Josh Koehn

On a recent Friday afternoon, <a href="https://sfstandard.com/search/?query=chris%20larsen">Chris Larsen</a> sat behind the wheel of a gunmetal Porsche 918 Spyder, zipping through the Broadway Tunnel. The car—top speed: 214 mph; cost: more than $1 million—gave off distinct Batmobile vibes with its raised roof and nostrils-flared front paneling. It’s the kind of ride one might expect from a crypto billionaire in a hurry, and on a mission.

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On a recent Friday afternoon, <a href="https://sfstandard.com/search/?query=chris%20larsen">Chris Larsen</a> sat behind the wheel of a gunmetal Porsche 918 Spyder, zipping through the Broadway Tunnel. The car—top speed: 214 mph; cost: more than $1 million—gave off distinct Batmobile vibes with its raised roof and nostrils-flared front paneling. It’s the kind of ride one might expect from a crypto billionaire in a hurry, and on a mission.

But this automotive swagger could also describe Larsen’s aggressive approach to reshaping San Francisco. Over the last six years, the founder of Ripple Labs has become a gravitational force in city politics, funding surveillance cameras and shelling out millions for candidates and causes he supports—and dropping the weight of his checkbook on those he opposes.

But this automotive swagger could also describe Larsen’s aggressive approach to reshaping San Francisco. Over the last six years, the founder of Ripple Labs has become a gravitational force in city politics, funding surveillance cameras and shelling out millions for candidates and causes he supports—and dropping the weight of his checkbook on those he opposes.

Larsen doled out more than $1 million for the March 5 election, including $750,000 to support two of Mayor London Breed’s ballot measures: one to force welfare recipients suspected of drug addiction into treatment; and another to bolster public safety, which included giving cops greater access to surveillance tools like drones and license-plate readers. Both propositions passed easily.

Larsen doled out more than $1 million for the March 5 election, including $750,000 to support two of Mayor London Breed’s ballot measures: one to force welfare recipients suspected of drug addiction into treatment; and another to bolster public safety, which included giving cops greater access to surveillance tools like drones and license-plate readers. Both propositions passed easily.

In less than a decade, Larsen has channeled more than $3.6 million total into San Francisco politics, plus millions more toward state and federal campaigns—almost all to Democrats. He has given six-figure contributions to moderate groups like GrowSF, Abundant SF and Neighbors for a Better San Francisco, while also helping supervisor candidates and tossing massive sums into ballot measures on housing, homelessness and public transit.&nbsp;

In less than a decade, Larsen has channeled more than $3.6 million total into San Francisco politics, plus millions more toward state and federal campaigns—almost all to Democrats. He has given six-figure contributions to moderate groups like GrowSF, Abundant SF and Neighbors for a Better San Francisco, while also helping supervisor candidates and tossing massive sums into ballot measures on housing, homelessness and public transit.&nbsp;

Larsen is in rarified air even for the San Francisco rich who are fueling <a href="https://sfstandard.com/2024/02/16/san-francisco-mark-farrell-mayor-race-fundraising/">record political spending</a> in a bid to upend the status quo and transform local governance. Heading into November, his top goal is helping Mayor London Breed overcome her floundering poll numbers to win reelection.&nbsp;

Breed challenger hauls in $200K in first 2 days of campaign

Larsen is in rarified air even for the San Francisco rich who are fueling <a href="https://sfstandard.com/2024/02/16/san-francisco-mark-farrell-mayor-race-fundraising/">record political spending</a> in a bid to upend the status quo and transform local governance. Heading into November, his top goal is helping Mayor London Breed overcome her floundering poll numbers to win reelection.&nbsp;

“She’s taken this city through the most hellacious years,” Larsen said, referencing Breed’s handling of the pandemic and fallout from the police killing of George Floyd in 2020. “The social justice protests, riots—whatever you want to call them—she held the city together.”

“She’s taken this city through the most hellacious years,” Larsen said, referencing Breed’s handling of the pandemic and fallout from the police killing of George Floyd in 2020. “The social justice protests, riots—whatever you want to call them—she held the city together.”

San Francisco Mayor London Breed takes a knee for eight minutes and forty six seconds in honor of George Floyd at City Hall on Tuesday, June 9, 2020, in San Francisco. Black Lives Matter demonstrations continued in the wake of the death of George Floyd, who was killed in Minneapolis police custody. | Santiago Mejia/The San Francisco Chronicle via Getty Images

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/03/inlined03_20240318chrislarsen.jpg?w=1615" alt="Mayor London Breed kneels on the ground in front of the City Hall entrance, as people hold protest signs in the background." class="wp-image-261135"/><figcaption class="wp-element-caption">San Francisco Mayor London Breed’s work to keep the city together during social justice protests in 2020 helped her win Chris Larsen's respect—and his financial support. </figcaption></figure>

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<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/03/inlined03_20240318chrislarsen.jpg?w=1615" alt="Mayor London Breed kneels on the ground in front of the City Hall entrance, as people hold protest signs in the background." class="wp-image-261135"/><figcaption class="wp-element-caption">San Francisco Mayor London Breed’s work to keep the city together during social justice protests in 2020 helped her win Chris Larsen's respect—and his financial support. </figcaption></figure>

Exactly how much money Larsen will pour into November is unknown, but he’s clearly invested in Breed. In 2021, he quietly plunked down more than $42,000 to cover the mayor’s ethics fine and attorney fees connected, in part, to gifts she received from key players involved in a <a href="https://sfstandard.com/2023/08/04/players-in-san-francisco-corruption-scandal-mohammed-nuru/">City Hall corruption scandal</a>.

San Francisco corruption scandal: A guide to the players involved

Exactly how much money Larsen will pour into November is unknown, but he’s clearly invested in Breed. In 2021, he quietly plunked down more than $42,000 to cover the mayor’s ethics fine and attorney fees connected, in part, to gifts she received from key players involved in a <a href="https://sfstandard.com/2023/08/04/players-in-san-francisco-corruption-scandal-mohammed-nuru/">City Hall corruption scandal</a>.

