Palantir Co-Founders Thiel, Lonsdale Back Trump In 2024 Election: "I'd Rather Have Him...Than Biden'

Author: Chris Katje | June 28, 2024 03:42pm

More business leaders are speaking out on politics, with a growing number in Silicon Valley and the technology sectors backing Donald Trump over President Joe Biden in the 2024 election.

Two Palantir Technologies Inc (NYSE:PLTR) co-founders both pledged support to Trump this week.

Peter Thiel Voting For Trump: Palantir co-founder and venture capitalist Peter Thiel was asked about his support in the 2024 election, which comes after previous financial support for Trump.

"If you hold a gun to my head, I will vote for Trump," Thiel said at the Aspen Ideas Festival. "I'd rather have him…than Biden."

Thiel was previously a firm supporter of Trump and spoke in support of him at the 2016 Republican National Convention. Thiel donated over $1 million to Trump for the 2016 election, according to reports.

"I'm gonna be less involved in all these ways."

Thiel said he would not be donating to Trump's super PAC (political action committee).

"I think Trump will win. I think he will win quite solidly. I don't think it's even gonna be close."

Thiel said there would be a lot of buyer's remorse if Trump wins as elections are A/B tests.

The Palantir co-founder said he can't make a pro-Trump argument, but said he would be able to come up with an anti-Biden argument.

A falling out ahead of the 2020 election and a heated phone call with Trump that came to light in recent months show that the relationship between Thiel and Trump has soured over the years.

Thiel was a large donor to the Republican party in 2022, listed as the fifth largest individual donor and 11^th largest donor overall for the 2022 election according to a report.

Thiel is the co-founder of Palantir, PayPal and the Founders Fund. Thiel is a member of the board of directors of Palantir, which could make his support a spotlight on the company he co-founded. Palantir regularly wins government contracts and a win by Trump could be beneficial to Palantir if Thiel and Trump repair ties.

The Trump administration ended up being "crazier" and "more dangerous" than expected, Thiel said in an interview.

"There are a lot of things I got wrong."

Joe Lonsdale Backs Trump: Palantir co-founder Joe Lonsdale pledged his support to Trump in a recent opinion piece with The Economist.

Lonsdale, who is no longer involved with Palantir, said the biggest reason to back Trump is that we have seen both men in office already.

"To me, an entrepreneur who also works on policy around the country, the choice is clear," Lonsdale said. "Biden is incompetent and radical."

The venture capitalist said voters, including entrepreneurs and business leaders, can compare the records of Trump and Biden from their times in the White House.

"More and more prominent wealth-creators are warming to support Donald Trump, declaring it publicly and writing cheques."

Lonsdale alleges the criminal trial against Trump for falsified business records was a "coordinated attack to interfere in the election."

"The only candidate in this race whose administration is likely to restore competence to government is Mr. Trump."

Biden's student loan and first-time home buyer credits don't receive high marks from Lonsdale, who says the policies are being done to "use some people's money to buy other people's votes."

"As a co-founder of Palantir, a data-analytics firm created to help dismantle groups like al-Qaeda, I find Mr Biden's foreign-policy debacles particularly galling."

Policies on immigration from Biden are also criticized in the op-ed by Lonsdale.

In his piece, Lonsdale also mentions the backlash that Thiel received in the business community for previously supporting Trump. Lonsdale names several business leaders who backed away from Trump after the 2020 election and the Jan. 6 U.S. Capitol riot are returning to support him again.

Photo: Peter Thiel, by Mark Reinstein on Shutterstock

Posted In: PLTR