Billionaire tech mogul and Paypal co-founder Peter Thiel has reportedly hired embattled former Austrian chancellor Sebastian Kurz, who abruptly stepped down from office amid allegations of corruption, to help run his investment fund.
Kurz, 35, will serve as a global strategist for California-based Thiel Capital beginning in the first quarter of 2022. The former chancellor confirmed his career move to Austrian media outlets.
Kurz, who was once Europe’s youngest elected leader at age 31, resigned as Austria’s chancellor in October after prosecutors announced he was under investigation for allegations of corruption.
Austrian authorities are investigating claims that Kurz and his political allies used public money to publish doctored polls in a bid to retain power. Kurz has denied wrongdoing.
Though he initially retained a role as the conservative Austrian People’s Party’s parliamentary leader, Kurz left politics entirely earlier this month, citing a desire to spend time with his family.
He plans to commute between Europe and Thiel Capital’s US headquarters, Reuters reported, citing Austrian news outlet Heute. His pay is reportedly far higher than the €300,000 ($340,000) he earned as chancellor.
Thiel, 54, co-founded financial tech firm PayPal in 1998 and was an early investor in Facebook. His personal net worth is estimated to be $3.3 billion, according to Forbes.
Thiel is also a prominent political donor known for his conservative views. He supported former President Donald Trump’s bid for the White House in 2016 and remained a vocal backer during his term in office.