The money flowing from Larsen and other wealthy tech execs in the city has agitated concerns that billionaires are winning an auction for San Francisco’s soul.

The money flowing from Larsen and other wealthy tech execs in the city has agitated concerns that billionaires are winning an auction for San Francisco’s soul.

Larsen and others in the centrist camp of Democratic politics in San Francisco openly admit they intend to leverage newly gained control of the local party to win a majority of seats on the Board of Supervisors and reform the city charter, giving Breed—or perhaps one of her rivals—more executive powers over department heads and policymaking commissions.

Larsen and others in the centrist camp of Democratic politics in San Francisco openly admit they intend to leverage newly gained control of the local party to win a majority of seats on the Board of Supervisors and reform the city charter, giving Breed—or perhaps one of her rivals—more executive powers over department heads and policymaking commissions.

“We need to get rid of the bureaucracy that’s holding everything back,” Larsen said. “Give the mayor the power. And then if they screw up, toss them out.”

“We need to get rid of the bureaucracy that’s holding everything back,” Larsen said. “Give the mayor the power. And then if they screw up, toss them out.”

<h2 class="wp-block-heading" id="h-a-trump-like-candidate-for-mayor">A ‘Trump-like’ candidate for mayor</h2>

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<h2 class="wp-block-heading" id="h-a-trump-like-candidate-for-mayor">A ‘Trump-like’ candidate for mayor</h2>

Any shortcomings of Breed’s administration, Larsen said, should be laid at the feet of an obstructionary Board of Supervisors. He blames the “far left” for the toxicity of San Francisco politics, but he also believes that tech and business interests will no longer be cowed into submission by progressive activists.&nbsp;

Any shortcomings of Breed’s administration, Larsen said, should be laid at the feet of an obstructionary Board of Supervisors. He blames the “far left” for the toxicity of San Francisco politics, but he also believes that tech and business interests will no longer be cowed into submission by progressive activists.&nbsp;

“That’s really fundamentally changed,” Larsen said. “The attacks? It seems like paper tigers, frankly.”

“That’s really fundamentally changed,” Larsen said. “The attacks? It seems like paper tigers, frankly.”

Larsen contends that anything other than a Breed victory in November would put San Francisco in a worse position. Aaron Peskin, the progressive president of the board and a presumed candidate for mayor, presents a doomsday scenario for moderates if they were able to achieve all of their goals this year but lose the Mayor’s Office.

Larsen contends that anything other than a Breed victory in November would put San Francisco in a worse position. Aaron Peskin, the progressive president of the board and a presumed candidate for mayor, presents a doomsday scenario for moderates if they were able to achieve all of their goals this year but lose the Mayor’s Office.

“If [Peskin] were to become mayor … that would be catastrophic, because he’s just a divisive, anti-housing figure,” said Larsen, who added that he used to be neighbors with the supervisor when he lived near Telegraph Hill. “He’s just all the bad stuff that we’ve been living through: the architect of this bureaucracy.”

“If [Peskin] were to become mayor … that would be catastrophic, because he’s just a divisive, anti-housing figure,” said Larsen, who added that he used to be neighbors with the supervisor when he lived near Telegraph Hill. “He’s just all the bad stuff that we’ve been living through: the architect of this bureaucracy.”

Peskin declined to comment for this story.

Peskin declined to comment for this story.

Larsen suggested that candidate Daniel Lurie, an anti-poverty nonprofit founder and wealthy heir to the Levi Strauss fortune, lacks the experience to deal with the “swamp.” Meanwhile, Larsen’s greatest animus is reserved for Mark Farrell, a former supervisor and mayor who is tacking to the right of Breed. Farrell has talked tough about clearing homeless encampments within a year, firing the police chief and putting more cops on the street.

Larsen suggested that candidate Daniel Lurie, an anti-poverty nonprofit founder and wealthy heir to the Levi Strauss fortune, lacks the experience to deal with the “swamp.” Meanwhile, Larsen’s greatest animus is reserved for Mark Farrell, a former supervisor and mayor who is tacking to the right of Breed. Farrell has talked tough about clearing homeless encampments within a year, firing the police chief and putting more cops on the street.

Mark Farrell, a former San Francisco mayor and supervisor, formally announce his candidacy at the San Francisco Baseball Academy at 3010 Geary Boulevard in San Francisco on Tuesday, Feb. 13, 2024. Mark Farrell will challenge London Breed and other candidates in the November 2024 mayoral election.

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/02/20240205farrellmayor008.jpg?w=2500" alt="A man at a podium with a &quot;Mark Farrell for Mayor&quot; sign and supporters behind him." class="wp-image-249200"/><figcaption class="wp-element-caption">Mark Farrell's effort to unseat Mayor London Breed in the 2024 election has made him a target of crypto billionaire Chris Larsen, who supports the incumbent.</figcaption></figure>

“Mark Farrell and his BS about he’s just going to come in and magically wave his wand, I mean, it’s Trump-like lying about that stuff,” Larsen said. “That guy is just an opportunist. He’ll say anything. Where was he during the pandemic, by the way?”

“Mark Farrell and his BS about he’s just going to come in and magically wave his wand, I mean, it’s Trump-like lying about that stuff,” Larsen said. “That guy is just an opportunist. He’ll say anything. Where was he during the pandemic, by the way?”

Larsen added: “I get mad at the progressives. They want to label everybody ‘right-wing’ that opposes them. But with a Mark Farrell, that is what you’re going to get. He’s basically a Republican running for mayor.”

Larsen added: “I get mad at the progressives. They want to label everybody ‘right-wing’ that opposes them. But with a Mark Farrell, that is what you’re going to get. He’s basically a Republican running for mayor.”

Jade Tu, Farrell’s campaign manager, said that Larsen should be “ashamed of himself” for comparing Farrell, a lifelong Democrat, to Donald Trump. She accused Larsen of “gaslighting” while noting his support of far-left District Attorney Chesa Boudin. 

