Billionaire investor Peter Thiel is reportedly moving his residence, as well as his venture capital firm and non-profit, to Los Angeles after expressing frustration with what he sees as Silicon Valley’s overwhelming liberal politics and diminishing opportunities for tech investing.
The co-founder and former chief executive of Pay Pal plans to permanently move into a home in Hollywood Hills West, which he purchased in 2012 for $11.5 million, according to a person familiar with the matter, the Wall Street Journal reports. Forbes values Thiel’s net worth at $2.5 billion.
Thiel Capital and Thiel Foundation plan to move their approximately 50 employees to Los Angeles, where they will continue to manage Thiel’s personal holdings. Founders Fund and Mithril Capital, which he co-founded, will stay in San Francisco.
Technology reporter Garrett Reim can be reached at firstname.lastname@example.org. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Silicon Beach Report Feb. 15: Billionaire Peter Thiel Moving to Los Angeles
- 29. Peter Thiel
- Peter Thiel
- New Billionaire for L.A.; New Scale for Thiel
- Thiel Fund Gets Luckey
- Hilton’s Other Career; Soon-Shiong’s Ripple
- PETER THIEL
- Silicon Beach Report Nov. 7: Soylent Believes Algae Ingredient Made Customers Sick