Jump to content
The World News Media

Silicon Valley Entrepreneur Peter Thiel, a Trump Supporter, Is Reportedly Funding Lawsuits Against Gawker Media


Recommended Posts

  • Member

Paypal co-founder and Facebook board member Peter Thiel is reportedly paying for Hulk Hogan’s lawsuits against Gawker Media, according to Forbes.

Gawker founder Nick Denton was not surprised by the development, telling the New York Times Tuesday he had a “personal hunch” that Hogan’s financial assistance could be coming from someone in Silicon Valley.

Photo by Neilson Barnard/Getty Images for New York Times

Photo by Neilson Barnard/Getty Images for New York Times

“If you’re a billionaire and you don’t like the coverage of you, and you don’t particularly want to embroil yourself any further in a public scandal, it’s a pretty smart, rational thing to fund other legal cases,” he said.

“Third-party litigation funding” is not illegal and has in fact become more popular in the United States. Hogan’s connection to Thiel, who is worth $2.7 billion, is unclear, according to Forbes, though. Thiel is the only outside financial backer of the lawsuits against Gawker, but it is not yet known if the entrepreneur will see any of the $140 million won by Hogan in March.

But Thiel’s motivation may be about much more than money. Thiel, who is gay, has been open about his issues with Gawker, which tried to leak details about his sexuality before he publicly announced his orientation, Forbes reported.

In a 2009 interview, Thiel told PEHub that the since-shuttered Valley-centered publication Valleywag, a defunct Gawker project, had the “psychology of a terrorist.”

“Valleywag is the Silicon Valley equivalent of Al Qaeda,” he said at the time.

Hogan, whose real name is Terry Bollea, originally brought a lawsuit against Gawker for leaking a sex tape, claiming the organization violated his privacy. He was awarded a total of $140 million in the trial. But when asked why he felt the lawsuits’ funding was coming from the Valley, Denton said it’s because Gawker has recently focused on exposing the tech industry.

“We write stories about powerful people in New York, but there are plenty of outlets writing stories about powerful people in New York,” he told Forbes. “We write stories about powerful people in L.A., but there are plenty of outlets writing stories about powerful people in L.A. What’s unique about Gawker is that we’re an Internet publication and the tech industry is of particular interest to us. There are powerful people in Silicon Valley and the power of Silicon Valley is a relatively new phenomenon.”

As a result of the Hogan lawsuits, Gawker has been ordered to pay $15 million and Denton must personally pay $10 million. Additionally, A.J. Daulerio, the former editor of Deadspin, where the sex tape was first published, must pay Hogan $100,000.

Follow the author of this story on Twitter:

Read more stories from TheBlaze

‘Frozen’ Actress Responds to Campaign Urging Disney to Make Elsa a ‘Lesbian Princess’: ‘I think It’s Great…’

High School Graduates’ Defiant Response to Atheists’ Demand That the Lord’s Prayer Be Stripped From Commencement — and the Rousing Applause That Followed

Glenn Beck Predicts Pedophilia is the ‘Next Stop on This Train’

Trump: I Don’t Know Enough to Discuss, but Suicide of Former Clinton White House Aide ‘Very Fishy’

‘Way to Show Discipline at West Point’: Cadet Blasted After Video Shows Her Marching to Graduation — but Focused on Something Else Entirely


Link to comment
Share on other sites

  • Views 340
  • Replies 0
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing

    • No registered users viewing this page.
  • Popular Contributors

  • Topics

  • Posts

    • Hordes of small and mid-size banks are now in trouble, and that is really bad news because those institutions issue most of the mortgages, auto loans and credit cards that our economy runs on.  The other day, I asked my viewers to “imagine what our country will look like if the banking system implodes and the economy plunges into a depression”, because if our banks continue to collapse that is precisely where we are headed. JPMorgan Chase & Co analysts estimate that the “most vulnerable” U.S. banks are likely to have lost a total of about $1 trillion in deposits since last year, with half of the outflows occurring in March following the collapse of Silicon Valley Bank. There are more than 4,000 banks in the United States right now, and the vast majority of them are rapidly losing deposits. As a result, U.S. banks are being forced to turn to the Fed for help at a very frightening rate… Banks have been flocking to emergency lending facilities set up after the failures of SVB and Signature. Data released Thursday showed that institutions took a daily average of $116.1 billion of loans from the central bank’s discount window, the highest since the financial crisis, and have taken out $53.7 billion from the Bank Term Funding Program. Meanwhile, the banking crisis in Europe has taken another very alarming turn. Deutsche Bank shares fell on Friday following a spike in credit default swaps Thursday night, as concerns about the stability of European banks persisted. The Frankfurt-listed stock was down 14% at one point during the session but trimmed losses to close 8.6% lower on Friday afternoon. The German lender’s Frankfurt-listed shares retreated for a third consecutive day and have now lost more than a fifth of their value so far this month. The emergency rescue of Credit Suisse by UBS , in the wake of the collapse of U.S.-based Silicon Valley Bank, has triggered contagion concern among investors, which was deepened by further monetary policy tightening from the U.S. Federal Reserve on Wednesday. But what is going to happen to our economy when the flow of mortgages, auto loans and credit cards is greatly restricted? Our country is already being torn to shreds like a 20 dollar suit, and economic conditions are still relatively stable. So what is going to happen when we do fall into a very deep economic depression? These are such perilous times, and they are only going to get more difficult in the months ahead.
  • Members

    • derek1956

      derek1956 161

      Last active:
  • Recent Status Updates

  • Forum Statistics

    • Total Topics
    • Total Posts
  • Member Statistics

    • Total Members
    • Most Online

    Newest Member
  • Create New...

Important Information

Terms of Service Confirmation Terms of Use Privacy Policy Guidelines We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.