hedge funds

Billionaire GOProud-Loving Gay Peter Thiel Is Losing His Friends’ Billions

Peter Thiel, the gay billionaire who was one of the original investors in both PayPal and Facebook, is losing everybody’s money. The same guy who’s helped raise cash for the American Foundation for Equal Rights, donated money to anti-gay political groups, and welcomed Ann Coulter and the GOProud gays into his home when he hosted Homocon is also leading Clarium Capital Management, a hedge fund that for the third straight year posted serious losses. From a high point of some $7.2 billion in assets, Thiel’s firm has seen its balance sheet slide 90 percent; in 2010 alone, its value dropped 23 percent following 2009’s 25 percent depreciation. (That still leaves Clarium with a 12 percent annual return when averaged over its lifetime, which began in 2002.) To be fair, Thiel doesn’t charge clients to manage money, just if he makes them money; he takes 25 percent cut of profits, which is more than the industry standard of 20 percent. But 25 percent of zero is, uh, zero. But since when did a net worth that had at least nine zeroes in it mean donations to anti-gay groups (and sometimes anti-gay gay groups) would come to a halt? [photo via]

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  • SouthSideShorty

    When, when, WHEN are you people who label yourselves as “tolerant” ever going to accept the fact that not all homosexual men and women are out to push the liberal envelope? You can’t cherry-pick who you’re “tolerant” of — tolerance is a broad and all-encompassing concept, not just another progressive buzz-word to hide behind, so enough with the bashing of people you don’t agree with. Live and let live, huh?

  • Jaroslaw

    Southside shorty: I get the tolerance part, in general, but not as it applies to this post. Why would any Gay group or Gay anything be “tolerant” of a billiionaire or anyone else for that matter, who gives to anti-Gay groups?

    Would you question a Rabbi who gave to Nazi’s of America or some similar anti-Jewish group? Does the NAACP donate money to the KLan?

    Please, oh please, explain yourself! :)

  • No, no, no

    No, SouthSideShorty, you don’t understand. *Some* gays get to decide the rules by which all gays are either authentic and good, or inauthentic and evil. Why do those gays get to decide? Perhaps because they are very, very loud. But at all events, in order to be a good, authentic gay, you must believe exactly what the very loud gays believe. And *that,* my friend — an absolutely blinkered unwillingness to accept any disagreement from a strict party line, labeling such diversity of opinion to be “self-hating” or “bigotry” or “hate” — is open-minded liberal tolerance.

    Get with it, son!

  • Draek

    American gays are obviously very conflicted within themselves. It’s almost as if noone knows which was is up or down when it comes to equal rights. Money is such a perversion it seems to dillute anyone’s moral ground.

    That’s probably a huge part of why gay rights are not advancing as fast as they could be.

  • Dennis

    When when WHEN will arrogant idiots like you realize that being actively discriminated against and denied equal protection under the law is NO fair test of any concept of ‘tolerance’?

    It’s a frickin cliche, but still apparently lost on you…should Jewish people willingly ‘tolerate’ neo-nazi skinheads? Should blacks tolerate the return of Jim Crow laws? Should we have to tolerate your stupidity? NO!

    GoProud gives money and support to political candidates who, if given access to power, will vote AGAINST equal rights and protections for LGBT persons. End of story.

    Don’t know if you are gay, but if you are and YOU don’t want equal protections, then YOU can hide in your home and refuse to fight for our rights, coward…because THE REST OF US deserve far better. Asshole.

  • TE

    While I can understand your point of view, we all simply have to stop the name calling in these posts. All of us need to take a step back and realize that while we have free speach, name calling is how the bullying begins. We as a community have to get to a point that we can say in our blog posts that “I disagree with your statements or opinions because …” Not calling people cowards, assholes, etc etc. What purpose does that serve?

  • Brendan Kissam

    It seems that Queerty’s envy is rearing its ugly head. It’s convenient that the article fails to mention the charities Peter donates to, as well as a full explanation of his political views. Have they considered that he may ‘pal around with anti-gays (which is automatically what you’re labelled if you disagree with redefining marriage)’ because he views progressivism and the destruction of America as more dangerous?

