Billionaire investor Peter Thiel is packing his bags and leaving Silicon Valley.
Thiel is relocating his home and personal investment firms to Los Angeles from San Francisco, while also dialing back association with the tech industry, according to The Wall Street Journal, which cited people familiar with his thinking.
A rare, but prominent conservative within Silicon Valley, Thiel’s relationship with the tech industry has soured, particularly at Facebook (FB). The venture capitalist, who has served on the company’s board of directors since 2005, was involved in a dispute with a fellow director due to his support for Donald Trump’s presidential campaign, according to the Journal’s sources, who also said a related confrontation over boardroom leaks with the social media firm’s founder and CEO Mark Zuckerberg last summer contributed to the strain.
“Silicon Valley is a one-party state,” Thiel said during a debate over politics and technology at Stanford University, his alma mater. “The other side doesn’t care for you, and your side doesn’t care for you because they don’t need to.”
The 50-year-old Thiel, who also served on Trump’s transition team, plans to move into a 7,000 square-foot home that he bought six years ago, which overlooks the Sunset Strip, and will move the headquarters of Thiel Capital and Thiel Foundation to Los Angeles, a personal familiar with the matter told the Journal.