Key facts
- Larsen gave at least $22.5 million to federal candidates and super PACs this election cycle, the report said.
- Larsen donated $6 million earlier this year to Tomorrow Coalition PAC, a pro-renewable-energy super PAC, per campaign records.
- Larsen gave more than $4 million to a super PAC supporting New York Assemblymember Alex Bores, per FEC records.
- Bores narrowly lost his race after heavy spending by OpenAI President Greg Brockman and Andreessen Horowitz.
Chris Larsen, chairman and co-founder of Ripple Labs, has given at least $22.5 million to federal candidates and super PACs this election cycle, according to the report. That makes him one of the cycle's biggest individual tech donors and an unusual left-leaning giver among technology executives.
Larsen told podcaster Kara Swisher that Citizens United, the ruling that allowed expanded corporate election spending, was a "huge mistake," while arguing he needs to spend to counter donations from oil companies and other opponents. "If you want to get involved in policy, you have to play that game," he said. He declined to be interviewed for the report.
Larsen co-founded OpenCoin in 2012, the company that became Ripple, which uses blockchain technology for cross-border payments. He stepped down as CEO in 2016 and remains executive chairman. Forbes estimates his net worth at $8.4 billion, and Ripple was valued at around $50 billion in a recent stock buyback.
In 2024, Larsen said on X that he was donating $10 million in XRP to support Kamala Harris for president. He gave $6 million earlier this year to Tomorrow Coalition PAC, a pro-renewable-energy super PAC, according to campaign records.
On AI, Larsen told Swisher he has "indirect" stakes in OpenAI and Anthropic and said AI companies were trying to intimidate politicians who proposed restrictions. He gave more than $4 million to a super PAC supporting New York Assemblymember Alex Bores, a former Palantir engineer who co-authored AI safety legislation, according to Federal Election Commission records. Bores narrowly lost his race after heavy spending by OpenAI President Greg Brockman and Andreessen Horowitz to defeat him.