Controversial billionaire Thiel receives Axel Springer Award

Controversial US billionaire Peter Thiel is to receive the Axel Springer Award in recognition of his role in driving innovation and transforming markets, the German media group announced on Friday.

The decision to confer the prize on Thiel honours him as "a person who has created new markets, reshaped existing ones in an extraordinary way, and left a lasting mark on the technological, economic and societal debates of our time," the Axel Springer group said on Friday.

The 58-year-old entrepreneur intends to travel to Berlin for the award ceremony on September 24, according to the statement.

Axel Springer chief executive Mathias Döpfner described Thiel as one of the rare entrepreneurs who not only founds or finances companies but also helps shape the direction of technological progress.

"His ability to think long-term, argue against consensus, and consistently bet on innovation has inspired generations of founders," said Döpfner. "He reminds us that progress requires courage and nonconformism." 

Known for close ties to Trump

Thiel is an IT investor and co-founder of the software company Palantir and PayPal. He is known for his libertarian and right-wing conservative views, his close ties to US President Donald Trump and his criticism of liberal democracies.

Recently, reports about Thiel's apocalyptic worldview have also brought his religious ideology into the public spotlight.

The question of whether security agencies should rely on Palantir's controversial data analysis and surveillance tech has also sparked debate in Germany.

The non-monetary Axel Springer Award honours individuals who, as entrepreneurs, have made an outstanding contribution to transforming markets.

Past recipients have included Facebook founder Mark Zuckerberg, Amazon founder Jeff Bezos, Tesla boss Elon Musk and the inventor of the World Wide Web, Tim Berners-Lee.

Axel Springer portfolio includes news brands such as Bild, Die Welt, Politico, Business Insider and the UK's Telegraph.