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Billionaire funding creation of artificial islands

PayPal founder and early Facebook investor Peter Thiel has given $1.25 million to an initiative to create floating “libertarian countries” in international waters, according to a profile of the billionaire in Details magazine.

Thiel has been a big backer of the Seasteading Institute, which seeks to build sovereign nations on oil rig-like platforms to occupy waters beyond the reach of law-of-the-sea treaties. The idea is for these countries to start from scratch – free from the laws, regulations and moral codes of any existing place.

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Click here for the magazine article.