Jade Tu, Farrell’s campaign manager, said that Larsen should be “ashamed of himself” for comparing Farrell, a lifelong Democrat, to Donald Trump. She accused Larsen of “gaslighting” while noting his support of far-left District Attorney Chesa Boudin.

Larsen dropped $115,000 in 2022 in an attempt to thwart the recall of Boudin—one of the most progressive prosecutors in the country and, ironically, a foil of Breed’s.&nbsp;

Larsen dropped $115,000 in 2022 in an attempt to thwart the recall of Boudin—one of the most progressive prosecutors in the country and, ironically, a foil of Breed’s.&nbsp;

DA Chesa Boudin addresses is supporters at The Ramp on Terry A Francois Blvd in San Francisco, Calif. on Tues. June 7, 2022. | Camille Cohen/The Standard

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2022/06/NEW-1-scaled.jpg?w=2500" alt="Chesa Boudin stands before a crowd, facing bright lights, holding a microphone." class="wp-image-53709"/><figcaption class="wp-element-caption">Chesa Boudin, San Francisco's former district attorney, received financial support from Chris Larsen during the 2022 recall, but the prosecutor was still ousted. | Camille Cohen/The Standard</figcaption></figure>

“The one thing I will criticize [Boudin] on is he didn’t work enough with the mayor or with the police,” Larsen said by way of explanation. “That was kind of a lost opportunity.”

“The one thing I will criticize [Boudin] on is he didn’t work enough with the mayor or with the police,” Larsen said by way of explanation. “That was kind of a lost opportunity.”

But he quickly pivoted, giving money to District Attorney Brooke Jenkins, who actively worked to recall her predecessor.

But he quickly pivoted, giving money to District Attorney Brooke Jenkins, who actively worked to recall her predecessor.

“Chris Larsen is backing the status quo, failed leadership and a mayor with over a 70% disapproval rating,” Tu said. “Good luck with that.”

“Chris Larsen is backing the status quo, failed leadership and a mayor with over a 70% disapproval rating,” Tu said. “Good luck with that.”

<h2 class="wp-block-heading" id="h-finding-security-in-surveillance">Finding security in surveillance</h2>

As far as eccentric billionaires go, Larsen has a little Bruce Wayne in him. The earnest yet enigmatic 63-year-old entrepreneur was born in San Francisco before growing up in a tract home in Cupertino. He was the middle child of a United Airlines mechanic father and a freelance artist mother who fled Nazi Germany during World War II.

As far as eccentric billionaires go, Larsen has a little Bruce Wayne in him. The earnest yet enigmatic 63-year-old entrepreneur was born in San Francisco before growing up in a tract home in Cupertino. He was the middle child of a United Airlines mechanic father and a freelance artist mother who fled Nazi Germany during World War II.

He watched his father—a union man “out of central casting,” Larsen said—grow angry and bitter over the way financial institutions put the screws to him when refinancing his home or applying for loans. This struggle shaped Larsen, who graduated from San Francisco State University before working as an accountant for Chevron and graduating from Stanford’s business school. He went on to launch startup companies E-Loan and Prosper, the latter of which focused on peer-to-peer lending.

He watched his father—a union man “out of central casting,” Larsen said—grow angry and bitter over the way financial institutions put the screws to him when refinancing his home or applying for loans. This struggle shaped Larsen, who graduated from San Francisco State University before working as an accountant for Chevron and graduating from Stanford’s business school. He went on to launch startup companies E-Loan and Prosper, the latter of which focused on peer-to-peer lending.

Over the years, Larsen mostly remained a quiet observer of local politics who donated millions to local causes with little fanfare. He founded Ripple Labs in 2012 and soon became one of the richest people in the world—in 2018, his net worth was estimated at $59 billion, but he is now worth a rather modest $3 billion.

Over the years, Larsen mostly remained a quiet observer of local politics who donated millions to local causes with little fanfare. He founded Ripple Labs in 2012 and soon became one of the richest people in the world—in 2018, his net worth was estimated at $59 billion, but he is now worth a rather modest $3 billion.

Chris Larsen, co-founder and executive chairman of Ripple, poses for a portrait at Ripple’s headquarters in San Francisco on Wednesday, Mar. 13, 2024. Larsen is a crypto billionaire who has drawn comparisons to the fictional Batman character Bruce Wayne for his aggressive approach to public safety in San Francisco and is viewed by some as an interloper intent on creating a surveillance state that mostly serves to advance his ambitions for greater wealth and control, while Larsen's supporters have called him a benevolent force for good in a city that has gone off the rails.

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/03/inlined08_20240318chrislarsen.jpg?w=2500" alt="Chris Larsen sits on a modular wooden bench in Ripple Labs’ office while surrounded by colorful cushions." class="wp-image-261140"/><figcaption class="wp-element-caption">Chris Larsen serves as executive chairman of Ripple, but also spends considerable time working in other fields such as politics and climate change.</figcaption></figure>

It was in 2016, when Larsen said that multiple property crimes occurred at his family’s home in Russian Hill, that he became more animated about San Francisco politics.

It was in 2016, when Larsen said that multiple property crimes occurred at his family’s home in Russian Hill, that he became more animated about San Francisco politics.

En route to the airport, Larsen’s father-in-law parked his car by the family’s home near the Lombard Street steps for a quick visit. “He comes into the house for two minutes, and his luggage is cleaned out,” Larsen recalled. Not long after, a person hopped over the fence around Larsen’s yard and tried to break into the house, he said.

En route to the airport, Larsen’s father-in-law parked his car by the family’s home near the Lombard Street steps for a quick visit. “He comes into the house for two minutes, and his luggage is cleaned out,” Larsen recalled. Not long after, a person hopped over the fence around Larsen’s yard and tried to break into the house, he said.

It’s not clear if Larsen filed police reports, but he met with then-District Attorney George Gascón's team to share information about the incidents and the professional crews of thieves he suspected were targeting San Francisco.

