JD Vance Backer And Trump Donor Peter Thiel Has Several Passports Just Like Kevin O'Leary And Former Google CEO Eric Schmidt

Peter Thiel, a billionaire and major JD Vance and Donald Trump supporter, isn’t just known for his big investments and political connections. He’s also part of a growing trend among the wealthy: collecting multiple passports.

Why Are The Wealthy Collecting Passports?

Having more than one passport is becoming popular among rich who want a backup plan in case things go haywire in their home countries. It’s like having a safety net for travel, business, or even moving to a different country if needed. These ‘passport portfolios' can include citizenships from two, three, or even more countries.

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Peter Thiel’s New Zealand Citizenship

Peter Thiel, co-founder of PayPal and an early investor in Facebook, obtained New Zealand citizenship in 2011. The interesting part? According to reports, he spent only 12 days in the country over five years. Normally, you’d need to spend at least 1,350 days there, but Thiel was granted citizenship because of his “exceptional circumstances.” These included his big investments in New Zealand companies and his philanthropic efforts, like donating $1 million to the Christchurch earthquake relief fund.

According to CNBC, New Zealand law also required Thiel to either plan to live in New Zealand or work for a New Zealand company if he was going to be a citizen. However, Thiel said that if he got citizenship, he would continue living in the U.S. to manage his American businesses.

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Thiel's Not Alone: Kevin O’Leary And Eric Schmidt

Peter Thiel isn’t the only wealthy person with multiple citizenships. Kevin O’Leary, known from the TV show “Shark Tank,” and Eric Schmidt, former CEO of Google, are also part of this trend.

Eric Schmidt acquired citizenship in Cyprus, which offers various benefits for business and travel within the European Union. Kevin O’Leary, who has citizenship in Canada, Ireland, and the United Arab Emirates (UAE), is diversifying his personal and business opportunities by holding multiple citizenship.

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Why New Zealand?

New Zealand has become a popular choice for the superrich looking for a safe and stable place. Because of its social, economic, and ecological reasons, it is often seen as a refuge in times of global instability. During the COVID-19 pandemic, its appeal increased even more because of its remote location and effective virus handling.

The Benefits Of Multiple Passports 

For the wealthy, having multiple passports brings countless advantages. One of the main benefits is travel flexibility. With several passports, they can easily move across different countries without worrying about visa restrictions or long application processes, providing a safety net. 

If things become unstable in their home country, they have a backup plan: move to another country where they have citizenship, ensuring they and their families are safe and secure.

Another big benefit is access to new markets and investment opportunities. Having different passports makes it much easier to invest and open businesses in certain countries and territories, such as Dubai and China. There are far fewer restrictions as well. 

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For billionaires, it’s also about having more lifestyle choices. Having the option to live in different countries adds a lot of freedom and flexibility to their lives.

However, these citizenship programs are often controversial. Critics argue that they allow the wealthy to bypass the usual immigration processes and gain advantages not available to ordinary citizens. In some cases, these programs are seen as ways for the rich to avoid taxes or other legal responsibilities in their home countries.

Additionally, there are concerns about the fairness and transparency of these citizenship programs, especially when wealthy individuals obtain citizenship without meeting all the requirements.

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