© THE INTERCEPT
Crypto executive Chris Larsen has spent millions fighting billionaire tax measures, and he’s the largest individual donor to a PAC backing Wiener.
The leading progressive candidate to replace longtime Democratic leader Nancy Pelosi in Congress is opposing a pair of wealth taxes on the ballot in his state and district: a one-time statewide tax on California billionaires and a local San Francisco tax on the city’s wealthiest businesses and corporations.
California state Sen. Scott Wiener’s opposition might seem uncharacteristic for someone running a progressive campaign, but it’s consistent with the priorities of two top donors to a super PAC backing his candidacy.
Crypto mogul Chris Larsen and venture capitalist Garry Tan — a pair of wealthy Bay Area tech executives funding a pro-Wiener super PAC called Abundant Future — have been outspoken advocates of stopping the taxes, both of which aim to help fill funding gaps in healthcare and social services after the Trump administration’s recent cuts to Medicaid. Larsen has poured millions of dollars into the fight.
