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Peter Thiel told the Financial Times that SVB held $50 million of his own money when it collapsed. Some have blamed Thiel for the bank run on SVB after he told Founders Fund clients to pull deposits.
Mar 14, 2023 · Behind the scenes: By Thursday morning, Founders Fund's top operations executives were on the phone, quickly deciding to move firm capital to a number of bigger banks. Firm founder Peter Thiel was not part of the conversation. One source says that the assumption was that they'd return the money to SVB after the crisis had ended.
- Dan Primack
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Mar 11, 2023 · Peter Thiel was a cofounder of PayPal. Marco Bello/Getty Images. Peter Thiel's Founders Fund withdrew all its funds from Silicon Valley Bank, Bloomberg reported. His VC fund took action after ...
Mar 17, 2023 · SVB Collapse: Billionaire Peter Thiel Had Millions Blocked in Failed Bank. Founders Fund, founded by the investor Peter Thiel, is accused of having accelerated the depositor run that brought down ...
Mar 17, 2023 · The VC-like part of Silicon Valley Bank isn’t what went wrong. The bank part of the bank is where the failure occurred: a lot of deposits came in during the pandemic, and SVB chose to put half ...
Mar 13, 2023 · So when Silicon Valley Bank made this announcement on March 8th, people bolted. Peter Thiel’s Founder’s Fund advised its portfolio companies to pull out, ultimately yanking millions. And you ...
Mar 11, 2023 · Peter Thiel ’s Founders Fund had no money with Silicon Valley Bank as of Thursday morning as the bank descended into chaos, according to a person familiar with the matter. Founders Fund withdrew ...
