A group of protesters gathered outside Peter Thiel’s $12 million residence in Buenos Aires this week to voice opposition to the tech billionaire’s recent move to the country. The demonstration, which involved participants wearing white masks and carrying signs labeling the investor “Peter Thief,” followed a congressional session that scrutinized Thiel’s growing presence and influence in Argentina.

Thiel, a prominent Silicon Valley figure and co-founder of PayPal, purchased the property in April and has since relocated his family there. The protests appear to be linked to broader concerns among some Argentine citizens regarding the impact of foreign billionaires acquiring significant local assets. While the protesters framed their opposition around the potential for exploitation, others have speculated that Thiel’s move is part of a broader strategy to hedge against global instability, specifically citing the potential for a third world war. Proponents of this theory point to Argentina’s agricultural wealth and its geographic distance from potential global conflict zones as primary motivators for his relocation.

There is currently no official statement from Thiel regarding the specific reasons for his move or his response to the protests. The situation highlights a growing tension between foreign investment in the region and local anxieties regarding the motives of high-profile international figures.