Who is Peter Thiel, the billionaire behind the rise of Trump’s VP J.D. Vance?
Paypal’s co-founder has played a pivotal role in the rapid political ascent of Vance including his conversion from never-Trumper to VP in-waiting.
Peter Thiel’s relationship with Vance dates back to 2011, when the two first met after a speech Thiel delivered at Yale Law School. This encounter proved to be a turning point, as Thiel took Vance under his wing and mentored him through his transition into venture capitalism.
Vance subsequently joined Thiel’s firm, Mithril Capital, before later launching his own venture capital company, Narya Capital, with Thiel’s support.
Thiel’s influence extended beyond just mentorship, as he is reported to have facilitated a crucial meeting between Vance and former President Trump in 2021. This meeting led to a significant shift in Vance’s stance, transforming him from a vocal critic of Trump into one of the former president’s most ardent supporters.
Tim Ryan to JD Vance: “Mitch McConnell gave you $40 million to prop up your campaign. Peter Thiel gave you $15 million. What do you think they want for that? They want your loyalty. And you proved you’ll kiss their ass too.” pic.twitter.com/oj5n8AGCFA
— More Perfect Union (@MorePerfectUS) October 18, 2022
Thiel’s financial backing was also instrumental, as he contributed $15 million to Vance’s successful Senate campaign in 2022.
Who is Peter Thiel?
Peter Thiel co-founded PayPal, Palantir Technologies, and Founders Fund, and was the first outside investor in Facebook. He has an estimated net worth of $9.7 billion, making him one of the wealthiest individuals in the tech industry.
He has backed the idea of an “Enhanced Games” Olympics that would allow the use of performance-enhancing substances.
However, Thiel’s libertarian ideologies and skepticism towards societal progress, such as his critical remarks on women’s suffrage, have also drawn controversy.
“Since 1920, the vast increase in welfare beneficiaries and the extension of the franchise to women — two constituencies that are notoriously tough for libertarians — have rendered the notion of “capitalist democracy” into an oxymoron,” he penned in Cato unbound, a libertarian thinktank.