|Net Worth:||$7 Billion|
|Date of Birth:||October 11, 1967 (56 years old)|
|Profession:||Investor, Venture capitalist, Entrepreneur, Businessperson.|
|Nationality:||United States of America|
What is Peter Thiel’s net worth?
Peter Thiel is an American-German-born entrepreneur, venture capitalist, and hedge fund manager who has a net worth of $7 billion. Co-founding PayPal was how Peter initially became wealthy.
Later on, when the company was still known as TheFacebook.com, he became the first outside investor.
Peter gave Mark Zuckerberg $500,000 and a leave of absence from his sophomore year at Harvard in exchange for a 10% stake in the budding social network. Thiel made a fortune off of the investment.
Despite having rapidly sold the vast majority of his shares following the company’s IPO, he is still a member of Facebook’s board of directors. Peter has spent his wealth in other businesses besides Facebook, most notably the company Palantir.
On October 11, 1967, Peter Thiel was born in Frankfurt am Main, West Germany. The family moved to Cleveland when Peter was a baby before finally settling in Foster City, California.
Career in PayPal
During the 1998 summer, Peter officiated a lecture that was attended by Max Levchin a 23-year-old Stanford Ph.D. student who later became friends with Peter Thiel.
Peter soon after handed Max the cash he required to launch the company that would eventually become PayPal.
Payment system’ is a term used to describe the method of receiving payments through electronic means Later, Peter also served as the company’s CEO and Chairman.
In the heart of Palo Alto, the business rented office space It was purely coincidental that X.com, a rival provider of digital payments, was occupying space on the same floor.
The X.com website was created by Elon Musk. In contrast to PayPal’s plan to make it possible to transfer money between Palm devices, X.com was working on a system for sending money via the nascent World Wide Web.
As the amount of competition and venture capital fund investment increased, PayPal and X.com ultimately made the decision to merge.
Peter Thiel resigned shortly after the transaction was finished, and Elon Musk was appointed CEO of the combined business, which adopted the name PayPal.
After removing Elon from his role, the PayPal board replaced Peter as CEO in September 2000.
Subsequently, in 2002, eBay purchased PayPal for a whopping amount of $1.5 billion. At that time total of over $60 million was Peter’s stake of 3.7% and Elon had a total earning of about $175 million which was about an 11.7% stake rate.
In order to purchase a 10.2% stake in August 2004, Peter Thiel deposited $500,000 in Facebook which automatically made him the first foreign investor of the establishment.
Before Facebook went public in 2012, Peter sold a stake in the company for $638 million. In August 2012, he almost completely sold off his remaining ownership for $395 million. To name a few, he has made early contributions to companies like LinkedIn, Yelp, Stripe, Quora, and Yammer. Management by Clarium Capital With $10 million of his PayPal fortune, Peter used it to create Clarium
Capital Management, a hedge fund and investment management company.
He founded the analytical software company Palantir Technologies in 2003, which has its headquarters in California and where he serves as chairman of the board.
Other Business Success
Peter Thiel has received numerous awards and recognition as a result of his consistent contributory efforts in finance, entrepreneurship, and technology. He has been awarded Young Global Leader by the World Economic Forum.
Along with the aforementioned, Peter has taken a prominent role in a variety of charitable, academic, and cultural initiatives.
He largely supports the Committee to Protect Journalists, although he also supports the Singularity Institute for Artificial Intelligence and the charitable SENS Foundation for health care.
Peter still actively participates in his alma institution and has lectured at Stanford Law School. In order to forgo schooling and concentrate on their business ideas, the Thiel Foundation of Peter Thiel pays aspiring business owners $100,000 over the course of two years.
In addition to having a JD from Stanford Law School and a BA in philosophy from Stanford University, Peter also gives students advice to put business ahead of academics.
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