On October 11, 1967, Peter Thiel was born in Frankfurt am Main, West Germany. When Peter was one, the family moved to Cleveland.
For his father’s job, they relocated a few more times, even to South Africa, before settling in Foster City, California. He went to Foster City’s Bowditch Middle School, San Mateo High School, Stanford University, and Stanford Law School.
After graduating from Stanford Law, Thiel worked as a judge’s clerk before relocating to New York City and landing a position as a securities attorney.
He started working at Credit Suisse in 1993 as a futures trader. He returned to the Bay Area in 1996 as the dot-com boom was about to take off, and he raised $1 million from friends and family to start a venture capital business.
Peter Thiel’s Net Worth in 2024
According to goodreturns, the estimated net worth of Peter Thiel is $8.41 billion as of 2024.
He has supported the notion of holding an Olympics with “Enhanced Games” that would permit the use of performance-enhancing drugs.
Thiel has generated controversy, nevertheless, due to his libertarian beliefs and mistrust of social advancement—he made disparaging statements about women’s suffrage, for example.
“Since 1920, the huge rise in welfare recipients and the voting rights of women—two groups that are notoriously hard for libertarians—have turned the idea of “capitalist democracy” into an oxymoron,” he wrote in Cato free, a libertarian think tank.
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How Did He Build His Wealth?
Peter Thiel is an enthusiastic tech investor. Many companies have benefited from his investments, including Palantir Technologies, Facebook, OpenAI, Stripe, and many more.
A Silicon Valley venture capital firm that has invested in Airbnb and SpaceX, Founders Fund, is where he is a partner.
He established Thiel Capital, a hedge fund, with the help of friends and family. After meeting young cryptographer Max Levchin in 1998, he invested in Levchin’s startup. In 2021, Bloomberg reported that Thiel invested through a Roth IRA to avoid paying taxes on part of his wealth.
In 2020, with support from the CIA, Palantir, a large data business that Peter Thiel helped create, went public.
When it came to cryptocurrency, Thiel had mixed feelings at first. Even while he was curious about blockchain technology, he had doubts about it. From his own pockets to his venture capital funds, Thiel has poured a lot of money into cryptocurrency startups.
The potential of blockchain technology is something he has also praised. “Bitcoin is the most transparent market in the world…” “It is the best market,” he declared during the Bitcoin 2022 gathering.
Investment
According to Palantir Technologies’ 2022 shareholder statement, Thiel has approximately 7% ownership in the company. He will receive the same number of shares as the firms in which he has invested: Thiel Capital, PLTR Holdings, PT Ventures, STS Holdings II, Rivendell 7, and Rivendell 25.
A number of companies are indirectly owned by the billionaire due to his interest in the venture capital firm Founders Fund. We can determine that he owns 42.5% of the business from the company’s 2022 Form ADV report. Based on its findings, insiders possess 22% of the $32.5 billion assets managed by its funds.
Outside of the Founders Fund, Thiel invests in businesses such as AbCellera Biologics and Compass Pathways. Shares of PayPal were offered to the general public for $13 apiece in 2002. Then, for $1.5 billion, eBay acquired PayPal.
In 2004, he and Dr. Alexander Karp founded Palantir Technologies Inc. Additionally, Peter loaned Mark Zuckerberg $500,000. He eventually converted the loan into Facebook stock.
With $680 million in investment, Palantir was valued at $20 billion in 2015. He was appointed to Trump’s transition team in 2016.
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