  • Dennis

    The purpose is to show a person who they are, to hold a mirror to them, and let them know that they do not NOW OR EVER dictate the reality of a situation with their ignorance…

    Sorry, but when someone advocates active discrimination against me, or insults the dignity of the fight for equal LGBT rights, I have little interest in being their “friend” or finding some nice, kind or gentle way to point out the extreme error of their thinking…if someone else has the patience to gently guide an idiot into reality, great for them! really, sincerely, good for you….I don’t have the energy or patience.

    Most often, however, I find that closed minded dolts have NO ability to engage in thoughtful discourse…so my comment’s function is to serve as a “STOP”, shut up and leave command….take your ignorance elsewhere, it’s not welcome or ‘tolerated’ here.

  • cls

    One must be careful, unlike writers for Queeerty, who smear first and ask questions later. It appears that some people use the term anti-gay not mean someone who is actually anti-gay or involved with an anti-gay campaign. They use the term to mean anyone who is not Left of center. So opposition to Obama’s health care measures makes you anti-gay. Refusal to kiss Pelosi’s behind makes you anti-gay. Etc.

    The reaility is that many self-proclaimed “gay leaders” are not gay leaders but toadies for the Democratic Party and its agenda and they will put gay people last, if the Party demands it.

  • Brendan Kissam

    @cls: You nailed it, CLS! Get in lock step with the Left, or you’re a Bigoted Hater ™!

  • justiceontherocks

    I don’t agree with Peter on the GOProud nonsense. I’m glad I don’t have any money with his hedge fund. But we should happily accept his contributions on the anti Prop 8 lawsuit and try to educate him on the other stuff later on. There’s no purity test on the money.

    Many times in life your friend in one situation is your bitter rival in another. Note “rival” not “enemy.”

  • gregger

    @SouthSideShorty: Sorry Shorty, this ASSHAT gives to Anti-Gay Groups. He pays that beast Ann Cunter oops sorry Colter to be a guest at Homocon. He is one of the stereotypical FAGGOTS that politicians think they can urinate on and still get money and votes.

    Anyone who treats the LGBT community like garbage deserves nothing but nothing but garbage back. Ann Colter has repeatedly treated the LGBT community like shit, so when she basically made fun of ALL OF US at in a paid speaking engagement in front of an exclusively LGBT audience people tend to get knackered up.

    Many of our people, LGBT, are too blind to see that discrimination is wrong and that being the redhaired stepchild never works.

  • Jaroslaw

    CLS while I agree that large numbers of people head up organizations/run for office/whatever – – for a pay check first and principle second, and even though there is a lot of truth in what you say; do you (I assume, a Gay Person)really really really think you’ll do better with the Republicans than the Democrats?

    What I see is at least sometimes Democrats think independently. I NEVER see that with Republicans. The party became pro-life, everybody changed their views. Many many many, George Bush the younger included were prochoice previously.

    And as always, both parties are essentially worthless self serving pieces of dung otherwise we would have healthcare and they (congress) wouldn’t have their own pension plan. They would be in Social Security like the rest of us. Among other things…

  • SouthSideShorty

    The tired old metaphore of comparing conservatives/gays to Nazis/Jews is, at best, desperate, and at worse, petulant.

    Just because someone wants to keep marriage an exclusive club, that doesn’t mean they hate us. Just because some church groups preach against us doesn’t mean all church groups do. You might be surprised by how many Tea Partiers are totally cool with us. Strive for a little more knowledge, and acceptance comes naturally.

    Arguing with phantoms on a computer screen does no one any good.

  • gregger

    @SouthSideShorty: Just because someone wants to make sure you may not have equal rights; inheritance, domestic (ie; where and how you live), military, personal safety, banking, and calls you perverts doesn’t make them your friends, someone you should give monies to, anyone you should vote for. I don’t understand why anyone would do the things Peter Thiel has done and continues to do. I also cannot understand why anyone would defend his counterproductive actions.

    I refuse to be a third class citizen.

  • Dennis

    “Just because someone wants to keep marriage an exclusive club, that doesn’t mean they hate us.”

    Just like bigots who’d like to keep their country clubs race restricted, right? They don’t “hate” blacks or jews, they just don’t want to be around them, that’s all…Exclusive clubs that like to discriminate against others are good things in your world, right? It’s all innocent fun, and nobody pays a price, right? Bullshit.

