Ripple co-founder Chris Larsen has donated at least $22.5 million to U.S. federal candidates and super PACs in the current election cycle and plans to expand that spending, according to Bloomberg. The report said Larsen, whose personal fortune is estimated at about $13.3 billion, has focused on crypto policy, artificial intelligence, clean energy and taxes on the ultra-wealthy. He previously opposed Fairshake’s planned $30 million effort against Ohio Democratic Senate candidate Sherrod Brown, then personally gave Brown $4 million. At the same time, Ripple has contributed $48 million to Fairshake this cycle, bringing its cumulative donations to $93 million, while Larsen and Ripple CEO Brad Garlinghouse are reassessing future support. Outside crypto, Larsen has given more than $4.5 million to a super PAC pushing back against pro-AI groups and has said AI development should face strict safety guardrails. In clean energy, a PAC he backs has spent about $10 million, helping defeat several Republican primary candidates who opposed renewable energy. He has also spent at least $12 million opposing California’s proposed billionaire wealth tax.
Ripple co-founder Chris Larsen has donated at least $22.5 million to U.S. federal candidates and super PACs in the current election cycle and plans to increase his political spending, according to Bloomberg, as cited by BlockBeats on Oct. 9.
Bloomberg said Larsen, whose personal fortune is estimated at about $13.3 billion, has concentrated his political activity on cryptocurrency, artificial intelligence, clean energy and taxes on the ultra-wealthy.
Larsen split with Fairshake on Sherrod Brown
Larsen previously opposed a planned $30 million campaign by crypto industry political group Fairshake against Ohio Democratic Senate candidate Sherrod Brown. He later personally donated $4 million to Brown.
That position stands in contrast to Ripple’s own giving. Ripple has contributed $48 million to Fairshake in this cycle, bringing its cumulative donations to $93 million. Even so, Larsen and Ripple CEO Brad Garlinghouse are reassessing any future support.
AI, clean energy and wealth-tax fights also drew funding
On AI policy, Larsen has donated more than $4.5 million to a super PAC working against pro-AI groups. He has also said he supports strict safety guardrails for AI development.
On clean energy, a political action committee backed by Larsen has spent about $10 million and helped several Republican candidates who opposed renewable energy lose their primaries.
Larsen has also spent at least $12 million opposing California’s proposed billionaire wealth tax.
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