Peter Thiel got rich investing in PayPal and Facebook Inc. before most people knew them, built a hedge fund that at its apex managed $7.2 billion, and forecast the collapse of the U.S. housing market. He also lost almost two-thirds of his clients’ money.
Facebook Inc. director Peter Thiel, who sold more than 16 million shares in the company’s initial public offering, has given himself added flexibility to sell more of his holdings, a regulatory filing shows.
Doug Naidus made his fortune selling a mortgage company to Deutsche Bank AG months before the U.S. housing market collapsed. Now he’s found a way to profit from loans to business owners with bad credit.
Peter Thiel, whose Clarium Capital Management LLC lost 90 percent of assets from its peak until the end of last year, plans to invest the global macro hedge fund in what made him a billionaire: private technology ventures.