Billionaire Backer Peter Thiel Admits in Private That Trump Administration Is 'Incompetent': Report

BuzzFeed describes associates of billionare Peter Thiel as "surprised" to find out the vocal Trump supporter is not even convinced Trump can successfully finish a single term. The hedge fund manager and venture capitalist is best known as the co-creater of PayPal. He currently sits on the board of Facebook.

Thiel donated $1.25 million to Trump's campaign, which BuzzFeed estimates is less than .05% of his net worth. He also spoke at the Republican National Convention in 2016. Thiel was the only openly gay speaker and received an enthusiastic response from the crowd.

Somewhere along the way, Thiel appears to have discovered that Trump may have been a bad bet. Thiel is reportedly calling the Trump administration "incompetent" in front of other people and suggesting to friends that "there is a 50 percent chance this whole thing ends in disaster." He allegedly told associates he didn't have faith in the president's ability to be reelected.

Thiel is trying to quash the story, saying in a statement through a spokesperson: "We still need change. I support President Trump in his ongoing fight to achieve it."

BuzzFeed points out that Thiel isn't actually denying any of the quotes in the story, which includes numerous anonymous sources.

Trump hasn't had a Twitter meltdown yet over his billionaire buddy's private disloyalty. But he probably won't be granting Thiel any more of his signature handshakes in the near future.