It’s not clear if Larsen filed police reports, but he met with then-District Attorney George Gascón's team to share information about the incidents and the professional crews of thieves he suspected were targeting San Francisco.

It’s a far cry from a ripped pearl necklace and an alleyway shooting that claimed Bruce Wayne’s parents in the Batman films, traumatizing the boy into a bat fetish, yet it’s clear the incidents spurred Larsen to become one of the most active political donors in city history.

It’s a far cry from a ripped pearl necklace and an alleyway shooting that claimed Bruce Wayne’s parents in the Batman films, traumatizing the boy into a bat fetish, yet it’s clear the incidents spurred Larsen to become one of the most active political donors in city history.

By that time, Larsen had already spent several years bankrolling security cameras around San Francisco. Today, more than 1,500 cameras—mostly managed by a half-dozen community benefit districts—now blanket neighborhoods like Union Square, Fisherman’s Wharf, Russian Hill, Japantown and the Tenderloin.&nbsp;&nbsp;

By that time, Larsen had already spent several years bankrolling security cameras around San Francisco. Today, more than 1,500 cameras—mostly managed by a half-dozen community benefit districts—now blanket neighborhoods like Union Square, Fisherman’s Wharf, Russian Hill, Japantown and the Tenderloin.&nbsp;&nbsp;

A homeless tent encampment along Willow Street in the Tenderloin neighborhood of San Francisco on Thursday, Jan. 19, 2024. Experts suggest that the pricing of Fentanyl is lower in San Francisco compared to Los Angeles and other major cities, pointing to the presence of a larger market and this may explain the increase in drug users coming to San Francisco.

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/03/inlined05_20240318chrislarsen.jpg?w=2500" alt="An alley in the Tenderloin with tents, graffiti, a person and a dog in a homeless encampment." class="wp-image-261137"/><figcaption class="wp-element-caption">Surveillance cameras are being installed in blocks across the Tenderloin after Chris Larsen donated money to the neighborhood's community benefit district.</figcaption></figure>

The cameras have helped solve <a href="https://www.kron4.com/news/bay-area/girl-4-kidnapped-in-san-francisco-is-still-missing-police-say/">kidnappings</a>, among other crimes, but privacy advocates have expressed alarm over the way people can be tracked. The American Civil Liberties Union and Electronic Frontier Foundation (EFF) both oppose Larsen’s privately funded surveillance network, but he dismissed their concerns as a fundraising strategy.

The cameras have helped solve <a href="https://www.kron4.com/news/bay-area/girl-4-kidnapped-in-san-francisco-is-still-missing-police-say/">kidnappings</a>, among other crimes, but privacy advocates have expressed alarm over the way people can be tracked. The American Civil Liberties Union and Electronic Frontier Foundation (EFF) both oppose Larsen’s privately funded surveillance network, but he dismissed their concerns as a fundraising strategy.

“It’s lovely that Mr. Larsen is concerned about our finances, but we’re doing just fine, thanks,” said Cindy Cohn, executive director of the EFF. She added that Larsen must be doing well if he can afford to spend so much money on ballot measures “to drown out the voices of concerned citizens.”

“It’s lovely that Mr. Larsen is concerned about our finances, but we’re doing just fine, thanks,” said Cindy Cohn, executive director of the EFF. She added that Larsen must be doing well if he can afford to spend so much money on ballot measures “to drown out the voices of concerned citizens.”

Larsen said the city’s problems around property crime are “easy to solve” through surveillance technology. He warned that a failure to implement new strategies in the police department, which is experiencing a staff shortage in the hundreds while new cadet classes are in the teens, could lead to harsher tough-on-crime policies.

Larsen said the city’s problems around property crime are “easy to solve” through surveillance technology. He warned that a failure to implement new strategies in the police department, which is experiencing a staff shortage in the hundreds while new cadet classes are in the teens, could lead to harsher tough-on-crime policies.

“Most San Franciscans want criminal justice reform,” Larsen said. “They want to make sure that police are held accountable when they do things wrong. But that doesn’t mean you can have public safety empowering these [property crime] crews.”

“Most San Franciscans want criminal justice reform,” Larsen said. “They want to make sure that police are held accountable when they do things wrong. But that doesn’t mean you can have public safety empowering these [property crime] crews.”

<h2 class="wp-block-heading" id="h-while-you-were-sleeping">While you were sleeping</h2>

Larsen lives with his wife and two sons in Russian Hill in a home that was apparently designed by architect Earle B. Bertz and features a panoramic view of the bay, a Tuscan courtyard and a wine cellar.

Larsen lives with his wife and two sons in Russian Hill in a home that was apparently designed by architect Earle B. Bertz and features a panoramic view of the bay, a Tuscan courtyard and a wine cellar.

In his free time, he swims to stay in shape and spends weekends restoring classic cars with one of his sons. They’ve already fixed up a 1962 Volkswagen bus, and they’re currently restoring a 1965 Porsche 911, a vehicle Car and Driver called <a href="https://www.caranddriver.com/reviews/a42620773/1965-porsche-911-by-the-numbers/">“the stuff legends are made of.”</a>

In his free time, he swims to stay in shape and spends weekends restoring classic cars with one of his sons. They’ve already fixed up a 1962 Volkswagen bus, and they’re currently restoring a 1965 Porsche 911, a vehicle Car and Driver called <a href="https://www.caranddriver.com/reviews/a42620773/1965-porsche-911-by-the-numbers/">“the stuff legends are made of.”</a>

However, Larsen didn’t become one of the richest people in the world without maniacally optimizing every minute of his day—including when he’s asleep.&nbsp;

However, Larsen didn’t become one of the richest people in the world without maniacally optimizing every minute of his day—including when he’s asleep.&nbsp;

Larsen separates his daily work into “pods” that include: his role as executive chairman of Ripple’s board; another pod for climate change projects with Mike Brune, the former head of the Sierra Club; a politics pod with Alex Tourk, a City Hall power player who now runs a consulting firm; a global philanthropy pod overseen by Rippleworks, a nonprofit his company launched in 2015; and a pod assisting his wife, Lyna Lam, a Cambodian refugee who runs the Khmer Buddhist Foundation, which is building a temple in San Jose.

