Peter Thiel Supports Trump, Backed Ethereum's Buterin: 5 Facts You Might Not Know About PayPal, Palantir Co-Founder
- by Benzinga.com
- Sep 06, 2024
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PLTR
. Here's a look at five things investors may be less familiar with when it comes to looking at the life of the famous investor and executive.
First Outside Facebook Investor: Today, social media company Meta Platforms Inc
META
is valued at $1.3 trillion. Thiel invested $500,000 in the company back in 2004 as the first outside investor. The company's valuation back then was $4.9 million.
Thiel owned 10.2% of the company and held more than 44 million shares when the company held its IPO in 2012. Thiel sold 16.8 million shares in the IPO, making $640 million and would later sell the majority of his position.
All told, Thiel turned his $500,000 investment in Facebook into more than $1 billion, as reported by CNN.
Backing Trump: Thiel's political involvement in recent years has become a hot topic. The investor is backing Donald Trump in the 2024 election and also has ties to Trump's running mate J.D. Vance. The senator and vice-presidential candidate previously worked at Mithril Capital, a venture capital firm backed by Thiel. The support for Trump in the 2024 election by Thiel may be less this election cycle.
"If you hold a gun to my head, I will vote for Trump. I'd rather have him…than Biden," Thiel said earlier this year.
While Thiel donated over $1 million to Trump for the 2016 election and spoke in support of him at the 2016 Republican National Convention, the investor said he would be less involved for the 2024 election. Thiel also ruled out donating to Trump's super PAC (political action committee).
A falling out ahead of the 2020 election and a heated phone call with Trump that came to light in recent months show that the relationship between Thiel and Trump has soured over the years. Thiel was a large donor to the Republican party in 2022, listed as the fifth largest individual donor and 11th largest donor overall for the 2022 election according to a report.
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