San Francisco crypto billionaire Chris Larsen says he remains firmly behind outspoken liberal former Rep. Katie Porter in California’s closely watched gubernatorial race — even as he prepares to donate thousands of dollars to her conservative rival.
Larsen, the Ripple co-founder worth an estimated $10 billion, has already given the maximum $39,200 contribution to Porter’s campaign back in June. But he confirmed to Politico on Wednesday that he also plans to donate the same amount to Steve Hilton, a Republican candidate and former Fox News host.
The billionaire insisted his decision to back both candidates has nothing to do with recent viral videos showing Porter angrily berating a staffer — clips that coincided with a dip in her polling numbers.
“The viral video thing, the fact that that’s an issue is the stupidest thing I’ve ever heard,” Larsen said. “She’s tough. She comes across as tough. And, you know what? Right on. We need somebody who’s tough to take on the folks that are driving Sacramento.”
Larsen declined an interview request from The Post, but said he hopes Porter and Hilton both advance from California’s top-two primary in June and face each other in November, rather than a matchup between two Democrats or two Republicans.
“I’m 100 percent behind Katie Porter,” Larsen said, adding that he has met with Hilton multiple times. “They actually share something similar.”
He argued that California’s biggest challenges are rooted in rising costs and excessive regulations, saying both candidates focus on what he called “back-to-basics, kitchen-table” issues.
The tech investor also criticized the state’s polarized political climate, calling it “way, way too vilified” and deeply divided.
“Generally, a one-party supermajority is not really the best thing to have,” Larsen said.
Hilton, who previously advised former UK Prime Minister David Cameron, echoed Larsen’s comments, telling The Post that despite their party differences, they see California’s problems through a similar lens.
“Chris and I had a very good meeting of minds on the need for change in California, especially changing the business climate,” Hilton said. “It’s a complete nightmare in our state.”
He added that his experience in business and government reform positions him to “get California back on track.”
Porter’s campaign did not respond to requests for comment.
Larsen’s political track record reflects a long-standing willingness to cross party lines. In San Francisco, he previously supported moderate Democrat London Breed for mayor while also backing progressive former District Attorney Chesa Boudin, whose tenure ended in a high-profile voter recall amid concerns over crime.
Those seemingly conflicting endorsements puzzled some of Larsen’s allies, but align with his tendency to prioritize personal beliefs over party loyalty.
His deeper political involvement began after a series of property crimes near his Russian Hill home in 2016. Since then, Larsen has become one of San Francisco’s most influential political donors, helping fund a citywide surveillance camera network and bankrolling advertising campaigns aimed at countering the city’s post-pandemic “doom loop” reputation.
As California’s governor’s race heats up, Larsen’s unconventional strategy underscores his belief that meaningful change can come from outside rigid partisan boundaries.
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