Federal Politics

Published — February 20, 2012 Updated — May 19, 2014 at 12:19 pm ET

PayPal co-founder gives $1.7 million to pro-Ron Paul super PAC in January

Peter Thiel, president of Clarium Capital Singularity Summit

Thiel’s total contributions to ‘Endorse Liberty’ reach $2.6 million

Introduction

Texas congressman Ron Paul may be running in fourth place in the most recent national polls for the Republican presidential nomination, but he’s first in the heart of PayPal founder and hedge fund manager Peter Thiel.

With a $1.7 million donation in January added to the $900,000 he’s already given, Thiel is responsible for 76 percent of Endorse Liberty‘s $3.4 million in total receipts, according to Federal Election Commission disclosure records released Monday.

In 1998, Thiel was a co-founder of PayPal, the online payment service that revolutionized the way commerce is conducted online. EBay Inc., the Internet auction service, bought PayPal for $1.5 billion in Ocotober 2002, making the technology pioneer a very wealthy man.

Thiel, 44, a former securities lawyer and self-described Libertarian, blames regulation for hurting innovation, a view that dovetails with Paul’s platform. Thiel founded hedge fund Clarium Capital Management LLC in 2002.

Endorse Liberty was created by three young businessmen and one seasoned corporate veteran. Abe Niederhauser and Jeffrey Harmon both work in the marketing department at the bad-breath-combating company Orabrush, and they’ve taken the company’s bold, youthful marketing strategy and applied it to their endorsements of Ron Paul.

Ladd Christensen, who like Niederhauser and Harmon is a Utah resident, has ties to the Huntsman Corp., founded by Jon M. Huntsman, Sr., father of Jon Jr., who dropped out of the race.

The majority of Endorse Liberty’s expenditures have gone toward ads on websites like Google, Facebook and StumbleUpon.com, according to FEC reports. The PAC has also created parody videos of other Republican presidential candidates, including Romney, Gingrich and Santorum.

Thiel was an early investor in Facebook, reportedly investing $500,000 in the unknown startup. His stake is now worth more than $2 billion, according to several reports.

Unlike other super PACs supporting presidential candidates, Endorse Liberty has no apparent connection to the Paul campaign.

In the latest Gallup national tracking poll, released Sunday, former Pennsylvania Sen. Rick Santorum would draw 36 percent of the Republican vote; former Massachusetts Gov. Mitt Romney is at 28 percent; former House Speaker Newt Gingrich is at 13 percent while Paul is at 11 percent.

Read more in Federal Politics

Share this article

Join the conversation

Show Comments

11
Leave a Reply

avatar
9 Comment threads
2 Thread replies
1 Followers
 
Most reacted comment
Hottest comment thread
8 Comment authors
SOUTH JERSEYTed SiroisMark SullivanTom LarkinAnonymous Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Mark Sullivan
Guest
Mark Sullivan

Trump needs to conduct these activities because the entire MSM media, excluding Fox, is campaigning against him 24/7/365.

Didn’t Monica’s boyfriend’s wife and various criminal enterprises outspend Trump by almost 2-1?

CapitalistRoader
Guest
CapitalistRoader

Why wouldn’t he get an early start on fund raising? Hillary outspent him two-to-one in 2016. The Dem’s are the party of big money. The President knows this and is attempting to get a jump on it. Of course the Dem candidate will outspend him in 2020 so it’s only rational that he starts fund raising now.

George Young
Guest
George Young

Oh brother. We just 8 years of the Campaigner – in – Chief. Where was this journalistic rectal thermometer then. Just another article about 2000 words too long that merely takes another slap at Trump for something he far from initiated.

j stevenson
Guest
j stevenson

The big difference between Trump and all the rest is his refusing to accept funds from lobbyists, so they don’t have the White House access they are used to. These are the donors who buy the presidency and are as pixxed off that he won the election as are the media and the Dems. Lobbyists have never been shut out of the WH and Trump has told them he is not for sale.

Anonymous
Guest
Anonymous

Trump needs to be impeached and tossed in prison. Then have the key thrown away so he will never be free. Then he can see how it feels not to have freedom.

Mark Sullivan
Guest
Mark Sullivan

Thank you for the usual insightful leftist low IQ Snowflake response.

barney
Guest

hes not imprisoning them hes sending them back to their country chill tf out

SOUTH JERSEY
Guest
SOUTH JERSEY

WHY DONT YOU HAVE FREEDOM?

Tom Larkin
Guest
Tom Larkin

First, something positive. I was happy to learn of empirical information in article. BUT, the article was so slanted against President Trump as to be deemed fake news (“Perhaps Trump just lied.” (Two different issues)). The article mentions that President Trump raised over $67 million, but ended 2018 with $19 million. President Trump spent over $40 million 2016 and 2017. President Trump conducted 57 political rallies. The article notes the hats and T-shirts sold, but NEVER MENTIONS THE INCREASE IN THE NUMBER OF REPUBLICAN SENATORS during a mid-term election that lost the House and the number of political rallies in… Read more »

Ted Sirois
Guest
Ted Sirois

At least Trump is getting donations from willing donors. Fresh from his first election, Obama used billions of our children’s tax dollars to save thousands of union jobs in the car industry and bailed out the banks and many Wall Street businesses. This secured his source of reelection funds for his reelection four years later.

South Jersey
Guest
South Jersey

TRUMP 2020; IS AN AMAZINGLY SMART MAN! VERY ORIGINAL & CREATIVE. I AM HAPPY TO HAVE HIS AS POTUS.

SOUTH JERSEY
Guest
SOUTH JERSEY

THIS ARTICLE WAS OBVIOUSLY WRITTEN BY, A TRUMP-HATE-GROUP. THAT FEELS; IT IS NOT NORMAL TO BE SUCCESSFUL WITH YOUR OWN BRAND NAME. WHEN, IF FACT, IT IS NORMAL! >>>>> THIS IS >>> FAKE NEWS!!! <<<< ie: A PACK-OF-LIES; SPUN INTO; DEFAMATION OF CHARACTER. FOR A SINISTER-AGENDA OF; FASCIST DEMOCRATIC SOCIALIST, COUP D'ETAT

David
Guest
David

Are you on some kind of drugs? Writing in caps makes me think that you are grumpy old fart or a uneducated hillbilly.