Tech billionaire and Republican megadonor Peter Thiel confirmed in an interview that he won't be throwing his money behind any presidential candidate in 2024.

In the interview with Fortune, he explained, “They’ll get their message out or they will not get it out.”

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“They will convince people or they will not convince people. And an extra $1 million or $10 million does not make any difference," he added.

In the spring, several outlets reported on his suspected plans not to donate to Republican presidential candidates going into the election in 2024. However, Thiel hadn't confirmed the reports.

Now, he says he has “a lot of different, complicated reasons” for not putting his funds behind a candidate. He added that he will be "less involved" in the cycle altogether but will be voting Republican come Election Day.

In a statement, Thiel further told Fortune he is “unpersuaded that this election will focus on the issue that matters most: ending our decades-long technological and economic stagnation.”

Thiel has been supportive of former President Donald Trump in the past, donating toward his first presidential run and even serving as a delegate for the former president in 2016. He further supported multiple Republicans in 2022, namely now-Sen. J.D. Vance (R-OH) and Republican Senate candidate Blake Masters in Arizona, who lost to Sen. Mark Kelly (R-AZ).

Commenting on the 2024 race on a podcast in May, he said, "I think DeSantis would make a terrific president if he's the Republican nominee. I will strongly support him in 2024."

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However, he warned the candidate not to wade too far into cultural issues. "I do worry that focusing on the 'woke' issue as ground zero is not quite enough," he said.

Since then, DeSantis has appeared to put less of an emphasis on cultural issues such as abortion and gender ideology and has used different language to address them.