Think about it. Our entire western civilization revolves around how much money you have. Most billionaires are only concerned with accumulating more wealth, and historically Republican administrations are pretty good about supporting that (tax cuts for the wealthy, gutting of social programs to support those cuts, etc). They don’t give two shits about the rest of the population, as long as their wealth increases.

Money is also power. The more power you have, the more you get away with. So even though someone like Thiel might be as gay as a rainbow, he’s in that echelon of people who are quite rich and powerful that being gay doesn’t matter, he has the money and power to sidestep the oppression his comrades seek. Their reason for the oppression of gays is the same as the oppression of any other marginalized group (LGBT+, women, POC, etc); it gives their supporters an enemy, which in turn galvanizes their base, and reinforces the party’s power. People like Thiel aren’t concerned with any of that because they have the resources and influence to sidestep that oppression.