California Edition

‘Stupid, Job-Killing Ideas:’ How California Became a Battleground for Billionaires Fighting Unions

Chris Larsen, who made a $13 billion fortune, is now the face of a San Francisco billionaires’ revolt.

Chris Larsen, co-founder and executive chairman of Ripple Labs.Photographer: David Paul Morris/Bloomberg

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By Felipe Marques and Samantha Stewart

April 23, 2026 at 10:57 PM UTC

Welcome to Bloomberg’s California Edition—covering all the events shaping one of the world’s biggest economies and its global influence. This week, San Francisco Bureau Chief Felipe Marques takes us inside a new civic gold rush fueled by billionaires. Sign up here if you’re not already on the list.

Chris Larsen is not your average tech bro.