San Francisco crypto billionaire Chris Larsen insists he still supports hotheaded liberal ex-Rep. Katie Porter in the closely-watched California gubernatorial race — despite plans to donate thousands to her conservative opponent.
Larsen — the co-founder of Ripple who is worth some $10 billion, according to Forbes — already cut a maximum $39,200 check to Porter’s campaign in June, but revealed to Politico on Wednesday that he also intends to drop the same amount to support Steve Hilton, a former Fox News host.
The billionaire told the outlet that his hedging of bets had nothing to do with viral videos of Porter losing her cool and cursing out a staffer, which led to her plummeting in the polls.
“The viral video thing, the fact that that’s an issue is the stupidest thing I’ve ever heard,” Larsen said.
“I mean, 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,” he insisted.
Larsen, who declined The Post’s request for an interview, said he wants Porter and Hilton to advance out of California’s top-two primary in June and face off in November — rather than two Democrats or two Republicans squaring off.
“I’m 100 percent behind Katie Porter, but I’ve met with Steve a couple of times, and I’d say they share something similar,” Larsen said.
“California’s problems are some pretty basic things around costs and getting rid of some of the overburdensome [rules] regulations that are holding us back on multiple fronts. Both of them come at that ‘back to basics, kitchen table’ thing.
The tech entrepreneur and investor said the political environment is “way, way too vilified” and “divided.”
“Generally, a one-party supermajority is not really the best thing to have,” Larden said.
Meanwhile, Hilton, who served as an adviser to former UK Prime Minister David Cameron, told The Post that he and Larsen view the issues facing California through a similar lens, despite their differing political parties.
“I think Chris and I had a very good meeting of minds on the need for change in California, especially changing the business climate. It’s a complete nightmare in our state,” the gubernatorial hopeful said.
“My business background and government reform experience put me in a strong position to make the changes we need to get California back on track.”
Porter’s campaign did not respond to requests for comment.
Larsen has a history of political contradictions, including backing former San Francisco Mayor London Breed, a more moderate Democrat in the famously liberal city, while also supporting progressive District Attorney Chesa Boudin, whose tenure before being recalled by voters became a national lightning rod over drug crime prosecutions and criminal justice reform.
Those clashing endorsements in San Francisco left some of Larsen’s allies scratching their heads, but it fit his habit of ignoring party lines in favor of his own theory of change.
Larsen became more politically active in San Francisco after a string of property crimes near his Russian Hill home in 2016.
Since then, he has become one of the city’s most aggressive political spenders, bankrolling a network of surveillance cameras across San Francisco.
He also helped fund an ad campaign to change the crime-riddled, “doom loop” narrative that spiraled around San Francisco coming out of the pandemic.
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