A prominent conservative who founded PayPal along with Tesla's Elon Musk - and was an early investor in Facebook - Thiel has reportedly grown exhausted of the Bay Area's liberal politics, according to a report on Thursday.
The hedge fund manager and PayPal co-founder could also step down from his role on the Facebook board, where he's been a director since 2005.
The billionaire will move Thiel Capital and Thiel Foundation, which oversee his investments, to the City of Angels this year, according to the report.
In a leaked email obtained by the New York Times last August, Hastings wrote to Thiel, "I'm so mystified by your endorsement of Trump for our President, that for me it moves from "different judgment" to 'bad judgment.'" Hastings criticized Thiel's support, calling it "catastrophically bad judgment" and "not what anyone wants in a fellow board member" in the email. He donated $1.25 million to the Trump campaign, and delivered a speech at the 2016 Republican National Convention.
He has since spent the bulk of his professional life in the Bay Area.The longstanding libertarian recently said at a debate at Stanford University that Silicon Valley is a "one-party state".
Thiel, who cofounded PayPal in 1999 with Elon Musk, has invested in some of Silicon Valley's biggest companies.
Thiel may also leave Facebook's board, the Wall Street Journal says, citing "people familiar with his thinking".
Fellow Facebook board member Reed Hastings, CEO of Netflix, in a 2016 email called Thiel's support of Trump "mystifying" and "catastrophically bad judgment" and questioned whether he should remain on Facebook's board, the New York Times reported a year ago. "That's when you get in trouble politically in our society, when you're all in one side".
Thiel's newest and most-ambitious project is creating a conservative media empire - an effort that will be easier to accomplish in L.A., according to that same person.