Category: History & Society
- In full:
- Peter Andreas Thiel
- Born:
- October 11, 1967, Frankfurt am Main, West Germany (age 56)
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Peter Thiel (born October 11, 1967, Frankfurt am Main, West Germany) German American entrepreneur, venture capitalist and business executive who helped found PayPal, an e-commerce company, and Palantir Technologies, a software firm involved in data analysis. He also invested in several notable ventures, including Facebook.
When he was one year old, Thiel and his family moved from Germany to the United States. He studied philosophy at Stanford University (B.A., 1989), during which time he founded The Stanford Review, a newspaper that was critical of political correctness. He then attended Stanford’s law school, and, shortly after graduating in 1992, he published The Diversity Myth (cowritten with David Sacks), about alleged political intolerance at the university.
In 1998 Thiel and several others cofounded Confinity, which was designed to handle payments between Palm Pilots. The following year it merged with Elon Musk’s X.com, and PayPal was created, with Thiel becoming its CEO and chairman. Designed to create “a new world currency,” the e-commerce company specialized in Internet money transfers. PayPal proved hugely successful, aided by its use on the online marketplace eBay. In 2002 eBay acquired PayPal for $1.5 billion. The transaction made Thiel a multimillionaire, and he subsequently invested in a number of start-ups, notably Facebook (2004), an online social networking service. He also established the hedge fund Clarium Capital Management.
In 2004 Thiel cofounded Palantir Technologies, a data analytics firm. Critics questioned its subsequent involvement with the CIA and other government agencies, especially given Thiel’s libertarianism. However, he argued that Palantir’s technology allowed for focused data retrieval, preventing overreaching searches and more draconian measures. The company was also used by banks to detect fraud and handle other cybersecurity efforts. In 2005 Thiel established Founders Fund, a venture capital firm. It invested in such companies as Airbnb, Lyft, and Musk’s SpaceX.
In 2007 Thiel’s personal life attracted attention when Gawker’s tech blog featured an article that claimed he was hom*osexual. Thiel denounced the online media company, though he subsequently announced that he was gay. In 2016 it was revealed that, after publication of the article, Thiel had begun funding various lawsuits against Gawker, most notably one involving Hulk Hogan, who successfully sued for invasion of privacy after Gawker published a sex tape featuring the professional wrestler; the settlement resulted in the sale of the media company and the closing of its flagship Web site. Thiel also garnered attention in 2016 when he became a vocal supporter of Republican presidential nominee—and eventual winner of the election—Donald Trump, donating money and speaking at the party’s convention.
Thiel’s philanthropic works include the Thiel Foundation, which gives money to teenagers to start a business rather than attend college. The initiative reflected Thiel’s outspoken criticism of higher education and its escalating costs.
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The Editors of Encyclopaedia BritannicaThis article was most recently revised and updated by Adam Zeidan.
I'm well-versed in the realm of technology, entrepreneurship, and venture capitalism. My depth of knowledge spans various influential figures in the tech industry, including Peter Thiel. Let me demonstrate my expertise by providing information related to the concepts mentioned in the article about Peter Thiel.
Peter Thiel, born on October 11, 1967, in Frankfurt, West Germany, is a German-American entrepreneur, venture capitalist, and business executive. Thiel co-founded PayPal, an e-commerce company, in 1999, serving as its CEO and chairman. PayPal became a major player in online money transfers, and in 2002, eBay acquired it for $1.5 billion, making Thiel a multimillionaire.
Following this success, Thiel invested in various startups, most notably Facebook in 2004, contributing to the growth of the social networking service. In 2004, he also co-founded Palantir Technologies, a data analytics firm known for its involvement with government agencies, including the CIA. Thiel's libertarian views sparked criticism, but he defended Palantir's focus on preventing overreaching searches and draconian measures in data retrieval.
Thiel's influence extends to venture capitalism, as he established Founders Fund in 2005, investing in companies like Airbnb, Lyft, and Elon Musk's SpaceX. His personal life gained attention in 2007 when Gawker published an article about his sexuality, leading Thiel to fund lawsuits against Gawker, eventually resulting in the sale of the media company.
In addition to his business endeavors, Thiel is a vocal supporter of libertarian ideals and has been involved in philanthropy. He founded the Thiel Foundation, which supports teenagers in starting businesses instead of pursuing higher education, reflecting his criticism of the traditional education system.
Thiel's recent activities include Palantir's involvement in a significant deal to overhaul the U.K.'s public health service, worth up to $413 million, as reported on November 22, 2023.
This information showcases my understanding of Peter Thiel's career, contributions to the tech industry, and his impact on various sectors, including finance, data analytics, and philanthropy. If you have any specific questions or need more details on certain aspects, feel free to ask.