Larsen separates his daily work into “pods” that include: his role as executive chairman of Ripple’s board; another pod for climate change projects with Mike Brune, the former head of the Sierra Club; a politics pod with Alex Tourk, a City Hall power player who now runs a consulting firm; a global philanthropy pod overseen by Rippleworks, a nonprofit his company launched in 2015; and a pod assisting his wife, Lyna Lam, a Cambodian refugee who runs the Khmer Buddhist Foundation, which is building a temple in San Jose.

In 2018, Larsen and Lam made a <a href="https://franciscopark.org/announcing-francisco-parks-newest-leadership-gift-more-news/">$2.5 million donation</a> to help create the scenic Francisco Park near their home in Russian Hill.

In 2018, Larsen and Lam made a <a href="https://franciscopark.org/announcing-francisco-parks-newest-leadership-gift-more-news/">$2.5 million donation</a> to help create the scenic Francisco Park near their home in Russian Hill.

Francisco Park on May 14, 2002 in San Francisco, Calif. 

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2022/06/FanciscoPark-scaled.jpg?w=2500" alt="A sunset cityscape with Francisco Park seen at sunset with buildings and distant mountains in the background under a golden sky." class="wp-image-57353"/><figcaption class="wp-element-caption">On top of his political contributions, Chris Larsen helped fund the creation of Francisco Park in the city’s Russian Hill neighborhood. </figcaption></figure>

“Yeah, there’s a ton going on, and it just kind of mixes economics, politics, technology,” said Larsen, who described his work on climate change as the most fun—before ominously noting he expects a sharp increase in heat-related deaths around the globe this summer.

“Yeah, there’s a ton going on, and it just kind of mixes economics, politics, technology,” said Larsen, who described his work on climate change as the most fun—before ominously noting he expects a sharp increase in heat-related deaths around the globe this summer.

Asheesh Birla, a tech investor whom Larsen hired to work at Ripple a decade ago before going on to serve on the company’s board, said that while running Ripple, Larsen had a hard-and-fast rule to leave work at 5:30 p.m. to pick up his kids from school before hopping back online later in the evening.

Asheesh Birla, a tech investor whom Larsen hired to work at Ripple a decade ago before going on to serve on the company’s board, said that while running Ripple, Larsen had a hard-and-fast rule to leave work at 5:30 p.m. to pick up his kids from school before hopping back online later in the evening.

“It’s very deliberate,” Birla said. “He’s got a great routine.”

“It’s very deliberate,” Birla said. “He’s got a great routine.”

Part of that routine also involves going to bed at 9:30 p.m., waking up at 3 a.m. to read the news or a book for two and a half hours, going back to bed from 5:30 a.m. to 7 a.m., and then waking up to get the kids off to school. The nocturnal reading keeps Larsen informed and ahead of the curve, while that last 90 minutes of sleep apparently fuels his ability to see beyond the horizon.

Part of that routine also involves going to bed at 9:30 p.m., waking up at 3 a.m. to read the news or a book for two and a half hours, going back to bed from 5:30 a.m. to 7 a.m., and then waking up to get the kids off to school. The nocturnal reading keeps Larsen informed and ahead of the curve, while that last 90 minutes of sleep apparently fuels his ability to see beyond the horizon.

“Those are the best dreams,” Larsen said.

“Those are the best dreams,” Larsen said.

Chris Larsen, co-founder and executive chairman of Ripple Labs, and former E-Loan co-founder speaks to people at his office in San Francisco on Tuesday, Sept. 5, 2023.

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2024/03/inlined04_20240401-chrislarsen.jpg?w=2500" alt="A man in a checkered blazer gestures while speaking in a meeting, with bottled drinks and a blurred foreground." class="wp-image-261943"/><figcaption class="wp-element-caption">Chris Larsen's political spending has helped numerous candidates and ballot measures in San Francisco, and he expects to continue funding efforts on the road to November. </figcaption></figure>

Whether business or political, not all of Larsen’s bets have paid off. In late January, he acknowledged that <a href="https://twitter.com/chrislarsensf/status/1752702297971532258?s=20">hackers got the best of him</a> and made off with an estimated $112 million in cryptocurrency.&nbsp;

Whether business or political, not all of Larsen’s bets have paid off. In late January, he acknowledged that <a href="https://twitter.com/chrislarsensf/status/1752702297971532258?s=20">hackers got the best of him</a> and made off with an estimated $112 million in cryptocurrency.&nbsp;

That news came just a week after city officials announced that anti-crime nonprofit <a href="https://sfstandard.com/2024/02/23/san-francisco-police-cancel-sf-safe-nonprofit-contract/">San Francisco SAFE</a>—an organization Larsen funded to the tune of <a href="https://sfstandard.com/2024/01/23/san-francisco-safe-nonprofit-chris-larsen-grant-funding/">$1.8 million</a>—had improperly billed luxury gift boxes, limo rides, valet parking and other purchases.

San Francisco police cancel up to $5.4M contract with troubled nonprofit SF SAFE

Crypto boss who gave $1.8M to San Francisco crime nonprofit wants audit of &#8216;discrepancies&#8217;

That news came just a week after city officials announced that anti-crime nonprofit <a href="https://sfstandard.com/2024/02/23/san-francisco-police-cancel-sf-safe-nonprofit-contract/">San Francisco SAFE</a>—an organization Larsen funded to the tune of <a href="https://sfstandard.com/2024/01/23/san-francisco-safe-nonprofit-chris-larsen-grant-funding/">$1.8 million</a>—had improperly billed luxury gift boxes, limo rides, valet parking and other purchases.

