
Peter Thiel, founder of PayPal, donated $2.6 million to Endorse Liberty, a Ron Paul Super PAC. (Chip Somodevilla / Getty Images)
In two months, Peter Thiel, billionaire co-founder of PayPal, donated a combined $2.6 million to Endorse Liberty, a Super PAC supporting Ron Paul.
Each Republican Super PAC has its respective big-bank-account-backer, but Thiels contribution has people wondering why anyone would throw that much money at a candidate who hasnt won first place yet in a single state.
Simply put, when Thiel gave $900,000 in December and $1.7 million in January, he wasnt strictly endorsing Ron Paul he donated in support of Pauls libertarian ideals, Slate reported.
In an Endorse Liberty press release, Thiel explains why these principles of liberty and small-government are so important.
Too often in this country we learn things the hard way whether its putting your nest egg in overvalued stocks, borrowing more than your house is worth, or amassing a mountain of student debt to pay for a degree with no real job prospects, he said. With its unsustainable deficits, government spending is heading down the same path. Men and women who want freedom and growth should take action. A good place to start is voting for Ron Paul.
Endorse Liberty is a group of entrepreneurs and inventors who call for open, unhampered creativity, citing innovation as an economic engine. This organization is very much in line with what Thiel preached at the Students for Liberty conference on Feb. 17, Slate reported.
While addressing the students, he also spoke about the potential of libertarians to gain support. Thiels investment in the pro- Paul Super PAC is essentially an investment in the overall movement.
For the first time in perhaps 80 years, we have a chance to move the country in a more libertarian direction, with a less intrusive government, in both social and economic areas, he said.