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Chris Larsen's $500K donation to SF supervisor race spotlights unlimited PAC money

Chris Larsen's $500K donation to SF supervisor race spotlights unlimited PAC money

Money Moves San Francisco, CA local

A $540,000 independent spending push helped Theo Ellington win District 10. San Francisco's $500 direct-donation cap still does not touch PAC money.

November 3rd, 2026: Ellington wins District 10 supervisor race

Overview

Updated Sep 6

Chris Larsen gave $540,000 to an independent committee backing Theo Ellington in District 10, including a $40,000 top-up in late September. Ellington won the Nov. 3 election with 68.6% of the vote, taking the seat held by termed-out Supervisor Shamann Walton.

The race became a test of unlimited PAC money. Ellington's opponents ran a joint anti-billionaire campaign, and Ellington said the donation was 'more trouble than it's worth.' San Francisco still caps direct donations at $500 but lets independent committees take unlimited checks; the Ethics Commission's proposal to close a related loophole awaits Board of Supervisors action.

Why it matters

One $540,000 check helped decide a supervisor seat, showing how unlimited PAC money can outweigh the city's $500 donor cap.

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Key Indicators

$540K
Larsen's total giving to Ellington PAC
$500,000 on Sept. 3 plus $40,000 on Sept. 29.
68.6%
Ellington's vote share
Early results in the Nov. 3 District 10 election.
$500
Direct contribution cap per donor
The limit that independent PAC money bypasses entirely.
$488K
Ellington's campaign funds (early Sept)
Direct donations and public financing, according to Mission Local.
4-0
Ethics Commission vote on loophole reform
Commissioners unanimously recommended applying the $500 cap to candidate-controlled committees.

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People Involved

Chris Larsen
Chris Larsen
Co-founder of Ripple Labs; major San Francisco political donor
Gave $540,000 total to the pro-Ellington committee; Ellington won.
 Theo Ellington
Theo Ellington
Candidate for District 10 supervisor
Won the District 10 supervisor race on Nov. 3 with 68.6% of the vote.
 Dion-Jay "DJ" Brookter
Dion-Jay "DJ" Brookter
Candidate for District 10 supervisor
Lost the District 10 race to Theo Ellington; got 31.4% in early results.
 JR Eppler
JR Eppler
Candidate for District 10 supervisor
Eliminated in the final ranked-choice round; Ellington won.
 Aaron Peskin
Aaron Peskin
Former San Francisco supervisor; spending critic
Left office; continues to criticize campaign spending
 Daniel Lurie
Daniel Lurie
Mayor of San Francisco
Ellington, whom he endorsed, won District 10; his moderate bloc gains a seat.
 Shamann Walton
Shamann Walton
Incumbent District 10 supervisor
Termed out; endorsed DJ Brookter, who lost to Theo Ellington.

Organizations Involved

FN
From the Neighborhood, for the City, Supporting Theo Ellington for Supervisor 2026
Political Action Committee
Backed Theo Ellington, who won the Nov. 3 election.

Independent expenditure committee created weeks before Larsen's donation to back Ellington.
GrowSF
GrowSF
Political action committee
Endorsed Theo Ellington, who won District 10.

Moderate San Francisco PAC backing pro-housing, pro-business candidates.
San Francisco Ethics Commission
San Francisco Ethics Commission
City ethics regulator
Voted 4-0 in August to recommend closing the candidate-controlled committee loophole; proposal awaits Board of Supervisors approval

City agency that regulates and discloses campaign spending in San Francisco elections.
Clean Up City Hall
Clean Up City Hall
Ballot Measure Committee
Supports Mayor Lurie's charter reform measures

Committee backing Lurie's measures to modernize contracting and consolidate mayoral power.

Timeline

June 2026 November 2026

12 events Latest: November 3rd, 2026 · 1 week ago Showing 8 of 12
Tap a bar to jump to that date

  1. Ellington wins District 10 supervisor race

    Latest Election

    Theo Ellington defeated Dion-Jay 'DJ' Brookter 68.6% to 31.4% in early results. JR Eppler was eliminated in the final ranked-choice round.

  2. Ellington says Larsen donation 'more trouble than it's worth'

    Statement

    Ellington said the fallout from the $540,000 in outside support had hurt more than helped his campaign.

  3. Brookter and Eppler launch joint anti-billionaire campaign

    Campaign

    The two District 10 candidates paired up with a ranked-choice strategy and adopted 'District 10 can't be bought' as a slogan.

  4. Ellington backs limits on billionaire PAC funding at Bayview forum

    Statement

    Asked whether he would restrict billionaire funding of PACs, Ellington held up a green sign for yes. He also said he would not renew the city's Flock camera contract without strict retention limits and supported a data center ban.

  5. Larsen adds $40,000 to pro-Ellington PAC

    Campaign Finance

    Chris Larsen gave another $40,000 to the committee backing Theo Ellington. He said the money would cover expenses for the team managing the PAC.

