Tuesday, December 05, 2006

Thanks Paul for linking to this article

Bloomberg.com: Exclusive Theil

PayPal's Thiel Scores 230 Percent Gain With Soros-Style Fund By Deepak Gopinath Dec. 4 (Bloomberg) -- One morning in 1998, at Hobee's coffee shop, near Stanford University, a young money manager named Peter Thiel decided to gamble on an Internet startup. Thiel ended up investing $240,000 in the company, which eventually became PayPal Inc., the giant of online payments. Thiel ran PayPal, took it public and, in 2002, sold it to EBay Inc. for $1.5 billion. Thiel, then 34, walked off with $60 million. He bought himself a Ferrari 360 Spyder and moved into a condo at the Four Seasons Hotel in San Francisco.