The incidents were embarrassing but have not dissuaded Larsen from continuing to be politically engaged. Calming public safety fears and jump-starting the economy—and <a href="https://sfstandard.com/2023/10/16/yimby-winning-san-francisco-housing-war/">ramping up the production of housing</a>—will require substantial changes in how decisions are made in San Francisco, he said, as well as who makes those decisions.&nbsp;

Are YIMBYs on the verge of winning San Francisco’s housing war?

The incidents were embarrassing but have not dissuaded Larsen from continuing to be politically engaged. Calming public safety fears and jump-starting the economy—and <a href="https://sfstandard.com/2023/10/16/yimby-winning-san-francisco-housing-war/">ramping up the production of housing</a>—will require substantial changes in how decisions are made in San Francisco, he said, as well as who makes those decisions.&nbsp;

Larsen doesn’t see the runway to progress as a marathon.

Larsen doesn’t see the runway to progress as a marathon.

“It’s a small city,” he said. “It doesn’t take much to turn the tide. I also think that the real estate thing could turn any second. The big players haven’t jumped in yet. You’re seeing family offices scooping up bargains. When the big guys come in, they’re going to come in fast.”

“It’s a small city,” he said. “It doesn’t take much to turn the tide. I also think that the real estate thing could turn any second. The big players haven’t jumped in yet. You’re seeing family offices scooping up bargains. When the big guys come in, they’re going to come in fast.”

Correction: This story has been updated to note that Larsen and his son are restoring a 1965 Porsche 911.

Correction: This story has been updated to note that Larsen and his son are restoring a 1965 Porsche 911.

Crypto billionaire Chris Larsen showers cash on London Breed—and scorn on her foes

Annie Gaus

David Chiu (D-San Francisco), who represents the eastern half of San Francisco in the California State Assembly, has been appointed by Mayor London Breed to serve as City Attorney.

David Chiu (D-San Francisco), who represents the eastern half of San Francisco in the California State Assembly, has been appointed by Mayor London Breed to serve as City Attorney.

Chiu, a longtime political fixture who served three terms as President of the Board of Supervisors before winning his current seat, will assume the position now occupied by City Attorney Dennis Herrera. Herrera, who has served as City Attorney since 2001, was nominated by Breed to lead the Public Utilities Commision and <a href="https://sfstandard.com/city-attorney-dennis-herrera-approved-to-lead-public-utilities-commission/">approved for that position</a> on Tuesday.&nbsp;

Chiu, a longtime political fixture who served three terms as President of the Board of Supervisors before winning his current seat, will assume the position now occupied by City Attorney Dennis Herrera. Herrera, who has served as City Attorney since 2001, was nominated by Breed to lead the Public Utilities Commision and <a href="https://sfstandard.com/city-attorney-dennis-herrera-approved-to-lead-public-utilities-commission/">approved for that position</a> on Tuesday.&nbsp;

Chiu’s appointment opens up a coveted and rarely-available seat in the state assembly, setting the stage for a high-stakes campaign sprint and political shakeup in the legislature and City Hall.&nbsp; David Campos, chief of staff to District Attorney Chesa Boudin and a former two-term city supervisor, announced a campaign for state assembly last month in advance of Chiu's appointment. Campos ran unsuccessfully against Chiu for state assembly in 2013.&nbsp;

Chiu’s appointment opens up a coveted and rarely-available seat in the state assembly, setting the stage for a high-stakes campaign sprint and political shakeup in the legislature and City Hall.&nbsp; David Campos, chief of staff to District Attorney Chesa Boudin and a former two-term city supervisor, announced a campaign for state assembly last month in advance of Chiu's appointment. Campos ran unsuccessfully against Chiu for state assembly in 2013.&nbsp;

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Matt Haney, who represents District 6 on the Board of Supervisors, also announced a run for Chiu’s seat. Other candidates include Bilal Mahmood, a technology entrepreneur and former policy analyst at the U.S. Department of Commerce, and Thea Selby, a member of the City College Board of Trustees.&nbsp;

Matt Haney, who represents District 6 on the Board of Supervisors, also announced a run for Chiu’s seat. Other candidates include Bilal Mahmood, a technology entrepreneur and former policy analyst at the U.S. Department of Commerce, and Thea Selby, a member of the City College Board of Trustees.&nbsp;

As City Attorney, Chiu will serve as the top legal counsel for the City and County of San Francisco until at least 2023, when he will have to run for re-election.&nbsp;

As City Attorney, Chiu will serve as the top legal counsel for the City and County of San Francisco until at least 2023, when he will have to run for re-election.&nbsp;

Chiu will be responsible for a wide range of litigation on behalf of the city, including claims, code enforcement, public contracts, drafting of legislation, and general legal advice for departments and policymakers. The City Attorney is also responsible for enforcing good government principles, and launched a local corruption probe in February 2020 stemming from the indictment of Mohammed Nuru, former head of Public Works, and a number of other public officials and city contractors.&nbsp;

Chiu will be responsible for a wide range of litigation on behalf of the city, including claims, code enforcement, public contracts, drafting of legislation, and general legal advice for departments and policymakers. The City Attorney is also responsible for enforcing good government principles, and launched a local corruption probe in February 2020 stemming from the indictment of Mohammed Nuru, former head of Public Works, and a number of other public officials and city contractors.&nbsp;

"I cant think of anyone better to serve as the next City Attorney of San Francisco than Assemblymember David Chiu," said Breed on Wednesday.

"I cant think of anyone better to serve as the next City Attorney of San Francisco than Assemblymember David Chiu," said Breed on Wednesday.

<figure class="wp-block-image size-full"><img src="https://content.sfstandard.com/wp-content/uploads/2021/09/20210929-DSC_4737.jpg" alt="" class="wp-image-11050"/><figcaption>Mayor London Breed, David Chiu and Dennis Herrera approach the podium on Sept. 29, 2021. | Photo by Sophie Bearman</figcaption></figure>

Herrera, who will start at the Public Utilities Commission on Nov. 1, told reporters that the City Attorney's investigations will continue. In conjunction with the Controller's Office, the City Attorney plans to publish a public integrity assessment of the PUC in December 2021 and issued more than 20 subpoenas of various city contractors and nonprofits.

