Billionaire Fights San Francisco’s ‘Stupid’ Tax on High CEO Pay

Chris Larsen didn’t start out rich. He was born in San Francisco, the son of an aircraft mechanic and a freelance illustrator. After starting a string of successful companies and amassing a $13 billion fortune, he’s become the face of a billionaires’ revolt.

In June, voters in San Francisco will decide whether to impose an eight-fold increase to a gross-receipts tax on any large company doing business in the city where the highest paid executive earns 100 times or more than their median employee. Fighting the union-backed proposal, along with a separate push for a California wealth tax, has thrust Larsen into a ...