Protests in Argentina follow Peter Thiel's move and legislative changes

Protests and Congressional Scrutiny

Dozens of protesters demonstrated outside Peter Thiel's Buenos Aires residence, holding signs critical of the tech magnate. This protest followed a congressional session where Thiel's presence in Argentina and recent legislative changes were debated.

Juan Marino, a member of the chamber of deputies, described the proposed laws as a "technofascist legislative package" that could entrench the power of US tech billionaires in the country. Neither Thiel nor President Milei attended the congressional meeting to address these concerns.

New Legislative Proposals

Argentina's chamber of deputies recently debated a set of regulatory changes proposed by Javier Milei's government. One key proposal, the "super RIGI," would establish an investment regime offering foreign companies minimal tax rates and a 30-year guarantee against regulatory changes. This law specifically targets investments such as AI datacenters.

Another proposed law, which did not pass, aimed to remove most restrictions on foreigners purchasing land in Argentina. A separate decree would mandate certain civilian government departments to share personal data of Argentine citizens with state intelligence services.

Thiel's Presence and Meetings

Peter Thiel purchased a $12 million residence in Buenos Aires in April and moved his family to Argentina. While there is no direct evidence that Thiel advocated for the new laws, critics point to the timing of these proposals and Thiel's private meetings with President Milei and key presidential advisers as suggestive.

Argentinian deputies from various parties have requested information from the government regarding Thiel, his meetings, and his businesses, but these requests have not been answered. The level of access Thiel has had with the Argentine government is considered uncommon for a foreign investor.