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PayPal founder stands by Trump

Published: October 16, 2016, 11:23 am

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    PayPal CEO Peter Thiel, is standing by Donald Trump. He will donate $1.25 million, some of his money directly to the campaign, a source said on Saturday. Thiel, 49, born in Germany, co-founded PayPal and Palantir, which focuses on pattern-finding software. His net worth is estimated at about $2.7 billion.

    The New York Times, a Clinton rag, meanwhile berated Thiel for his “populist tone” after Thiel spoke out against Wall Street and bankers: “Across the country, wages are flat. Americans get paid less today than 10 years ago. But health care and college tuition cost more every year. Meanwhile, Wall Street bankers inflate bubbles in everything from government bonds to Hillary Clinton’s speaking fees. Our economy is broken. If you’re watching me right now, you understand this better than any politician in Washington DC.”

    Thiel who also spoke at the Republican National Convention, is the only prominent supporter of the Republican candidate from the many high-tech companies, and this will be his first donation in support of Trump. He has declined to comment on the donation.

    The list of big Trump contributors is quite short. They include Robert Mercer of the hedge fund Renaissance Technologies and his daughter Rebekah. The Mercers have given $15.5 million to the Republican’s election campaign. Geoffrey Palmer, a Los Angeles developer, has donated $2 million.

    Thiel remains unfazed by the storm the media has tried to whip up around Trump and has said that Trump could do the fixing the country needs.

    Trump is at odds with Amazon and Apple and other large companies on immigration. Silicon Valley has embraced “diversity” in recent years, and Trump’s campaign has been seen as bad for “inclusivity” by them. The high-tech community however, is largely white and male, but they seem to want to hide that fact.

    Brian Krzanich, the chief executive of Intel, had planned a fund-raiser for Trump in June, but hours after the event became public, it was suddenly canceled when Krzanich found out that he was going to be blackmailed with his perceived failings on “gender” and “racism”.

    The billionaire funded the wrestler Hulk Hogan’s successful lawsuit against Gawker, a leftwing website publishing slander. The site has been closed down as a result of the suit. Thiel described them “as terrorists, not as writers or reporters”.

    karin@praag.org

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