    “You might be surprised by how many Tea Partiers are totally cool with us.”

    How many, exactly? Enlighten us…Most? The vast majority? Whole lotta rainbow flags at Tea party events that the TV cameras don’t see? Just like ‘most’ elected republicans are such staunch champions for LGBT rights? What EXACTLY has the Tea Party done to advance LGBT rights?

    The more you speak, the more you incriminate yourself. If the world were as the republicans and Tea Party wished, sodomy laws would be on the books in 50 states, we would have NO gay marriage or domestic partnerships, no anti-discrimination protections, etc. Gay people would suffer more violence, more hatred and abuse, and more discrimination.

    So, choose your fat wallet over the rights of your fellow LGBTs, and be in denial about the actual anti-gay stances in the leadership of tea party/repub organizations…hey, it’s a free country…but on this site, you get called out as a traitor to LGBT advancement.

  • SouthSideShorty

    Seriously — traitor?? Hardly. Like Peter Thiel, I’m simply more interested in my country’s financial survival than in whether or not I can marry another guy. Call me whatever you will, but I believe that putting more focus on one’s self than one’s fellow man is self-centered. So rather than playing the role of society’s perpetual victims, shouldn’t we instead concentrate more on showing our strengths and gaining respect?

  • Dennis

    Yes, seriously…traitor. You ought to know what you are. Hug your wallet, stay in your safe zone and do NOTHING to advance anyone else’s rights, or protections, or full citizenship and societal participation…and, AS IF teabaggers or rethuglicans have the best answers for our country’s myriad, complicated financial issues, HA! Tax cuts for the rich, blah blah blah…

    How you sleep at night is beyond me…not that I give a rat’s ass about your comfort or well-being, as you apparently don’t care about anyone else’s.


  • Jaroslaw

    Southside Shorty – I actually agreed with you 30-40% and I’m the one you don’t answer. OK, whatever.

    Watch “Saving Marriage” the behind the scenes story of how marriage equality came about there. (avail from Netflix) it was a TON of work, people having house to house meetings, meeting directly with their legislators. Most importantly perhaps legislators who did what was right, even to the point of risking their seats (something rare I think in my and most states)

    But….. I digress. There was a beautiful lesbian there, very calm, eloquent speaker; and she would heartily disagree with you. Working full time for marriage equality (which few here can claim) she said “looking out at all the signs” (at the protests) she said those people disagree/hate (I forget which word) with GAY PEOPLE, not Gay marriage. I venture to presume she debated with a lot of them too.

    Yes time heals eventually, but there is a lot of work in between then and now.

  • Jaroslaw

    sorry, ADD the story of how marriage equality came about in Massachussetts

  • Jaroslaw

    PS SSS – didn’t a leader of the tea party have to step down within the last couple months because of anti-gay remarks?

    And seriously, all these people who want “accountability” in government etc. WHERE THE HELL were they the 8 long years George Bush was shredding the Constitution with all the illegal wiretaps and Patriot act nonsense?

  • Jonathan

    @Draek: Bingo – we have a winner.
    I’ve known many conservative gay people, I grew up in Florida, and they vote their wallets. Their first thought isn’t “will my donation improve my quality of life as a gay man” (or lesbian) but it reflects their desire to vote on tax rates. Peoples political affiliation is more determined by their parents than their sexuality.

    I only care about their voting Republican when it affects me and other gay people. Giving to a party that has demonized gay people for years seems very selfish and greedy to me, but hey, it’s their money and if they wish to vote against themselves then so be it.

    Would I have such people as friends? Depends. Are they interesting, polite and humorous? Then yes. If they’re strident, obnoxious, greedy assholes, of course no.
    The same would be true in reverse. I’ve met some true assholes that were liberals as well.

    There are Gay TEA party people. Discuss!

  • Jonathan

    @cls: There is a group think to liberals, however, for all of you that are gay, you should thank them. Without them you would have no life. So give some credit where credit is due.

