Peter Thiel drops Argentina event as protests target his investments
Aug. 19 (UPI) — Billionaire tech investor Peter Thiel has withdrawn from a high-profile libertarian summit in Argentina where he was scheduled to appear alongside President Javier Milei, days after protesters dressed as Gandalf demonstrated outside his $12 million Buenos Aires mansion.
Thiel had been scheduled as one of the central speakers at the “Vientos de Cambio,” or “Winds of Change,” summit on Sept. 1 and 2 in Buenos Aires, organized by the Libertad y Progreso Foundation. He was expected to hold a public conversation with Chilean commentator Axel Kaiser, while Milei was scheduled to close the gathering, according to Argentine news outlet elDiarioAR.
The foundation said Thiel canceled because of scheduling and logistical issues and did not connect his decision to the protest.
“Due to scheduling and logistical reasons completely unrelated to the organization of the event, Peter Thiel will ultimately be unable to travel to Buenos Aires,” Libertad y Progreso said in a statement cited by elDiarioAR. The organization said Thiel and his team had tried to reconcile the appearance with previous commitments but that travel difficulties made his participation impossible.
The summit is intended to showcase Argentina’s economic transformation under Milei and will bring together government officials, investors, academics and think tanks from Latin America, the United States and Europe. Economy Minister Luis Caputo and Deregulation Minister Federico Sturzenegger are among the government officials scheduled to participate, according to La Nación.
Thiel’s withdrawal came after an unusual demonstration Monday outside his home in Barrio Parque, one of Buenos Aires’ most exclusive neighborhoods.
A group of protesters wearing gray robes, pointed hats and white beards dressed as Gandalf, the wizard from J.R.R. Tolkien‘s The Lord of the Rings, gathered outside the property carrying a banner reading, “You shall not pass,” La Nación reported.
The choice of character was a pointed reference to Thiel’s well-documented fascination with Tolkien. Thiel co-founded data analytics company Palantir Technologies, whose name comes from the “palantíri,” seeing stones in Tolkien’s fictional universe that allow their users to communicate across long distances and view faraway events.
The demonstrators protested Thiel’s growing presence and investments in Argentina, including a recently disclosed $76 million stake in oil producer Vista Energy, according to elDiarioAR.
Thiel Macro LLC reported holding 1,189,792 American depositary shares of Vista at the end of the second quarter, worth approximately $76 million and representing about 1% of the company, according to a U.S. Securities and Exchange Commission filing cited by La Nación. The Vista investment was the fund’s second-largest reported equity position behind Amazon and represented about 18% of its reported stock portfolio.
Vista is one of the major operators in Vaca Muerta, Argentina’s massive shale oil and gas formation, making the investment Thiel’s most significant publicly disclosed financial bet in the country.
His financial expansion has come alongside increasingly visible ties to Milei and senior members of his government.
Thiel met with Milei at the Casa Rosada presidential palace in April, part of a series of meetings between the two over the past two years. El País reported that the April meeting was their fourth since 2024, following encounters at the Casa Rosada in January 2024, at the Milken Institute conference in Los Angeles that May and another meeting in Buenos Aires.
During his latest stay in Argentina, Thiel also met with presidential adviser Santiago Caputo, while Economy Minister Luis Caputo received him at the Economy Ministry in May, La Nación reported.
Thiel temporarily settled in Buenos Aires with his husband and children in early April and purchased a six-bedroom mansion in Barrio Parque for about $12 million, according to La Nación.
His outreach has extended beyond Milei’s political circle. On June 3, Thiel held a more than three-hour meeting at his home with opposition lawmaker and social leader Juan Grabois, one of Milei’s most outspoken political opponents. Grabois later said the meeting was intended to help him understand the political and technological project of Silicon Valley’s emerging elite.