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Peter Thiel expected to donate $1.25 million to Donald Trump

The PayPal cofounder will make his contribution through a series of super PACs, the New York Times reports.

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NEW YORK, NY - NOVEMBER 03: Partner at Founders Fund Peter Thiel participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City. (Photo by Neilson Barnard/Getty Images for New York Times)
Neilson Barnard, Getty Images for New York Times

Peter Thiel is putting his money on Donald Trump.

The PayPal cofounder and Silicon Valley billionaire is getting ready to invest $1.25 million in the Republican candidate's campaign for president, the New York Times reported Sunday. Thiel will make the donation in a series of super PAC contributions, the Times reported, citing an anonymous source described as close to the billionaire.

Representatives for Thiel and Trump did not immediately respond to requests for comment.

The donation puts Thiel in a minority in Silicon Valley, the Times notes. Trump's financial support from the Valley has been scant, only raising slightly under $300,000 from tech companies, according to CrowdPac. Meanwhile, Hillary Clinton, Trump's Democratic rival for the White House, has raised more than $7 million.

Trump's lack of support from the Valley may be due in large part to criticism he has heaped on many prominent tech companies. He called for a boycott of Apple products after the company refused to help the FBI hack a terrorist's phone. Trump has also accused Amazon CEO Jeff Bezos of purchasing The Washington Post as a way of lowering Amazon's tax bill.