4 Things You Didn't Know About Peter Thiel

PHILADELPHIA (CBS) - Peter Thiel is planning to make history tonight by being the first person to declare to the Republican National Convention that he is openly gay, according to CNN.

Before you tune into his speech, here are a few things you may not know about the billionaire.

He co-founded PayPal.

Thiel co-founded PayPal with Max Levchin in 1998. The company was later sold to eBay for 1.5 billion. Thiel had a 3.7% stake in the company which amounted to $55 million during the acquisition.

He invested in Facebook.

Thiel was actually one of the social network's first big investors back in 2004. He had a $500,000 investment, 10.2% stake, in the site that he later sold for more than a billion dollars.

He is a supporter of young entrepreneurs.

He created the Thiel Fellowship Program which awarded $100,000 to 20 people under 20 who left college to start their own businesses and pursue their dreams.

He's not a Republican. He's a Libertarian.

Thiel believes in decreased government and increased individual liberties. He has also supported gay rights movements such as GOProud and the American Foundation for Equal rights.