Tech billionaire Peter Thiel won’t be involved in President Donald Trump’s reelection campaign, The Wall Street Journal reports.
The co-founder of PayPal Holdings Inc., has told friends and associates he plans to sit out this election because he thinks Trump’s chances of reelection are a long shot, according to people familiar with his decision.
Thiel spoke at the Republican National Convention in 2016. He praised Trump as the president who would rebuild America. He also donated $1.25 million to the Trump campaign and related groups, the Journal reports.
But recently, people close to Thiel said he isn’t a fan of Trump’s odds in November.
Thiel doesn’t plan to speak at this year’s RNC and he hasn’t donated any money to Trump's reelection coffers, sources told the Journal.
But, they said Thiel may still vote for Trump.
Even though Thiel’s support of Trump has waned, he also isn’t enamored by Joe Biden. Sources said Thiel thinks Biden is too closely aligned with traditional liberal beliefs.
Instead of spending money in the presidential race, people close to Thiel said he will spend millions of dollars on races in the House and Senate. They said he will focus on congressional races as a way to keep at least one branch of government under Republican control, according to a source familiar with his campaign contribution plan.
“His biggest concern is that if people vote down the ticket, everything flips in one direction,” said one person familiar with the plan.
Thiel also funds his own political action committee, Free Forever, which states it is committed to limiting immigration, ending wars and adding jobs for working-class Americans.
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