Mere “Single Digit Millionaires” Lack Access To Legal System, Says Thiel

The plight of the “single-digit millionaire” in the U.S. legal system is real, according to billionaire Peter Thiel. “If you’re a single-digit millionaire like Hulk Hogan, you have no effective access to our legal system. It costs too much,” said Thiel, at a National Press Club event last week. Hogan wanted to sue Gawker for posting a portion of his sex tape. Thiel, who has a bitter personal relationship with Gawker, stepped in to bankroll the lawsuit, which ended in a jury awarding Hogan $140 million. As a result, Gawker shut down, and Gawker Media was sold to Univision. “I strongly believe in the First Amendment,” Thiel said. “I believe journalists are a privileged group in our society.  … But these were not journalists.” Gawker is currently investigating Thiel’s role in funding litigation against a news company, and has raised the potential of suing him.