    Now, to answer Brendan, Yes, there are gay Democratic toadies as there are gay GOP toadies (GOProud, Gay Patriot, and then the Log Cabin Republicans)

    We’re people and we are as diverse as the places and people we come from. Think before you speak, the left isn’t all that evil and the GOP is being taken over by Christian extremists. For that reason I’m glad gay people are in the GOP. It provides a balance to the GOP they haven’t had in some time.

  • Jonathan

    @Brendan Kissam:
    “Have they considered that he may ‘pal around with anti-gays (which is automatically what you’re labelled if you disagree with redefining marriage)’ because he views progressivism and the destruction of America as more dangerous?”

    What definition of marriage would you prefer? One that treats you without regard and unable to legally protect yourself when you are partnered? Are you gay? I kind of doubt it.

    Destruction of America? WHAT ever.

    When the GOP and GOProud start sending you love letters, be sure to let us know. When I hear gay people sneering at liberals I have to assume they haven’t thought this through. You don’t have to be a Democrat, but you also don’t have to be a Republican.

    If you are gay and giving money to very anti-gay candidates then there will be people who look at you with contempt and disdain. It’s deserved.

  • Dan

    @SouthSideShorty: Yes, you are a traitor. You might not think so like your GOProud peers, but you are. Clearly!

  • SouthSideShorty

    Oh yeah, that’s right — I forgot that Barack Obama, that pillar of the Left, has stated repeatedly that he believes marriage should be exclusively between a man and a woman. What a champion of gay rights he is.

  • Jaroslaw

    Enough with the I VOTE REPUBLICAN for financial reasons crap. How come we’ve had surpluses under Democrats and deficits under Republicans? For just one thing; apparently everyone forgot how much wars cost (like a billion dollars a day?) AND we are NOT taking care of our disabled veterans like we should when they return home, a HIDDEN cost.

    I don’t know anyone who wouldn’t like their taxes reduced, but we’ve actually been borrowing from China DAILY, they de facto “own” this country, so in many ways, we haven’t paid ENOUGH taxes. Look at how much bigger houses are for the average family compared to the 50’s and 60’s. Every new house has at least 2.5 baths. We are living beyond our means. So this tax cut talk is truly nonsense.

    #28 SSS – Barak Obama he’s entitled to his opinion. He had to say that to get elected and he also said he believes Gay couples should have all the rights of any other couple. Which is more than you’ll ever get from a Republican. Until the wind changes significantly enough, as I already said.

  • tallskin2

    We have the same problems with conservative gays in the UK. They keep themselves hidden and say it’s none of anyone’s business if I am gay or not and they refuse to help change anything.

    Then when it’s all clear and the Left have changed all the discriminatory laws (against considerable resistance from these arseholes) they all pop up like reeking Stinkhorn mushrooms, all bright eyed and bushy tailed, and say: “Look at me, I’m gay, aren’t I brave for coming out!”

    And the conservative press laud them for their bravery.

    They make me sick.

  • Jaroslaw

    I forgot to mention, there was an article at tax time last year in The Nation – The tax burden on the wealthy has fallen steadily since the 70’s. While I would agree The Nation is far left, either it is a fact that the tax rates on various brackets have come down or not. Capital Gains tax rates is less now than in the 50’s or it isn’t. I tend to think this info is rather objective. And again, Republicans, don’t tell me what I already know – the rich pay most of the taxes. Yes, they do. Why wouldn’t they if they have most of the money? Isn’t the ratio something like 5% of the people have 95% of the money? Also, in the 1960’s Corporations paid 1/2 of all taxes, now it is about 10%. Think also, for social security taxes- a “poor” and middle class person pays social security on his whole pay check while witholding on rich people stops at 750K or something like that. Why don’t they pay on the whole amount? They also have all kinds of income that is not subject to many taxes, like annuities. While I certainly think people should be rewarded if they start a successful business etc. after a certain point, I just don’t know why people need 10 million dollar annual salaries. Can you have more than one wife? sleep in more than one bed? Drive more than one car at a time?

  • Tom in Lazybrook

    @SouthSideShorty: Exactly how is our nations financial survival related to marriage equality? Why can’t GOProud support it? Never mind.

    And for that matter, how do tax cuts for billionaires help balance the budget?

    A previous poster called you a traitor. I’d just call you Roy Cohn, Jr.

