Capitol Report: ‘Single-digit millionaires’ like Hulk Hogan can’t afford justice, says Peter Thiel

Venture capitalist Peter Thiel said Monday that a “single-digit millionaire” like pro wrestler Hulk Hogan can’t get access to the U.S. legal system, as Thiel defended his decision to finance a lawsuit against Gawker Media on Hogan’s behalf.

Thiel, a supporter of Republican presidential nominee Donald Trump, made headlines in May when he was exposed in a Forbes article as secretly funding the lawsuit. Gawker had made public parts of a sex tape featuring the wrestler, whose real name is Terry Bollea. Gawker filed for bankruptcy as a result of a $130 million judgment owed to Bollea.

Read: Peter Thiel admits to one-man Gawker crusade; reaction is horror, applause.

Thiel spoke at the National Press Club in Washington and defended bankrolling the lawsuit, calling Gawker a “singularly sociopathic bully.” The site outed him as gay in 2007.

“If you’re a single-digit millionaire like Hulk Hogan, you have no effective access to our legal system,” Thiel said.

The FBI email probe and Clinton’s October surprise

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As Hillary Clinton reaches the home stretch of the election well ahead in polling over Donald Trump, new revelations from the FBI’s reopening of the investigation into the Democratic candidate’s emails has shifted the race. WSJ’s Gerald F. Seib discusses how the information could impact both candidates. Photo: Reuters

To quantify the disenfranchised, as of 2015 the number of households with a net worth of between $1 million and $5 million was 9.1 million, according to a report by the Spectrem Group. Households with a net worth of between $5 million and $25 million — presumedly a group with better legal representation — was 1.2 million.

There were nearly 125 million households in the U.S. in 2015.

Thiel, a co-founder of PayPal PYPL, -0.24%   and an early investor in Facebook FB, -0.23%  , also stuck to his defense of Trump with about a week remaining before the election. Thiel was critical of lewd comments Trump has made about women, but praised the Republican nominee’s policies on trade and foreign affairs.

“What Trump represents isn’t crazy and it’s not going away,” Thiel said.

Also read: Opinion: Why Donald Trump’s politics are likely to live on.

Thiel spoke at the Republican convention in July, saying “fake culture wars” distract from the broken U.S. economy.

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