Billionaires Bankroll San Francisco Comeback One Party at a Time

Crime surveillance, food assistance, an 83-foot Christmas tree – they’re all being paid for by an increasingly influential coalition of San Francisco billionaires.

In the latest blurring of the lines between city services and private philanthropy, crypto billionaire Chris Larsen is chipping in for a monthly downtown block party featuring prominent DJs and a giant disco ball. The goal is to entice costume-clad revelers to help revive the city’s struggling financial district and counteract images of a blighted San Francisco.

“It’s about righting the ship,” Larsen said.

People in San Francisco during Downtown First Thursdays, a monthly block party featuring DJs and art installations.

Photographer: Sammy Braxton-Haney

The growing municipal role of the ultra-rich represents a broader shift in ...