President Trump’s most distinguished Silicon Valley supporter, billionaire Peter Thiel, has informed mates and associates that he plans to sit down out this yr’s presidential marketing campaign as a result of he thinks re-election is more and more a protracted shot, folks aware of the matter say.
Mr. Thiel, a enterprise capitalist and co-founder of PayPal Holdings Inc., spoke at the Republican National Convention in 2016, the place he criticized the state of the economic system and described Mr. Trump as a person set to rebuild America. One of many few tech leaders to publicly back Mr. Trump that yr, he additionally donated $1.25 million to the Trump marketing campaign and associated teams.
In latest weeks, nevertheless, in non-public conversations from his oceanfront property in Hawaii, Mr. Thiel has mentioned he soured on the president’s prospects, the folks mentioned. Mr. Thiel mentioned he believes it’s doubtless that the economic system will likely be mired in deep recession in November, with double-digit unemployment, and that any sitting president can be at a stark drawback to a challenger.
Mr. Thiel doesn’t at present plan to talk at this yr’s Republican conference, scheduled for Aug. 24-27, one of many folks mentioned. Although he might ultimately nonetheless vote for Mr. Trump, Mr. Thiel hasn’t donated any cash to Mr. Trump this yr and at present doesn’t plan to, the folks mentioned.