Herrera, who will start at the Public Utilities Commission on Nov. 1, told reporters that the City Attorney's investigations will continue. In conjunction with the Controller's Office, the City Attorney plans to publish a public integrity assessment of the PUC in December 2021 and issued more than 20 subpoenas of various city contractors and nonprofits.

"We have been working diligently over the past year and a half, both with the Controller's office and other law enforcement agencies, to make sure our departments live up to the highest ethical standards," said Herrera. "We have some of the most dedicated legal professionals anywhere...[who] will guide and advise Assemblymember Chiu as the investigations continue. And they will continue."

"We have been working diligently over the past year and a half, both with the Controller's office and other law enforcement agencies, to make sure our departments live up to the highest ethical standards," said Herrera. "We have some of the most dedicated legal professionals anywhere...[who] will guide and advise Assemblymember Chiu as the investigations continue. And they will continue."

Chiu's appointment triggers a special election for his Assembly seat that will take place sometime in the coming months.  

Chiu's appointment triggers a special election for his Assembly seat that will take place sometime in the coming months.

Governor Gavin Newsom has up to 14 days to set a special election date, according to <a href="https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=ELEC&amp;division=10.&amp;title=&amp;part=6.&amp;chapter=1.&amp;article=">California election rules</a>. The election could happen between 126 and 140 days after the declaration, with a primary election calculated backwards from that date by nine or ten weeks. An election can be scheduled up to 200 days from the declaration if it can consolidated with another race.

Governor Gavin Newsom has up to 14 days to set a special election date, according to <a href="https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=ELEC&amp;division=10.&amp;title=&amp;part=6.&amp;chapter=1.&amp;article=">California election rules</a>. The election could happen between 126 and 140 days after the declaration, with a primary election calculated backwards from that date by nine or ten weeks. An election can be scheduled up to 200 days from the declaration if it can consolidated with another race.

Whoever wins the assembly race could occupy the seat for up to 12 years, the maximum allowed under the state constitution. That person will represent California’s Assembly District 17 (AD-17), which spans the eastern neighborhoods of San Francisco and is one of two assembly districts in the city. The other is AD-19, which spans the western half of San Francisco, Daly City and Colma.&nbsp;

Whoever wins the assembly race could occupy the seat for up to 12 years, the maximum allowed under the state constitution. That person will represent California’s Assembly District 17 (AD-17), which spans the eastern neighborhoods of San Francisco and is one of two assembly districts in the city. The other is AD-19, which spans the western half of San Francisco, Daly City and Colma.&nbsp;

Candidates will have to rapidly raise money and capture the attention of voters in a short window of time—a tall order even for well-known figures like Campos and Haney. Looming in the background is the eventual retirement of 81-year-old House Speaker Nancy Pelosi (D-San Francisco). Whoever wins Chiu’s assembly seat could wind up a contender for that congressional seat, added Ross. 

Candidates will have to rapidly raise money and capture the attention of voters in a short window of time—a tall order even for well-known figures like Campos and Haney. Looming in the background is the eventual retirement of 81-year-old House Speaker Nancy Pelosi (D-San Francisco). Whoever wins Chiu’s assembly seat could wind up a contender for that congressional seat, added Ross.

Under California election rules, an assembly election could potentially be consolidated with any local elections coming up. There are two potential recall elections in the works, with a recall petition of three members of the San Francisco Board of Education expected to qualify for the ballot. Another campaign to recall District Attorney Chesa Boudin has until Oct. 25 to collect 52,000 valid signatures.

Under California election rules, an assembly election could potentially be consolidated with any local elections coming up. There are two potential recall elections in the works, with a recall petition of three members of the San Francisco Board of Education expected to qualify for the ballot. Another campaign to recall District Attorney Chesa Boudin has until Oct. 25 to collect 52,000 valid signatures.

The Department of Elections is due to certify the Board of Education recall petitions by Oct. 19. If it is consolidated with an Assembly election, “that could change the dynamics of the race,” said Ross.

The Department of Elections is due to certify the Board of Education recall petitions by Oct. 19. If it is consolidated with an Assembly election, “that could change the dynamics of the race,” said Ross.

“Since it’s a state race, and so much school policy comes out of the state, it could be an election on schools in San Francisco,” he said.

“Since it’s a state race, and so much school policy comes out of the state, it could be an election on schools in San Francisco,” he said.

Assemblymember David Chiu named San Francisco city attorney

Until this spring, Matt Dorsey spent the bulk of his career selling San Franciscans on the ideas of others. By the time a press statement or an op-ed under his control made its way out the door for public consumption, Dorsey’s fingerprints had usually been wiped clean. People inside the room always knew better.

Until this spring, Matt Dorsey spent the bulk of his career selling San Franciscans on the ideas of others. By the time a press statement or an op-ed under his control made its way out the door for public consumption, Dorsey’s fingerprints had usually been wiped clean. People inside the room always knew better.

As a deeply embedded political consultant, a spokesman of 14 years with the City Attorney's Office, a two-year head of strategic communications for the police department and now <a href="https://sfstandard.com/politics/mayor-breed-taps-matt-dorsey-a-police-spokesperson-and-longtime-civil-servant-to-lead-district-6/">an appointed supervisor</a> running in November's election, Dorsey knows where the bodies are buried and how to sell a story.&nbsp;

As a deeply embedded political consultant, a spokesman of 14 years with the City Attorney's Office, a two-year head of strategic communications for the police department and now <a href="https://sfstandard.com/politics/mayor-breed-taps-matt-dorsey-a-police-spokesperson-and-longtime-civil-servant-to-lead-district-6/">an appointed supervisor</a> running in November's election, Dorsey knows where the bodies are buried and how to sell a story.&nbsp;

“In a democracy,” Dorsey said in an interview this month, “communications is governing.”

“In a democracy,” Dorsey said in an interview this month, “communications is governing.”

