GOP officials asked the tech mogul for more money heading into the final stretch of the November elections, so he's hosting a benefit for the Arizona Senate candidate.
The invitation for the Masters campaign event states that it will take place on September 30 at his home in Southern California. The cost for the event is between $1,500 and $11,600 per person and includes a host and reception, depending on the ticket.
Several of Thiel's allies, including the CEO of an investment firm and a hedge fund manager, are among the co- hosts of the event. The co-host of the show is a man who became a millionaire by the age of 18.
The move by Thiel to host Masters comes as donations from the tech mogul to separate super PACs supporting Masters and Ohio Senate candidate J.D. According to Federal Election Commission filings, Thiel gave a total of fifteen million dollars to Protect Ohio Values, a super political action committee, and Saving Arizona, an outside group supporting Masters during the primary races.
The last time he gave to Saving Arizona was in July. FEC records show that he hasn't given them any money for the general election that will pit the candidates against each other.
A Real Clear Politics poll shows that Tim Ryan is in a statistical dead heat with Vance in the Senate race. Masters is in a close race with Mark Kelly. The two men have been endorsed by the former president. The control of the U.S. Senate could be decided by either race, with the Democrats holding 50 seats and the Vice President breaking any tie votes.
Masters needs to raise more money to fight Kelly, who has outraised him by more than tenfold.
Republican leaders and campaign officials, including Senate Minority LeaderMitch McConnell, R-Ky., have asked Thiel to help. According to the Washington Post, Thiel initially refused to listen to McConnell.
One of the people said that the response from the team has been "not now."
The home of the general partner at the venture capital firm which was co-founded by Thiel was the location of a recent Masters event. A co-host for the event at the home of Peter Thiel is a businessman who posted a picture of him on his social media accounts.
In order to speak freely about private conversations, the people who spoke to CNBC had to be identified.
The two Senate candidates worked with Thiel before they started. At Mithril Capital, Masters was the chief operating officer, and at Thiel Capital, he was the chief operating officer.
The Senate Leadership Fund, which is tied to McConnell, is one of the groups that has been frustrated by the lack of money from others. If GOP leaders weren't willing to commit their own money to bolster the party's chances of taking back the Senate, Thiel didn't want to invest too much in the races.
An ally of the tech billionaire told CNBC that it was a game of chicken between the two men.
The Republican Party's messaging may not be fully supported by the man. When the conservative tea party rose to power, we are doing less well than we were in 1994, according to Thiel.
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