Billionaire Republican donor Peter Thiel says he thinks Trump's war with Iran was a mistake as potentially disastrous mid-terms loom

Billionaire Republican investor Peter Thiel admitted that he was sceptical of Donald Trump's war with Iran and questioned whether the conflict had been a mistake. 

Thiel's remarks were revealed just two weeks before the mid-term elections, with Republicans fighting to maintain power in Congress. 

In an audio recording of Thiel's comments obtained by Politico, the PayPal and Palantir co-founder can be heard saying: 'I'm sceptical of [the war]; I think we should not have done it. 

'There were a lot of mistakes that were made.'

He added: 'Maybe we don't have the hard power. Maybe we're going to lose the soft power war.'

The comments were made last week during a lecture hosted by Thiel in Nashville.

During the lecture, Thiel also highlighted his strong opposition to neoconservatives and the wars in the Middle East. 

Despite his criticism of the war in Iran, Thiel reaffirmed his continued support of President Trump. 

The ongoing conflict in the Middle East started on February 28 when the US and Israel launched joint strikes against Iran. 

The war has seen fuel prices skyrocket as shipping through the Strait of Hormuz remains dangerous and constrained. 

 Thiel's comments come as Trump faces intense pressure to help Republican candidates, as his party struggles to hold its slim Senate majorities ahead of the November 3 elections. 

While the party in power almost always loses seats in midterm elections, Republicans are facing an especially challenging climb after Trump helped defeat several of the party's longtime incumbents and as he has been mired in low approval ratings amid deep voter frustration over persistently high costs and the unpopular war with Iran.

One bright spot for Republicans has been their huge financial advantage over Democrats this election cycle, aided by billionaires such as Elon Musk.

In a post on his social media site Tuesday, Trump said he planned to spend 'over 400 Million Dollars by Election Day,' including $300 million he said he had already spent on advertising, voter contact, rallies, tele-rallies, get-out-the-vote programs, and efforts to prevent voters from cheating.

Thiel has had a highly influential relationship with Trump, serving as one of the president's earliest Silicon Valley supporters, donating $1.25million to Trump's campaign in 2016. 

His data-mining company Palantir has been assisting the Trump administration's migrant deportation crackdown. 

He was also a key advisor and donor to the US President during his first administration and has retained some ties to the White House. 

Thiel is also known to be close to Vice President JD Vance. 

He poured millions of dollars into Vance's successful primary race for the US Senate, after which Trump named him his running mate and eventual vice president.