Peter Thiel, the conservative Silicon Valley billionaire, has been secretly funding the defamation lawsuit brought by Hulk Hogan against Gawker Media, Forbes reported on Tuesday.
Citing “people familiar with the situation,” Forbes wrote:
“Peter Thiel, a PayPal cofounder and one of the earliest backers of Facebook has been secretly covering the expenses for Hulk Hogan‘s lawsuits against online news organization Gawker Media. According to people familiar with the situation who agreed to speak on condition of anonymity, Thiel, a cofounder and partner at Founders Fund, has played a lead role in bankrolling the cases Terry Bollea, a.k.a. Hogan, brought against New York-based Gawker. Hogan is being represented by Charles Harder, a prominent Los Angeles-based lawyer.”
Thiel declined to comment to Forbes on the report.
Thiel is known as an Ayn Rand-style libertarian who funds young people to skip college and embrace entrepreneurship.
He has expressed venom toward Denton properties before. Gawker attempted to out Thiel, who is gay, in 2007 before he came out. In 2009, Thiel was quoted as saying, “Valleywag is the Silicon Valley equivalent of Al Qaeda.”
“My own personal hunch is that it’s linked to Silicon Valley, but that’s nothing really more than a hunch,” he said. “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.”
Gawker Media has issued the following statement: “According to these reports, a board member of Facebook and a major funder of The Committee to Protect Journalists has been secretly funding a legal campaign against our journalists. We trust the appeals court will correct the outsized Florida jury verdict and reaffirm the law that protects a free and critical press, which is more embattled and important than ever.”
Hulk Hogan Timeline: From Hulkamania to Gawker Sex Tape Trial (Photos)
Hulk Hogan was born Terry Bolea and attended high school in Tampa, Fla.
Thomas Richard Robinson High School
Hogan broke into the wrestling business in the late 1970's, working under names like Terry Boulder.
WWE
Hogan and his 24-inch pythons ran wild when Hulkamania swept the globe in the 1980's.
WWE
Hogan shocked the world when he bodyslammed the 520-pound Andre the Giant at Wrestlemania III.
WWE
Hogan's movie debut was in "Rocky III" as Thunderlips, a wrestler Rocky takes on at a charity event.
MGM
Hogan later starred alongside Christopher Lloyd in "Suburban Commando," one of many critical and commercial bombs Hogan was involved in.
New Line
Hogan admitted to taking steroids while testifying during a federal trial against WWF owner Vince McMahon. Hogan denied McMahon supplied or forced him to take the steroids, resulting in McMahon's acquittal.
WWE
Hogan left WWF and competed in WCW from 1994 to 2000. While there, he teamed with Scott Hall and Kevin Nash to form the infamous New World Order.
WWE
Hogan returned to WWF in 2002 and faced off against The Rock at Wrestlemania X8.
WWE
Hogan starred in "Hogan Knows Best," a reality show with his family, from 2005 to 2007. The show was abruptly cancelled after Hogan's wife, Linda Claridge, filed for divorce when she discovered Hogan cheated on her during filming.
VH1
A few months prior to the divorce, Hogan was harshly criticized after his son was sent to jail for reckless driving that left a friend with irreversible brain damage. Tapes released by local police revealed Hogan and his son blaming the victim during a phone call and planning to capitalize on the crash with a reality TV deal.
Clearwater PD
Hogan moved to TNA Wrestling in 2010, immediately becoming a major character in the promotion. He returned to WWE in 2014.
TNA
A clip from a sex tape featuring Hogan and Heather Clem, ex-wife of Bubba The Love Sponge, is published on Gawker in October 2012.
Getty Images
After returning to WWF, now called WWE, in 2014, Hogan was fired in July 2015 after a racist rant from his sex tapes was released by the National Enquirer.
WWE
On March 7, the trial between Hogan and Gawker began. Hogan is suing Gawker for $100 million in damages, accusing the outlet of invasion of privacy.
AP
On March 18, Hogan was awarded $115 million (more than the amount he was seeking) after a ten-day trial and less than a day of deliberation by the jury.
Getty Images
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Hogan’s turbulent career and personal life has put Hulkamania through the wringer
Hulk Hogan was born Terry Bolea and attended high school in Tampa, Fla.