Posted on 05/25/2016 5:02:39 AM PDT by C19fan
One of Silicon Valley’s best-known investors has been footing a former wrestler’s legal bills in lawsuits against a shared enemy.
Peter Thiel, a PayPal cofounder and one of the earliest backers of Facebook FB +1.50%, has been secretly covering the expenses for Hulk Hogan’s lawsuits against online news organization Gawker Media. According to people familiar with the situation who agreed to speak on condition of anonymity, Thiel, a cofounder and partner at Founders Fund, has played a lead role in bankrolling the cases Terry Bollea, a.k.a. Hogan, brought against New York-based Gawker. Hogan is being represented by Charles Harder, a prominent Los Angeles-based lawyer.
(Excerpt) Read more at forbes.com ...
Maybe it’s just me, but when I think of everything one could do with a few hundred million dollars... it just seems like executing a personal vendetta against somebody - anybody, even by surrogate - is an enormous and incomprehensible waste of time.
Wouldn’t Hogan’s lawyers just get a % of the winnings?
Good. Hulk Hogan is a real American!
$140 million was awarded in the case. Hopefully this is significantly more than the legal fees. Based upon his agreement with Hulk Hogan, Thiel may even end up profiting from the case without ever having to actually participate in the trial, so it wouldn't be a waste of time.
If Thiel was bankrolling it, maybe it was not a contingency-fee case.
‘...so it wouldn’t be a waste of time.’
Provided profit is all one seeks from life, you’re correct.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.