Tech Billionaires to Reshape San Fransisco Politics

(VitalNews.org) – The technology billionaires in San Francisco have been pushing heavily to change politics in the city.

Wealthy figures putting money into campaigns and politics so that they can sway influence is not something new; it’s something that we’ve been seeing a lot of in San Francisco and many have taken note of this. An analysis that was done by the Guardian reported campaign filings, non-profit records, and political contributions show that this is much deeper in San Francisco.

It showed that in the past 6 years, several prominent leaders such as Paypal co-founder David Sacks, billionaire investor Michael Moritz, hedge fund manager William Oberndorf, and more investors have given over $5.5 million into San Francisco to manipulate the system.

It’s said that these investors use something called the “grey money” network that allows them to create non-profits that interlock with each other, political action committees, and “dark money” groups to hide how much they are investing.

The reports show three major groups that collectively put in over $20 million since 202 and these groups are NeighborsSF, TogetherSF, and GrowSF. “They’re using multiple layers of organizations to hide the sources of their money, and to hide how much they’re spending,” said Jim Stearns, a political consultant.

“This is a $20bn hostile takeover of San Francisco by people with vested real estate and tech interests, and who don’t want anyone else deciding how the city is run,” he continued.

Essentially, these investors are looking to make a change in how the city is run and how they can combat homelessness, among other issues. Many have felt that the political leaders haven’t done enough for these issues so their way of combating this is to raise money to “fix the problem” via “dark money groups”, etc.

Upon looking into the details, it showed that many of the organizations overlapped and sent funds between one another, shared personnel, addresses, and more, which showed how deep these organizations were running before this year’s election.

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