  • joe cole

    @tallskin2: it makes you sick that gay people would support conservatives because they are opposed to gay rights does it also make you sick when gays support black and muslims sinc ethey too oppose gay rights

  • tjr101

    @joe cole: “it makes you sick that gay people would support conservatives because they are opposed to gay rights does it also make you sick when gays support black and muslims sinc ethey too oppose gay rights”

    That’s a pretty dumb comparison, you do know there are gay blacks and muslims right? And the majority of them don’t make contributions to anti-gay candidates thus damaging gay rights.

    Look, Peter Thiel and the gay conservatives can do whatever they want, but they should expect to be called out for their selfish behavior. The mantra by gay conservatives that they vote Republican for fiscal reasons is a lie since Republicans haven’t been able to balance a budget and leave office with a surplus in the last 30 years.


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  • Nige

    What a nutter. This bloke is one mixed up idiot.

    Obviously the money has corrupted his brain.

    Being gay and giving money to anti gay groups !!!!

    None of it will ever affect him in his ivory tower

    I wouldnt shag him , looks like a right wing old fart
    who would rather stick his cock in a toilet glory hole.

  • Nige

    Peter Theil is known in the UK as The Gay Man that Gay’s Hate.

    He should come to a gay club in the UK. He would be lynched !

    He’s nearly hated as much as the Homophobic Nazi Pope !

  • Flayer

    Not agreeing with “gay marriage” or teaching 1st graders all about homosexuality does NOT make you anti-gay. I don’t accept that premise. And quit using the Jews/Nazi or skinhead analogy. American Jews overwhelmingly support the Democrat Party, yet the home of most anti-Semitism is on the Left-wing of the Democrat Party. One CAN be both accepting of gays and against “gay marriage.” One question that is meant quite respectfully, please: the so-called homosexual lobby who daily excoriztes conservatives now wants to participate in one of the most conxervative, religious institutions in human history. i’m talking about holy matrimony. All other aspectts of the “life” is lived in a very liberal, no -conforming way…yet suddenly there seems to be a big interest in marriage. Thanks.

  • Ganondorf


    How can one be accepting of gays and opposed to gay marriage (or the access to the right)? How is this possible? You provide no argument or reasoning to substantiate what amounts to an assertion of faith. Do you know what an argument is? Do you understand what it is to defend a positive claim that you have made? I anxiously await your “thinking” in the justification of your belief that one can be accepting of gays and opposed to their civil equality under the law.

    Peter Thiel is a quite simply a cancer. However, he’s a very small fish.

  • oliver

    I hear that Peter Thiel is getting married in 2012…spending millions of dollars on a wedding that is going to span more than one continent.
    Anyone know any further details?

  • rjp3


    They are free to do whatever they want – but when they spend MILLIONS fighting gay equal rights to elect candidates that they purchase to reduce taxes on their fortunes (when taxes are already at historical LOW rates) — we as free Americans straight and gay get to be critical and call out the behavior as every true negative that it is.

  • rjp3

    @Ganondorf: He is a selfish elitist that only cares about his pocketbook — and is happy to reduce progress that would help millions as long as he can elect candidates that will fight for tax deductions during a war.

    Not one of the good men.

  • Patty

    Too bad he is gay. He could be my Christian Grey with blue eyes.

  • Brady Shackelford

    The article states that he donated to anti-gay groups, but what the article did not say is whether or not those groups are solely anti-gay or multiple-agenda groups. Peter Thiel can still support the multiple-agenda groups even if one of their positions are anti-gay because he may support the rest of their positions. It’s like voting for a president in which you agree with only 90% of his or her positions. Just because there is one position that your favorite candidate doesn’t support doesn’t mean that you have to cut off all support for that candidate.

  • Bruce Majors

    One suspects this article is mendacious, probably because of the reporter’s blinders. I doubt Theil gave money to an anti-gay group like NOM or the Westboro Baptist Church.

    He probably gave money to some pro-limited government group or candidate who inconsistently advocate the freedom to contract in general, except for marriage contracts. Groups that mainly work on issues like debt and taxes and spending, but also have as an issue they are devoting almost no time to, support of traditional government-defined marriage.

    Lots of people give money to a group or candidate because they support the top 3 issues the group or candidate works on, while disagreeing with them about some other issue.

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