Facebook hasn’t made clear if Luckey jumped or was pushed but the departure comes in the wake of controversy surrounding the VR pioneers financial support to a group dedicated to producing unflattering internet memes of Hilary Clinton.
Oculus was also ordered to pay out $500m in damages following accusations that Luckey had violated a non-disclosure agreement while building an early Oculus Rift prototype.
In a statement handed to Recode Facebook said: “Palmer will be dearly missed. Palmer's legacy extends far beyond Oculus. His inventive spirit helped kickstart the modern VR revolution and build an industry. We're thankful for everything he did for Oculus and VR, and we wish him all the best.”