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

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