Thiel Invests in Argentine Oil Firm Vista Amid Vaca Muerta Growth

Peter Thiel, co-founder and chairman of Palantir, has invested in Vista, an Argentine oil company operating in the Vaca Muerta shale formation. The tech billionaire's hedge fund, Thiel Macro LLC, acquired a 1% stake in Vista for approximately $76 million through a U.S. Securities and Exchange Commission filing.

The investment comes after Thiel met with Argentine President Javier Milei in April at the presidential palace, where they discussed economic policies and Milei's opposition to wealth taxes. The meeting was reportedly followed by Thiel purchasing a mansion in an upscale Buenos Aires neighborhood.

Vista operates in Vaca Muerta, which holds the world's second-largest shale gas reserves and fourth-largest oil reserves. The company currently produces 160,000 barrels of oil equivalent per day and has invested over $6.5 billion in Argentina. Vista raised its investment and production outlook for Vaca Muerta in May.