CA-11: Chakrabarti taps nearly $10 million of personal wealth to succeed Pelosi

[RandySF]

Centimillionaire Saikat Chakrabarti has kept his money spigot flowing freely in his quest to succeed U.S. Rep. Nancy Pelosi, personally contributing or loaning almost all of the $10.3 million his campaign had raised as of May 14.

The nearly $5 million Chakrabarti had poured into his campaign since April 1 was again more than what all that of his competitors combined raised during the period as they marched toward the June 2 primary. The top two vote getters will advance to the November election to represent San Francisco's District 11.

Chakrabarti has the advantage of a more than $150 million fortune won as an early engineer at the payments processing company Stripe. His campaign had spent more than $8.8 million - about the amount he had loaned it - by May 13, bringing its cash on hand to just under $385,000. The next day, Chakrabarti made a $1.1 million contribution.

In addition to tapping his own funds, Chakrabarti had received just under $56,000 in direct contributions from individual supporters for the period, bringing his total of direct contributions to nearly $417,000.



https://www.sfexaminer.com/news/politics/chakrabarti-taps-10-million-of-wealth-in-race-for-congress/article_fcc1da10-551d-4e3b-b467-7f6ee2e7f4d4.html