Peter Thiel, cofounder of Paypal, and one of Facebook’s earliest board members, is stepping down from his board position at the platform’s parent company Meta.

Meta announced Monday that Thiel, who was a member of the board of directors since 2005, would be stepping down.

Thiel's move comes as he turns his focus to influencing November’s midterm elections, a person familiar with his thinking told The New York Times.

Thiel has been a significant donor to Republican candidates. He’s put millions into the campaigns of two Republicans running in battleground states — Blake Masters in Arizona and J.D. Vance in Ohio.