Financial disclosures filed last month show that Daniel Lurie and Mark Farrell are the wealthiest candidates in the mayor’s race, with an array of investments each worth anywhere from $2,000 to more than $1 million, adding up to at least $10.2 million for Farrell and $6.8 million for Lurie.
Aaron Peskin, president of the Board of Supervisors and president of an environmental nonprofit, is the only candidate who reported real estate investments: three properties on Telegraph Hill.
The financial disclosures do not show a complete picture of the candidates’ worth. They only show investments or properties “where conflicts of interest might occur.” Candidates do not need to report their bank-account balances or inheritances. If the latter were included, Lurie (heir to the Levi Strauss fortune) would likely top the list. The values of their assets are also reported within wide ranges, giving only a rough estimate of each candidate’s holdings.
Mayor London Breed and District 11 Supervisor Ahsha Safaí reported much more modest financial interests. Breed listed multiple gifts, totaling $16,500, that she received for a trip last May to Israel, for example, while Safaí reported a total of $521 for tickets to a holiday party last December.
Four of the five leading candidates are homeowners, while Breed rents an apartment in the Lower Haight.
Real properties and investments reported by mayoral candidates
not reported
Aaron
Peskin
Ahsha
Safaí
Daniel
Lurie
London
Breed
Mark
Farrell
Real
property
$2.13
million+
Invest-
ment
$0.31
million+
$6.8
million+
$10.2
million+
not reported
Aaron
Peskin
Ahsha
Safaí
Daniel
Lurie
London
Breed
Mark
Farrell
Real
property
$2.13 million+
Investment
$0.31 million+
$6.8 million+
$10.2 million+
Note: Candidates report their financial interests in a wide range. The graphics only show the lower end of the range. Source: San Francisco Department of Elections. Chart by Junyao Yang. Illustrations by Neil Ballard.
Moroever, candidates don’t have to report their personal residence, or properties owned by them and used by a family member. They do need to report commercial real estate or vacation rentals — anything that could violate the conflict-of-interest code.
Peskin, the only candidate who reported any real property holdings, listed three properties in his district, in Telegraph Hill, that are worth at least $2.1 million each, or more than $3 million on the higher end. According to property value estimates from Zillow and Redfin, these properties are worth about $4.47 million in total. Peskin also received between $30,000 and $300,000 in rental income from these properties.
As for investments, Farrell, the venture capitalist and self-proclaimed “small-business owner,” and Lurie, the Tipping Point founder and Levi Strauss heir, reported the highest market values of their stock and other holdings.
Most of Farrell’s financial investments are tied to his venture capital firm, Thayer Ventures, adding up to a market value of more than $10.2 million, according to Farrell’s filings.
Farrell held stocks in 2023 worth $100,001 to $1 million in Inspirato Inc., a recreational service company in which his venture capital firm invested. It’s likely those values are at the lower end this year, as Inspirato’s stock has fallen from 2022 highs of more than $11 a share to $3.67 a share.
Lurie, similarly, reported about a dozen investments under his name where he has less than a 10 percent ownership. Those include stocks in the crypto company Ripple — led by Chris Larsen, a billionaire active in bankrolling San Francisco political causes — and a partnership in a healthcare fund.
Most of Lurie’s investments, however, are tied to funds like the Daniel Lurie Trust and Wilmot Ventures, in which he has a stake of more than 10 percent. Some of those investments are each worth more than $1 million, including the Levi stock, Miriam and Peter Haas Investments (which is associated with Lurie’s mother and stepfather), and the San Francisco 49ers’ investment firm.
All of Lurie’s reported investments add up to at least $6.8 million and, on the higher end, more than $31 million.
Peskin followed Lurie and Farrell in investments, with smaller holdings in stocks in companies like Apple, Alphabet and Boeing, worth between $314,000 and $3 million.
Salaries disclosed by mayoral candidates
not reported
Aaron
Peskin
Ahsha
Safaí
Daniel
Lurie
London
Breed
Mark
Farrell
Salary
$269K+
$159K
$364K
$100K+
0
not reported
Aaron
Peskin
Ahsha
Safaí
Daniel
Lurie
London
Breed
Mark
Farrell
Salary
$269K+
$159K
$364K
$100K+
0
Note: Peskin, Safaí and Breed do not need to report their government pay, but the salary in this chart included that. For example, Peskin’s salary included his pay as district supervisor, president of Great Basin Land & Water and half of his spouse’s salary. Candidates report their financial interests in a wide range. The graphics only show the lower end of the range. Source: San Francisco Department of Elections. Chart by Junyao Yang. Illustrations by Neil Ballard.
While candidates don’t report their government pay, public records show that Breed earns about $364,000 for her job as mayor, and the two supervisors, Peskin and Safaí, earn about $159,000 each.
Peskin also reported income between $10,001 to $100,000 as president of his environmental nonprofit, Great Basin Land & Water, together with more than $100,000 from his wife’s salary at the same organization.
Farrell received an income of more than $100,000 as the managing director of Thayer Ventures Management Services in 2023.
Lurie, founder and now board member of the homelessness nonprofit Tipping Point, did not report any income from the organization or elsewhere.
Gifts and travel payments disclosed by mayoral candidates
not reported
Aaron
Peskin
Ahsha
Safaí
Daniel
Lurie
London
Breed
Mark
Farrell
Gift and
travel
$1.4K
$0.5K
$24.1K
not reported
Aaron
Peskin
Ahsha
Safaí
Daniel
Lurie
London
Breed
Mark
Farrell
Gift and
travel
$1.4K
$0.5K
$24.1K
Note: Candidates report their financial interests in a wide range. The graphics only show the lower end of the range. Source: San Francisco Department of Elections. Chart by Junyao Yang. Illustrations by Neil Ballard.
Breed, Peskin and Safaí, the elected officials in the race, reported numerous gifts they received last year.
Breed disclosed 33 travel payments of $500, totaling $16,500, that funded her trip to Israel last May, “to promote cultural and economic ties between San Francisco and Israel.” She also reported a $6,600 travel payment for her to participate in the Bloomberg CityLab urban policy conference in D.C. and two $500 gifts for galas during APEC.
Peskin reported tickets, gift baskets and dinners worth a total of $1,434. These included performances at Club Fugazi in North Beach and tickets to dinner with the South End Rowing Club.
Safaí, the District 11 supervisor, only reported gifts of tickets to a holiday party for the San Francisco Consular Corps last December, worth $521 in total.
The three candidates who already hold elected office — Breed, Safaí and Peskin — filed their disclosures in April; Lurie and Farrell were only required to file financial-interest documents with their nomination papers by June 11.
Explore the candidates’ full financial disclosures in the table below. You can also see the disclosures by clicking on the candidates’ names here.
Correction: Due to an editing error, an earlier version of the story stated Aaron Peskin’s properties are worth at least $2.1 million “each.” His properties are worth at least $2.1 million in total, according to his filings.
Mark Farrell is corrupt.