As the upcoming mayoral election in San Francisco approaches, observers are closely monitoring the influx of money from wealthy financiers, including tech elites, in an effort to sway the city’s political landscape. Campaign finance records show millions of dollars flowing into the mayor’s race, board of supervisors seats, and ballot measures that would increase the mayor’s power.
Several candidates are vying for the top spot, with tech philanthropist Daniel Lurie emerging as a frontrunner in fundraising and public opinion polls. Incumbent London Breed, Mark Farrell, and progressive candidates like Aaron Peskin and Ahsha Safaí are also in the race, each receiving varying amounts of financial support.
A network of non-profit organizations and political action committees, funded by figures in tech, real estate, and venture capital, has also played a significant role in the election cycle. Neighbors for a Better San Francisco, labeled as a major player in city politics, has endorsed Farrell and Lurie for mayor.
The widespread influence of tech money in San Francisco’s politics has raised concerns among some experts, highlighting the industry’s growing power in California. The grey-money network, with tech industry support, is backing ballot measures and targeting board of supervisors members in an effort to shape the city’s governance.
With the state regulators cracking down on financial disclosure violations, the influence of these wealthy donors is facing scrutiny. The upcoming election will not only determine the city’s next leader but also shed light on the growing political power and influence of San Francisco’s tech elites.
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