Billionaire Peter Thiel has moved his family to Argentina, settling in Buenos Aires amid concerns about high taxes in California and fears of nuclear conflict. The former PayPal co-founder, 58, purchased a mansion in one of the city’s most exclusive neighborhoods, enrolled his children in a local school, and has met with top government officials since arriving in April.
The tax concern stems from a California ballot proposal that would place a 5 percent tax on the assets of the state’s wealthiest residents, a bill that could have cost Thiel billions. By the end of last year, he had begun looking for alternatives outside California.
His investment firm, Thiel Capital, opened an office in Miami’s Wynwood neighborhood on December 31 as that debate played out. But his attention had already shifted toward Buenos Aires.
Billionaire Peter Thiel sees Argentina as a safe haven
Thiel also views South America as a safer location given the risk of nuclear war in the Northern Hemisphere. His close associate Martin Varsavsky, a Spanish-Argentine tech entrepreneur, has built a ranch in the city of Mendoza for similar reasons.
Varsavsky has said publicly that if China invades Taiwan or Russia moves on a Baltic country, he would head immediately to Buenos Aires, calling it a sensible backup plan for civilization.
Beyond geography, Thiel found an ideological match in Argentine President Javier Milei. Both men share opposition to government regulation, high taxes, and progressive politics.
Billionaire investor Peter Thiel is moving to Argentina :
– Peter Thiel has reportedly relocated his family to Buenos Aires for an extended stay
– Bought a $12M mansion, enrolled his children in local schools and acquired land near Uruguay
– Thiel has developed close ties… pic.twitter.com/BaMpSUh493
— OpenlabX (@openlabxorg) May 30, 2026
Their relationship began in 2024 through an introduction by Alec Oxenford, Argentina’s ambassador to the United States, whose online marketplace OLX had received funding from Thiel’s firm years earlier.
Thiel has since met with Milei multiple times, including at the presidential residence last month. Milei described the meeting as two anarcho-capitalists coming together, with one now putting libertarian ideas into practice.
From chess to antichrist talks, Thiel embraces Buenos Aires
Thiel has quickly built a presence in Buenos Aires beyond politics. He attended a local chess tournament, finishing third among students and schoolchildren. He watched the River Plate and Boca Juniors soccer match and traveled to Bariloche in Patagonia.
Thiel also hosted a dinner at his mansion for economists and local intellectuals, where discussion eventually turned to the Antichrist, a topic he has raised in public lectures over recent years.
In Argentina, Peter Thiel’s arrival has divided public opinion, with the billionaire drawing praise from Milei’s government and sharp criticism from the opposition.
Cabinet chief Manuel Adorni told Congress that billionaires fleeing high-tax, overregulated countries are welcome as Argentina positions itself as a new land of freedom.
Critic and politician Elisa Lilita Carrio called Thiel’s settlement a sign of the country being handed over to global capital. Others have raised concerns that Palantir, the data firm Thiel co-founded, may be collecting data on Argentine citizens.
Thiel’s Uruguay land adds to his South American footprint
In addition to his Buenos Aires mansion, Thiel has purchased land in neighboring Uruguay near Punta del Este, a coastal resort sometimes compared to the Hamptons.
Some have speculated the property could include a bunker, though that has not been confirmed. His only verified investment in Argentina so far remains real estate.
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