Facing allegations that his venture capital firm accelerated a run on Silicon Valley Bank, Peter Thiel is insisting that $50 million of his own money was locked up during the chaos. He told the Financial Times that he did not expect SVB to fail—which it did—though his firm, Founders Fund, reportedly withdrew its own cash prior to the collapse and told its portfolio companies to consider doing the same. Thanks to government intervention, Thiel once again has access to his account, which comprises a minuscule percentage of his $4.2 billion net worth.
