Key facts
- Larsen's giving exceeded $60 million since the start of last year, per a POLITICO analysis of campaign finance records.
- The total was more than three times his 2024 cycle spending and 24 times his 2022 amount, POLITICO reported.
- Larsen widened his political focus from fighting crypto-industry critics to backing climate advocates and opposing public-sector unions.
- Larsen is executive chairman and co-founder of Ripple, the crypto payments company, according to Business Insider.
Chris Larsen, co-founder and executive chairman of crypto payments company Ripple, has given more than $60 million to political candidates and causes since the beginning of last year, according to a POLITICO analysis of campaign finance records. POLITICO reported that the figure is more than three times what he spent in the 2024 cycle and 24 times his 2022 amount.
POLITICO reported that Larsen has widened his political spending from fighting crypto-industry critics to backing climate advocates and opposing public-sector unions, and that the shift has drawn Republican opposition while puzzling Democrats. The report said megadonors including Elon Musk and Richard Uihlein gave Republicans a large fundraising advantage over Democrats this year, and that Democrats may need to court donors such as Larsen to stay competitive.
Business Insider reported that Larsen has given at least $22.5 million to federal candidates and super PACs this election cycle, making him one of the cycle's biggest individual tech donors. It reported that Forbes estimates his net worth at $8.4 billion and that Ripple was valued at around $50 billion in a recent stock buyback. Larsen told podcaster Kara Swisher that the Citizens United ruling was a "huge mistake" and that "there's way too much money in politics," while arguing he needs to spend to counter donations by oil companies and other opposition, Business Insider reported. Larsen declined to be interviewed for that story, it said.