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Peter Thiel has proven that he knows a good idea when he sees one. He invested in Facebook when it was just a dorm-room operation and helped start up PayPal only to sell it to eBay months later for $1.5 billion.
Thiel’s latest endeavor is making waves online after a profile in Details magazine has revealed that the billionaire with ties to the Bilderberg group has put $1.25 million towards developing a floating island of sovereign nations free of rules and regulations.
Peter Andreas Thiel (born 1967) is an American entrepreneur, hedge fund manager, libertarian and venture capitalist of German descent. With Elon Musk and Max Levchin, Thiel co-founded PayPal and was its CEO. He currently serves as president of Clarium Capital, a global macro hedge fund with under $700M in assets under management, and a managing partner in The Founders Fund, a $275 million venture capital fund that he launched with Ken Howery and Luke Nosek in 2005. He was an early investor in Facebook, the popular social-networking site, and sits on the company’s board of directors. Thiel was ranked #365 on the Forbes 400 in 2010, with a net worth of US$1.5 billion. However, this number now underestimates his wealth as his Facebook share alone, at a 2010 valuation, is worth US$1.7 billion.
Thiel is listed as a member of the Steering Committee of The Bilderberg Group, a controversial group of influential business and government leaders who meet annually behind closed doors under a media blackout to discuss world issues.
The Seastead Institute has been trying to get investors to back them for years now. It’s the grand-plan of Patri Friedman, who wants to launch the first free-floating flotilla of oil-rig-resting offices off the Pacific Coast in 2012. By 2050, Friedman hopes to have millions of seasteaders residing within a frontier crafted “for experimenting with new ideas for government.” Beyond the laws of the land, those residing on the movable structures will be able to start anew, incorporating libertarian-minded agendas that’ll rescind restrictions and allow man to make a modern world without, well, The Man.