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Peter Thiel, the billionaire co-founder of PayPal (NASDAQ: PYPL) and Palantir Technologies (NASDAQ: PLTR), has quietly relocated his family to Buenos Aires, Argentina.
According to a New York Times <a href="https://www.nytimes.com/2026/05/28/world/americas/peter-thiel-argentina.html" rel="noopener noreferrer nofollow">report</a> published May 28, Thiel, 58, has reportedly moved into a $12 million mansion in the Argentine capital, enrolling his children in a local school and exploring the country as a strategic escape hatch from the United States.
The move is being driven by two forces, which are taxes and ideology.&nbsp;
<a href="https://www.thestreet.com/crypto/markets/peter-thiel-sells-off-full-stake-in-crypto-company" rel="noopener noreferrer nofollow">Related: Peter Thiel sells off full stake in crypto company</a>
<h2 id="california-s-new-tax">California's new tax&nbsp;</h2>
California is pushing a one-time 5% wealth tax on assets over $1 billion. This bill could cost Thiel $1.4 billion from his $28 billion fortune.&nbsp;
But beyond the tax bill, there's a deeper pull. Two unnamed insiders cited in the NYT piece say that Thiel's close friendship with Argentine President <a href="https://www.thestreet.com/crypto/policy/trump-ally-javier-milei-faces-impeachment-pressure-amid-crypto-scandal-in-argentina" rel="noopener noreferrer nofollow">Javier Milei</a> has resulted in an official offer of citizenship.&nbsp;
Thiel already holds passports from New Zealand, Germany, and the United States, and is reportedly in the process of acquiring a Maltese passport.
However, Thiel continues to keep more than 99% of his fortune rooted in the U.S., and the Buenos Aires mansion is his only known investment in Argentina to date.&nbsp;
TheStreet <a rel="noopener noreferrer nofollow">Roundtable</a> reached out to the Thiel Foundation for comments and had not received a response at the time of publication.&nbsp;
<h3 id="more-news">More news:</h3>
<ul>
 <li><a href="https://www.thestreet.com/crypto/markets/jpmorgan-ceo-dimon-sends-blunt-message-on-clarity" rel="noopener noreferrer nofollow">JPMorgan CEO Dimon sends blunt message on CLARITY</a></li>
 <li><a href="https://www.thestreet.com/crypto/investing/over-1-47-billion-leaves-crypto-as-irans-irgc-threatens" rel="noopener noreferrer nofollow">Over $1.47 billion leaves crypto as Iran's IRGC threatens</a></li>
 <li><a href="https://www.thestreet.com/crypto/technology/robinhood-now-lets-ai-trade-stocks-on-your-behalf" rel="noopener noreferrer nofollow">Robinhood now lets AI trade stocks on your behalf</a></li>
</ul>
<h2 id="why-the-crypto-privacy-world-is-taking-note">Why the crypto privacy world is taking note</h2>
The Thiel news landed with particular resonance in the crypto privacy space.&nbsp;
Will McEvoy, CIO at Cypherpunk Technologies and principal at Winklevoss Capital, one of the most vocal institutional backers of privacy coin Zcash,<a href="https://x.com/will__mcevoy/status/2060369826221044023" rel="noopener noreferrer nofollow"> responded</a> on X,
<blockquote>
 "The need for Zcash has never been greater."
</blockquote>
Zcash (ZEC) is a decentralized digital currency that functions like <a rel="noopener noreferrer nofollow">Bitcoin</a> (BTC), but with a critical difference, i.e., transactions are fully shielded, hiding the sender, receiver, and amount from outside observers.&nbsp;
<figure><a href="https://app.decibel.trade/trade/BTC-USD" rel="noopener noreferrer nofollow"></a>
 <figcaption>
 Bitcoin trade as of May 29&nbsp; 
 <a href="https://app.decibel.trade/trade/BTC-USD" rel="noopener noreferrer nofollow">Decibel</a>
 </figcaption>
</figure>
At press time, as per Decibel, Bitcoin was trading at $73,572 after dropping 0.2% in the past 24 hours. Meanwhile,<a href="https://app.decibel.trade/trade/ZEC-USD" rel="noopener noreferrer nofollow"> Zcash </a>was down over 3% in the past 24 hours, trading around $536.&nbsp;
Both Thiel and Milei are also staunch advocates of cryptocurrency.
Thiel has publicly advocated for Bitcoin as "digital gold," and his Founders Fund has backed crypto through <a href="https://www.reuters.com/technology/peter-thiels-founders-fund-made-200-million-crypto-investment-before-bull-run-2024-02-13/" rel="noopener noreferrer nofollow">$200 million</a> in Bitcoin and Ethereum (ETH) investments.&nbsp;
Milei entered office as arguably the most crypto-friendly head of state on Earth, openly praising Bitcoin as a way to <a href="https://x.com/DylanLeClair/status/1726386447429537861?s=20" rel="noopener noreferrer nofollow">"make money private again"</a>&nbsp;and inheriting a country already among the world's top five for crypto adoption per capita.&nbsp;
However, his credibility took a hit after he promoted the<a href="https://www.thestreet.com/crypto/policy/interpol-arrest-warrant-sought-for-libra-token-creator-hayden-davis" rel="noopener noreferrer nofollow"> $LIBRA token in February 2025,</a> which surged to a $4.5 billion market cap before collapsing 96% and wiping out an estimated $251 million in investor funds.&nbsp;
<a href="https://www.thestreet.com/crypto/investing/peter-thiel-backed-stock-soars-then-crashes-on-shocking-news" rel="noopener noreferrer nofollow">Related: Peter Thiel-backed crypto stock crashes on shocking news</a>

Billionaire Peter Thiel moves out of U.S. citing harsh concerns

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