According to two people close to the tech tycoon, Peter Thiel does not intend to donate to any political candidates in 2024. Thiel was an early supporter of former President Donald Trump but later parted ways with him.
One of the sources, a business acquaintance, claims that Thiel is dissatisfied with the Republican Party’s emphasis on divisive cultural issues in the United States, such as abortion and the rights of transgender pupils to use specific school restrooms.
Theil argued that Republicans, in his opinion, are misguided in their concentration on cultural flashpoints and instead should be working to increase American innovation and compete with China.
Puck, an online news outlet, claimed that Thiel would likely back Trump or abstain from voting in the primary.
According to one of Thiel’s business partners, after hearing him speak at the 2016 Republican National Convention, Thiel became more optimistic that the party would prioritize economic matters.
Thiel is withdrawing from U.S. politics, according to sources. Thiel is a libertarian, a political philosophy emphasizing the significance of individual freedoms, and he has distinguished himself from his Silicon Valley counterparts by his support for conservative causes.
The German entrepreneur who co-founded PayPal and Palantir and made early investments in Facebook is worth an estimated $4.2 billion. According to the non-profit OpenSecrets, he was the 10th highest individual donor to either party in the 2022 midterm congressional elections, and he has given roughly $50 million to state and federal political candidates and campaigns since 2000.
The Republican Party’s shift to the right on social issues has driven away some influential business donors, as evidenced by Thiel’s choice.
Many prominent donors have expressed reservations about supporting Florida Governor Ron DeSantis, who is widely speculated to launch a presidential bid soon.
Thiel backed libertarian congressman Ron Paul in 2012 and gave Trump, the likely Republican nominee in 2024, $1.25 million in 2016.
According to OpenSecrets, Thiel did not contribute to Trump’s reelection campaign in 2020. One of the sources close to Thiel stated that while Thiel supported some of Trump’s actions while in power, he did not like the chaos surrounding the former reality TV star’s presidency.
Thiel is married and has two young children with his partner, businessman Matt Danzeisen.
A source close to Thiel told Reuters that Thiel’s decision to withdraw was partially motivated by fears for his family’s safety.