Billionaire investor and PayPal co-founder Peter Thiel says he plans to support President Donald Trump’s 2020 re-election bid.
Thiel, who has invested in Facebook and sits on the company’s board, warned of the dangers of socialism and predicted Trump will win if Americans believe economic conditions will continue to improve.
In the end, Thiel said in an recent interview with author Peter Robinson on Fox Nation’s “Uncommon Knowledge,” it’s going to come down to whether people think the nation’s economy can keep growing at a 2-3 percent rate each year for the next 10 years.
“The president will get re-elected if people believe that this sort of growth is going to be sustainable for the next decade,” Thiel said.
That being said, he doesn’t believe Trump’s victory is a sure thing.
“The socialists are not to be underestimated,” Thiel added, arguing that low interest rates could potentially lead to people embracing the idea of redistribution of wealth.
“It doesn’t mean that zero percent interest rates lead us to socialism, but I find it alarming that the rates are as low as they are.”
“Do you expect to endorse him?” Robinson asked Thiel, referring to Trump.
“Yes,” the billionaire investor replied. “I certainly will not endorse any of his opponents.”
Thiel’s words are not all that surprising, as the billionaire previously spoke out in support of Trump at the 2016 Republican National Convention.
“Fake culture wars only distract us from our economic decline, and no one in this race is being honest about it except Donald Trump,” Thiel said in his speech, as Fortune reported.
“I am proud to be gay. I am proud to be a Republican. Most of all, I’m proud to be an American,” he said.
That October, The New York Times reported Thiel was set to donate $1.25 million in support of Trump’s election.
Trump is not the only Republican candidate Thiel has supported. Earlier this month, he hosted a fundraiser for former Kansas Secretary of State Kris Kobach, who is running for Senate, according to Mediaite.
But while Thiel isn’t shy about supporting Republicans, he also decried what he called the “deeply adversarial” political process.
“I would like us to be honest about how terrible politics is,” he said in his Fox Nation interview. “As someone who is generally libertarian, I would like to live in a world that is less conflict, less politics.”
“I think we must always resist this naive form of politics,” Thiel said, “that politics is just this mechanistic process where we take a poll and we get to some syrupy answer that everyone can agree with. … That’s not what politics is about at all.”
Truth and Accuracy
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.