COMPLETE STATIC READING EDITION

The “PayPal Mafia”

A magazine nickname for a real network of founders, investors and, later, officials

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Who is in it

Who is in it

The network and its limits.

Fortune coined the term in a 2007 cover story and convened 13 members at Tosca in San Francisco for a photo. Thiel sat in the foreground; behind him sat Reid Hoffman, who founded LinkedIn. [1]

PayPal’s prospectus lists many of the same names as officers in 2002, including Max Levchin, David Sacks and Reid Hoffman. [3]

Fortune notes that the group is not united: Hoffman, a major Democratic donor, has clashed with Thiel and Sacks over Trump. When Trump returned to power, people from Thiel’s side of the network took government jobs, including Sacks as the White House AI and crypto adviser. [1][2]

What we can’t tell you. Membership is informal; there is no official list.

The sources

Fortune: The PayPal Mafia still rules Silicon Valley, 21 July 2024 ↗
Fortune’s own look back at its 2007 cover story that coined the name, with the Tosca bar photo of 13 alumni.
Fortune: How Thiel’s network is moving into Trump’s White House, 7 December 2024 ↗
Names Sacks, O’Neill, Kratsios, Howery and Vance, and says Thiel introduced Vance to Trump at Mar-a-Lago in 2021.
PayPal IPO prospectus, 18 January 2002 ↗
The company’s own history: Confinity founded December 1998, the March 2000 merger with X.com, its officers. Thiel is listed as chief executive.

WHAT PEOPLE SAY ABOUT THIS FILE

The claims, rated.

2 claims people make about this file, each rated documented, partly true, disputed, unproven or false. Think a rating is wrong? Use Dispute or Support, or join the Discussion.

DOCUMENTED PayPal, Facebook & investing

“The “PayPal Mafia” is a real nickname.”

Fortune coined it in 2007 with a photo of 13 alumni.

Who says it: Fortune.

The evidence in this file ↗ · On the full claims board ↗

Discuss on X Dispute this Support this Rate

FALSE PayPal, Facebook & investing

“The PayPal Mafia is a secret organization.”

It is a magazine nickname for an alumni network; its members disagree openly, including on politics.

Who says it: Online posts.

The evidence in this file ↗ · On the full claims board ↗

Discuss on X Dispute this Support this Rate

All 153 rated claims ↗

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