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title: "* slow clap * "In 2021 it was revealed by ProPublica that Thiel had…"
date: 2022-11-22
source: facebook
type: Archer T. Ships updated his status.
---

# * slow clap * "In 2021 it was revealed by ProPublica that Thiel had…

*November 22, 2022 · Facebook*

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\* slow clap \*\
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\"In 2021 it was revealed by ProPublica that Thiel had purchased 1.7 million founders shares in the entity that would become PayPal using \$1,700 in a Roth IRA in 1999. Due to the rapid growth in the value of the shares as PayPal grew and was later acquired by eBay, it allowed Thiel to turn his \$1700 Roth IRA into an account worth more than \$5 billion as of 2019. Most of this increase in the value of the Roth was due to him re-investing his PayPal proceeds into companies like Palantir and Facebook which grew quickly after his investment. If Thiel waits until 2027, he can withdraw the entire \$5 billion+ amount tax free.\"
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