Archives says Trump representatives are still looking for additional docs he smuggled to Mar-a-Lago

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