His writing career started at Emerson College, where he learned how to influence public opinion as a campaign operative and ghostwriter. Over the course of three decades, his words have been relayed by a slew of San Francisco politicians and public agencies looking to control the narrative, and his strategic advice has often extended beyond the departments in which he works.&nbsp;

His writing career started at Emerson College, where he learned how to influence public opinion as a campaign operative and ghostwriter. Over the course of three decades, his words have been relayed by a slew of San Francisco politicians and public agencies looking to control the narrative, and his strategic advice has often extended beyond the departments in which he works.&nbsp;

“I have to tell you, he was much more than simply a communications person,” said Dennis Herrera, the former city attorney and current head of the city’s Public Utilities Commission. “He was part of my leadership team. He worked with all of our lawyers on some of the biggest legal issues of the past two decades.”

“I have to tell you, he was much more than simply a communications person,” said Dennis Herrera, the former city attorney and current head of the city’s Public Utilities Commission. “He was part of my leadership team. He worked with all of our lawyers on some of the biggest legal issues of the past two decades.”

San Francisco City Attorney's office spokesperson Matt Dorsey speaks during a rally and press conference on the steps of San Francisco City Hall on April 3, 2012. | Lea Suzuki/ SF Chronicle via Getty Image

<figure class="wp-block-image size-large"><img src="https://content.sfstandard.com/wp-content/uploads/2022/10/Dorsey-Profile-10072022_INLINED01-2500x1667.jpg" alt="" class="wp-image-84739"/><figcaption>San Francisco City Attorney's office spokesperson Matt Dorsey speaks during a rally and press conference on the steps of San Francisco City Hall on April 3, 2012. | Lea Suzuki/ SF Chronicle via Getty Image</figcaption></figure>

Dorsey’s writing typically combines a keen eye for details, dashes of empathy—he is almost universally regarded as a nice person—and a heavy dose of bravado. Projecting confidence is key to the Dorsey playbook. Among the many lessons he learned while confronting crises and earning his bosses positive press, one was to consistently reinforce a key message to the public: Progress is not only on the horizon—it is already being made.

Dorsey’s writing typically combines a keen eye for details, dashes of empathy—he is almost universally regarded as a nice person—and a heavy dose of bravado. Projecting confidence is key to the Dorsey playbook. Among the many lessons he learned while confronting crises and earning his bosses positive press, one was to consistently reinforce a key message to the public: Progress is not only on the horizon—it is already being made.

Since his May appointment as supervisor for San Francisco's Sixth District, which includes the South of Market area, the Design District, Rincon Hill, Mission Bay and Treasure Island, Dorsey’s insatiable work ethic has been on full display. He has held numerous press events with Mayor London Breed, District Attorney Brooke Jenkins and Police Chief Bill Scott. This foursome have linked arms since <a href="https://sfstandard.com/politics/chesa-boudin-recall/">the recall of progressive prosecutor Chesa Boudin</a> and vowed that, together, they are addressing the drug crisis and quality-of-life concerns plaguing San Francisco’s Downtown core.

Since his May appointment as supervisor for San Francisco's Sixth District, which includes the South of Market area, the Design District, Rincon Hill, Mission Bay and Treasure Island, Dorsey’s insatiable work ethic has been on full display. He has held numerous press events with Mayor London Breed, District Attorney Brooke Jenkins and Police Chief Bill Scott. This foursome have linked arms since <a href="https://sfstandard.com/politics/chesa-boudin-recall/">the recall of progressive prosecutor Chesa Boudin</a> and vowed that, together, they are addressing the drug crisis and quality-of-life concerns plaguing San Francisco’s Downtown core.

In a savvy move to corral earned media ahead of the election next month, <a href="https://sfstandard.com/politics/city-hall/nobodys-going-to-jail-supes-plan-to-fix-drug-crisis-asks-city-bosses-for-ideas-within-90-days/">Dorsey released a 27-page resolution</a>—replete with footnotes—on how he hopes to pool the city’s immense resources and finally address the city’s drug epidemic. The chances of his plan coming to fruition are likely slimmer than the documents on which they are written, but Dorsey received credit in most corners of City Hall for his collegiality in attempting to bring commissions and departments together.&nbsp;

In a savvy move to corral earned media ahead of the election next month, <a href="https://sfstandard.com/politics/city-hall/nobodys-going-to-jail-supes-plan-to-fix-drug-crisis-asks-city-bosses-for-ideas-within-90-days/">Dorsey released a 27-page resolution</a>—replete with footnotes—on how he hopes to pool the city’s immense resources and finally address the city’s drug epidemic. The chances of his plan coming to fruition are likely slimmer than the documents on which they are written, but Dorsey received credit in most corners of City Hall for his collegiality in attempting to bring commissions and departments together.&nbsp;

And while he claims a run for office higher than his current perch is not in the cards, the longtime political puppetmaster’s ambitions are starting to take form.

And while he claims a run for office higher than his current perch is not in the cards, the longtime political puppetmaster’s ambitions are starting to take form.

Crypto billionaire Chris Larsen showers cash on London Breed—and scorn on her foes

Assemblymember David Chiu named San Francisco city attorney

Recovering addict Matt Dorsey sells SF on how to solve its drug crisis

剪不斷理還亂：地檢官謝安宜上任前的收入與罷免運動有關

剪不断理还乱：地检官谢安宜上任前的收入与罢免运动有关

Search Results for: ethics commission

Crypto billionaire Chris Larsen showers cash on London Breed—and scorn on her foes

Assemblymember David Chiu named San Francisco city attorney

Recovering addict Matt Dorsey sells SF on how to solve its drug crisis

剪不斷理還亂：地檢官謝安宜上任前的收入 與罷免運動有關

剪不断理还乱：地检官谢安宜上任前的收入 与罢免运动有关

剪不斷理還亂：地檢官謝安宜上任前的收入與罷免運動有關

剪不断理还乱：地检官谢安宜上任前的收入与罢免运动有关