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Politics

Silicon Valley billionaire stands by Donald Trump

Opening sequence

Opening sequence

Politics

Silicon Valley billionaire stands by Donald Trump

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COMING UP:Silicon Valley billionaire stands by Donald Trump

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Transcript

00:00:01
>> As a wave of top Republicans pull their support for Donald Trump, one major booster is standing by the embattled nominee. And he's putting his money where his mouth is. Silicon Valley billionaire Peter Thiel reportedly donating $1.25 million to the candidate's campaign. Even as more women come forward accusing him of sexual assault, and his rival Hillary Clinton's lead in the polls reaches double digits.
00:00:24
Reuters correspondent, Dustin Volz.>> Thiel's sort of seen as an eccentric in Silicon Valley. Someone who doesn't necessarily align with a lot of the high tech establishment. Silicon Valley really sees Trump as opposing a lot of their policy priorities. First and foremost among them is immigration.>> Hillary Clinton wants to have a totally open border, where people can just pour in and take your jobs.
00:00:49
>> Silicon Valley in order to continue to innovate and compete globally, they feel that they need to actually increase the immigration of high skilled workers. And so, that issue alone has created a sizable rift between Silicon Valley and Trump.>> That rift apparent in the amount of money tech titans have funneled towards each candidate this year.
00:01:08
According to one estimate the GOP's nominee has raised just over $30,000 from the internet industry, that compares to more than 2.2 million for Clinton. But Thiel, a co-founder of PayPal and an early investor in Facebook, has spoken up for Trump's business prowess at this year's Republican National Convention.
00:01:26
Saying he's the only candidate who can save the US from its, quote, economic decline.>> Americans get paid less today than ten years ago. But healthcare and college tuition cost more every year. Meanwhile, Wall Street bankers inflate bubbles in everything from government bonds to Hillary Clinton's speaking fees.
00:01:47
>> He also shares with Trump a disdain for media he feels has wronged him. Thiel earlier this year revealed he'd spent $10 million to fund a lawsuit brought by Hulk Hogan against Gawker Media, which in 2007, outed Thiel as gay.>> Thiel's funding of Hulk Hogan's lawsuit against Gawker ultimately led to that publication having to fold.
00:02:04
And Trump, over the past several weeks has gone on and on about how he feels that the so-called liberal media establishment is trying to conspire against him. And that the only reason he's losing is because they don't tell his story fairly.>> Trump, who last week threatened to file a suit against the New York Times for stories about his alleged sexual misconduct has also promised to, quote, open up the libel laws, to make it easier to sue the media if he becomes president.