Peter Thiel becomes anti-Milei rallying cry for Argentina’s left

As Argentina prepares for its presidential election, Peter Thiel has emerged as a symbol for the left's criticism of President Javier Milei. On Friday, opposition lawmakers convened a five-hour congressional hearing to investigate Thiel's involvement in the country, escalating scrutiny on the tech billionaire who has made a purchase in Buenos Aires and invested in the nation's largest oil exporter.

Thiel met with Milei and members of his Cabinet earlier this year, during which the libertarian leader introduced bills aimed at facilitating foreign land purchases and the operation of companies managed entirely by artificial intelligence. Although these measures are part of Milei's campaign to attract foreign investment to Argentina, they have sparked popular backlash, giving Milei's opponents an opportunity to harness nationalist sentiment ahead of the 2027 campaign.

With Thiel framed as a convenient target, opposition lawmakers launched their hearing with the question: why is Thiel in Argentina? On the day of the event, demonstrators dressed as Gandalf outside Thiel's Buenos Aires residence, chanting and holding banners mocking the billionaire and his company. Opponents have alleged that Thiel's interests pose a threat to Argentina's future, with lawmakers comparing his vision to a dystopian reality.

Three individuals familiar with the situation claim that Thiel is primarily concerned about Argentina as a secure location in case of a nuclear catastrophe. Thiel has canceled a scheduled appearance at a business conference in Buenos Aires, without providing an explanation.