  6. Brookter urges pro-Ellington PAC to send Larsen money to Bayview

    Statement

    At City Hall, DJ Brookter called on the committee backing Theo Ellington to redirect Chris Larsen's $500,000 to the Bayview community.

  7. Opponents attack the donation

    Statement

    Brookter and Eppler call the check proof of billionaire influence in a working-class district.

  8. Larsen drops $500K on Ellington PAC

    Campaign Finance

    Donation is among the largest ever to a group backing one San Francisco candidate.

  9. Ellington PAC founded

    Campaign Finance

    Independent committee 'From the Neighborhood, for the City' formed to back Ellington.

  10. SF Ethics Commission votes 4-0 to recommend closing campaign finance loophole

    Regulatory

    Commissioners voted unanimously in August to propose applying the city's $500 contribution cap to candidate-controlled committees. The Board of Supervisors must approve the proposal.

  11. Moritz gives $250K to GrowSF PAC

    Campaign Finance

    Michael Moritz gives $250K to a GrowSF PAC backing Alan Wong's District 4 bid.

  12. June primary tests Lurie-aligned candidates

    Election

    Larsen funds independent groups backing the mayor's allies in the June election.

Scenarios

1

Ellington wins D10, giving Lurie's bloc a new seat

Deadline passed (Nov 3, 2026)

Discussed by: San Francisco political observers cited by The Standard and Mission Local

Ellington's campaign holds a cash lead of roughly $300,000 over his nearest rival, and GrowSF's endorsement gives him organizational backing. If that holds through November, he joins the Board as a reliable vote for Lurie's housing and public-safety agenda. District 10, a historically Black and working-class area, would send a moderate to a board where moderates are already gaining ground.

2

SF closes unlimited PAC donation loophole

Possible Resolves by Q2 2027

Discussed by: Mission Local reporting on ethics officials; former Supervisor Aaron Peskin

Record donations in back-to-back supervisor races push the Ethics Commission and Board of Supervisors to act. A measure capping or banning unlimited contributions to independent committees backing a single candidate goes to voters or passes as an ordinance before the next election cycle. The reform would change how every future supervisor race is funded, not just this one.

3

Ellington loses despite record fundraising

Deadline passed (Nov 3, 2026)

Discussed by: Opponents DJ Brookter and JR Eppler, who frame the race as a referendum on billionaire money

Brookter argues the district should 'answer to the neighborhood, not to the donors.' A low-turnout, working-class district could swing on resentment of outside money. If Eppler or Brookter wins, the result signals limits to billionaire influence in local races and keeps a progressive voice opposing Lurie's agenda on the board.

4

Board of Supervisors approves Ethics Commission rules

Possible Resolves by End of 2026

Discussed by: Mission Local reporting on the Ethics Commission's August vote

The Ethics Commission's 4-0 recommendation goes to the full Board of Supervisors, which must approve it for the rules to take effect. Approval would apply the $500 cap to candidate-controlled committees, closing the channel Larsen used to give Supervisor Matt Dorsey $25,000. It would not cap donations to independent PACs like the one backing Ellington.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

January 2010

Citizens United v. FEC (2010)

The Supreme Court ruled 5-4 that corporations and unions may spend unlimited money on independent political advertisements. The decision struck down the federal ban on corporate electioneering and opened the door to super PACs funded by unlimited individual donations.

Then

Super PACs appeared within weeks and reshaped the 2010 midterms as outside groups outspent party committees in key races.

Now

Independent expenditures became the dominant channel for political money; federal limits apply only to direct contributions, leaving the same loophole San Francisco still uses.

Why this matters now

The same legal structure allows Larsen's $500,000 check. Money routed through an independent committee faces no cap, so candidates stay formally independent while a billionaire funds their path to office.

June 2022

Chesa Boudin recall (2022)

San Francisco voters recalled progressive District Attorney Chesa Boudin after a well-funded campaign backed by moderates and tech-aligned donors. Outside spending dwarfed what a district attorney race typically saw, channeling public frustration over crime into Boudin's removal.

Then

Boudin was replaced by Brooke Jenkins, a former prosecutor who took a tougher approach on enforcement.

Now

The recall taught Bay Area billionaires and moderates that outside money could topple progressive city officials, normalizing heavy spending in San Francisco local races.

Why this matters now

It is the closest precedent for what Larsen is doing now: using independent spending to shift San Francisco's balance of power toward moderates.

November 2024

Daniel Lurie's self-funded mayoral win (2024)

Daniel Lurie, a Levi Strauss heir, spent millions of his personal fortune on his successful 2024 campaign for San Francisco mayor. His win installed a pro-business moderate at City Hall.

Then

Lurie took office promising to crack down on crime, speed housing, and restructure city government.

Now

His administration drew a new wave of tech-aligned appointees and donors into city politics, making races like District 10 an extension of a broader moderate realignment.

Why this matters now

Larsen is a leading Lurie backer; the Ellington donation continues the same project of building a durable moderate majority on the Board of Supervisors.

Sources

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San Francisco Standard SFist Mission Local Hoodline San Francisco Standard Mission Local Mission Local Mission Local San Francisco Standard SFist