Peter Thiel, the billionaire investor who pumped $15 million into a super PAC that helped make Blake Masters the GOP nominee for Senate in Arizona, is planning to spend as much as $5 million more in the race, according to people familiar with the matter.
The additional spending would mark a reversal for Thiel, who had previously indicated he was not going to make a financial commitment in the general election.
He previewed his updated plans, which have not been previously reported, in talks this week with a representative from a PAC linked to Senate Minority Leader Mitch McConnell . Thiel suggested he and the PAC each put $5 million behind Masters, a friend and former employee of the venture capitalist’s. But Steven Law, who heads the McConnell-linked group, the Senate Leadership Fund, indicated to Thiel on Thursday that he could not find the resources to make that commitment, according to these people, who spoke on the condition of anonymity to share private details. The PAC had previously canceled $9.6 million in ads initially reserved for the race, citing costs elsewhere and spending by other conservative groups to boost Masters.A spokesman for the Senate Leadership Fund declined to comment.
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