A large group of demonstrators gathered outside Peter Thiel’s mansion in Buenos Aires this week, spurred by a recent congressional session that raised concerns regarding the billionaire’s activities in Argentina.
Wearing white masks, the protesters displayed signs reading “Peter Thief” and “No to the Peter Thiel law” in front of the ornate gates of Thiel’s $12 million residence, which he acquired in April upon relocating his family to Argentina.
There is widespread apprehension about Thiel’s presence in the country. His relocation has been interpreted by some as a strategy to safeguard his interests against the potential fallout of global conflict, with Argentina’s agricultural wealth and southern location deemed advantageous for a tech billionaire seeking refuge.
However, recent political developments indicate that Thiel may have more practical motivations for his move.
Last week, Argentina’s chamber of deputies engaged in a lengthy six-hour discussion regarding a series of comprehensive regulatory proposals initiated by the right-wing government of Javier Milei, shortly after Thiel’s arrival in Buenos Aires. The session included invitations for Thiel, Milei, and an official associated with Argentina’s intelligence services to respond to inquiries.
“None of them participated or provided answers during the meeting,” stated Juan Marino, a deputy and leader of the Piquetero party.
Marino criticized the proposed legislation, labeling it a “technofascist legislative package” designed to solidify the influence of U.S. tech billionaires in Argentina. While Thiel has not publicly supported these measures, Marino and others have pointed out the suspicious timing of the proposals.
The discussions in the chamber of deputies followed requests from deputies across multiple parties for transparency regarding Thiel’s activities, connections, and business dealings, none of which have been addressed.
One of the proposed laws, known as the “super RIGI,” seeks to establish an investment framework that would grant foreign companies a low tax rate and a 30-year immunity from regulatory alterations. This proposal specifically targets AI data centers as a key area for investment.
Another proposal, which did not pass, aimed to remove most restrictions on foreign ownership of land in Argentina. Additionally, a separate decree would mandate certain civilian government agencies to share extensive personal information about Argentine citizens with state intelligence services.
There is no direct evidence that Thiel has lobbied for these regulations, but following his move to Buenos Aires, he has engaged in private meetings with Milei and influential presidential advisors, a level of access that is unusual for a foreign investor.
Marino and others perceive the regulatory package as reflecting Thiel’s broader techno-libertarian agenda.
The proposed decree concerning the extensive sharing of personal data coincides with increasing scrutiny from Argentine lawmakers regarding whether Palantir, the firm co-founded by Thiel, has undisclosed agreements with the government, a question that remains unanswered.
Marino also indicated that the land legislation could facilitate the establishment of semi-autonomous “startup cities,” akin to the controversial Próspera development in Honduras, which Thiel has promoted as a means for libertarians to create zones beyond governmental oversight.
Cecilia Nicolini, a representative for Argentina in the Mercosur regional parliament, remarked, “Argentina is essentially a testing ground. U.S. tech billionaires are utilizing Argentina as an experiment because they have a leader, Milei, who is even more extreme than they are.”
Over the summer, Milei authored an article for the Financial Times advocating for the creation of “non-human corporations,” defined as entities managed by AI agents or robots.
This vision aligns with predictions made by Sam Altman, CEO of OpenAI, who has suggested that AI-owned companies could soon dominate the global landscape. Such developments raise significant and complex questions regarding the legal responsibilities of these entities.
Nicolini added, “Thiel’s choice of Argentina is not merely about finding a safe haven amid global turmoil. There appears to be a deliberate strategy at play, closely linked to reforms that Milei is attempting to implement, with varying degrees of success and resistance.”
Thiel was contacted for his comments on the matter.
