PayPal co-founder amassed $5 bn in tax-free retirement account: Report

PayPal's billionaire Co-founder Peter Thiel amassed $5 billion in a tax-free individual retirement account (IRA), used by average Americans to save, by 2019, ProPublica reported citing Internal Revenue Service data. Thiel's Roth IRA was worth $1,700 in 1999. He grew his fortune by investing in early-stage start-ups, which blew up in value after going public years later, ProPublica said.