In a quote that was widely ridiculed by journalists on Twitter, Thiel said he considered his bankrolling of the Hogan suit to be "one of my greater philanthropic things that I've done. In Sorkin's followup article on Wednesday night, Thiel said, "I figured it would eventually come out." But he did not explain why he kept it a secret for years. Related: Hulk Hogan has brought second lawsuit against Gawker A Thiel spokesperson declined to comment to CNNMoney on Wednesday. Later that day, Forbes reported that it was Thiel, citing anonymous sources. On Tuesday morning, Denton's suspicion about a secret financial backer was shared publicly by Times columnist Andrew Ross Sorkin. Stories published by Gawker have been "very painful and paralyzing for people who were targeted," including friends of his, he said. Thiel told The Times that his financing is "less about revenge and more about specific deterrence." Gawker's now-shuttered tech blog Valleywag previously wrote candidly about Thiel's business dealings and personal life, publishing a story in 2007 titled, "Peter Thiel is totally gay, people." "This is not a business venture," he added.īut it is personal. A $10 million estimate is "roughly in the ballpark," he told The Times. Thiel would not comment on how much he has spent so far, but the Hogan case has been going on for several years. Third parties are free to finance others' legal battles for them. Others predicted that it would have no impact. Some observers speculated that the revelation of Thiel's involvement would assist Gawker in its appeals. When reached by CNNMoney, Denton declined to comment further. cover-up of domestic abuse by players and just this month the hidden power of Facebook to determine the news you see." But the case continues to be a huge financial threat for its founder Nick Denton, who thought Thiel might be behind it but didn't know for sure until this week.ĭenton told The Times on Wednesday night, "Just because Peter Thiel is a Silicon Valley billionaire, his opinion does not trump our millions of readers who know us for routinely driving big news stories including Hillary Clinton's secret email account, Bill Cosby's history with women, the mayor of Toronto as a crack smoker, Tom Cruise's role within Scientology, the N.F.L. Related: Who is Silicon Valley billionaire Peter Thiel? A Florida jury recently awarded Hogan $140 million. But he is uniquely able to use his deep pockets to act on it. Thiel isn't alone in his dislike for Gawker.
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