According to sources, Thiel believes Republicans are making a mistake in focusing on cultural flashpoints and should be more concerned with spurring U.S. innovation and competing with China. GOP megadonor Peter Thiel won’t fund candidates in 2024:
SAN FRANCISCO - Tech billionaire and Republican megadonor Peter Thiel, an early backer of former President Donald Trump who later broke with him, has told associates he is not planning to donate to any political candidates in 2024, according to two people close to the businessman.
Thiel's plans for the Republican primary and general election have not been previously reported. Online news site Puck previously reported Thiel was most likely either to support Trump or sit out the primary. Thiel declined a Reuters request for an interview. Four political sources also told Reuters that Thiel is taking a step back from U.S. politics. Thiel, who diverged from his Silicon Valley peers with his embrace of conservative causes, identifies as a supporter of libertarianism, a political philosophy that stresses the importance of individual freedoms.The German-born entrepreneur has a fortune estimated at around $4.2 billion after co-founding PayPal and Palantir and investing early in Facebook.
In 2020, Thiel did not financially back Trump's re-election efforts, according to OpenSecrets. Thiel liked some of Trump's policies while in office but disapproved of the chaos surrounding the former reality TV star's presidency, said one of the sources, who is close to Thiel personally.
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