Peter Thiel is a famous entrepreneur and investor, best known as a co-founder of PayPal. He is part of the “PayPal Mafia,” a group of early PayPal employees who later built other successful tech companies. Besides PayPal, Thiel also started Palantir Technologies, a company that creates software for analyzing big data.
Thiel’s Early Life and Education
Peter Thiel was born on October 11, 1967, in Frankfurt, Germany. His family moved to the United States when he was just a year old. They lived in several places before settling in Foster City, California, in 1977. As a child, Thiel loved reading science fiction and was very good at mathematics. He later studied philosophy at Stanford University and earned a law degree from Stanford Law School in 1992.
The Birth of PayPal and Thiel’s Rise to Wealth
After working briefly as a lawyer and a trader, Thiel returned to California in 1996, just as the internet boom was beginning. He co-founded a company called Confinity, which later became PayPal in 1999. PayPal quickly became popular, allowing people to send money online easily. In 2002, eBay bought PayPal for $1.5 billion, making Thiel very wealthy. His share of the sale was worth $55 million.
Thiel didn’t stop there. He invested in Facebook in 2004, buying a 10% stake in the company for $500,000. This investment turned out to be hugely profitable, earning him over $600 million when he later sold his shares.
Palantir and Other Investments
Thiel also founded Palantir Technologies, which helps governments and businesses analyze large amounts of data. He remains the chairman of Palantir today. Over the years, he has also started and invested in many venture capital firms, including Founders Fund, Valar Ventures, and Mithril Capital Management.
Thiel’s Luxury Private Jet
With a net worth of around $11.5 billion, Thiel enjoys the luxury of flying in his own private jet. He owns a Gulfstream G550, a high-end business jet known for its long range and comfort. His aircraft, registered as N878DB, is officially owned by Thorondor LLC, a company named after a character from J.R.R. Tolkien’s books—Thiel is a big fan of Tolkien.
The Gulfstream G550 can fly up to 7,770 miles without stopping, meaning Thiel can travel across continents with ease. Some of his most frequent flight destinations include:
- Los Angeles (LAX)
- San Francisco (SFO)
- Palm Beach, Florida (PBI)
- Fort Lauderdale, Florida (FLL)
- Teterboro, New Jersey (TEB)
- Kauai, Hawaii (LIH)
A Look at the Gulfstream G550
The Gulfstream G550 is a top-tier business jet that was produced between 2004 and 2021. It can carry up to 14 passengers and has a luxurious cabin with a spacious interior. The aircraft is powered by two Rolls-Royce BR710 engines, allowing it to fly at speeds of Mach 0.885 (630 mph) and reach a height of 51,000 feet.
Many other famous people, including Elon Musk, Oprah Winfrey, and Tiger Woods, have also owned a Gulfstream G550. Large companies like American Express, Coca-Cola, and PayPal have used it for business travel.
Thiel’s Legacy
Peter Thiel has built a lasting legacy in the tech world, from co-founding PayPal to making smart investments in companies like Facebook. His success has allowed him to enjoy a life of luxury, including owning a top-of-the-line private jet. Even as he continues to build and invest in new companies, his impact on the business world remains strong.