US tech billionaire Peter Thiel has sparked speculation after reportedly 'temporarily relocating' to Argentina. However, Thiel and his family are still US citizens, living in Argentina for now, with no plans to renounce their citizenship.
The move is seen as a potential hint at permanently moving out in the future, as California, his home state, goes to the ballot on a new tax for billionaires during midterms.
Thiel has purchased a $12 million mansion in Buenos Aires and is living with his family there, with his children enrolled in local schools.
Despite the speculation, Thiel still has more than 99% of his assets and wealth anchored in the US, with the $12 million mansion being his only known investment in Argentina.
Argentina's President Javier Milei has offered Thiel Argentine citizenship due to their friendship, but it's unclear whether Thiel would accept.
The move comes as California residents will have an extra ballot to fill in the 2026 US midterms, with a referendum on a one-time tax on billionaires that will fund state programs.
