Billionaire Thiel Bankrolls Hogan’s Case Against Gawker
- Gawker had outed Thiel’s homosexuality in an article in 2007
- Hogan sued Gawker in 2012 over publication of sex tape
Billionaire Thiel Bankrolls Hogan's Gawker Lawsuit
The billionaire investor and Facebook Inc. board member Peter Thiel secretly helped bankroll the defamation case that resulted in a $140 million verdict against Gawker Media LLC, threatening its very existence.
Thiel, the libertarian-leaning venture capitalist who co-founded PayPal, made a financial contribution to the suit brought by former pro wrestler Hulk Hogan against Gawker, according to a person with knowledge of the matter. The billionaire confirmed his involvement, the New York Times reported, citing an interview with Thiel. Hogan, whose given name is Terry Bollea, sued the media and celebrity-focused website in 2012 over the publication of a tape showing him having sex with a friend’s wife, claiming the publication cost him endorsements and inflicted emotional harm.