Saikat Chakrabarti wasted record $8M on bid to succeed Pelosi
Lefty tech millionaire Saikat Chakrabarti made a bold move by spending nearly $10 million of his own money to run for Congress in San Francisco, aiming to fill Nancy Pelosi’s shoes. However, his campaign turned out to be a major flop as he failed to secure a spot in the general election, winning just one precinct.
Not only did Chakrabarti’s campaign suffer in terms of results, but it also took a hit financially. An analysis by Mission Local revealed that he spent about $211.3 per vote, totaling $8.85 million for 42,049 votes. In comparison, his opponents State Sen. Scott Wiener and City Supervisor Connie Chan spent significantly less on their campaigns.
Wiener emerged as the frontrunner with $5.86 million from his campaign and outside groups, while Chan was backed by only $1.75 million. Chakrabarti’s excessive spending per vote set a city record for the most money spent per vote, highlighting the inefficiency of his campaign strategy.
Despite his loss, Chakrabarti blamed external factors such as “AI, crypto, and AIPAC money” for his defeat in his concession statement. However, the reality was that Pelosi’s endorsement of Chan and Chakrabarti’s lack of deep roots in the city played a significant role in his unsuccessful bid.
Following his defeat, Chakrabarti continued to support Chan by endorsing her and offering campaign employees to work on her behalf. Despite his progressive platform and association with controversial figures like Hasan Piker, Chakrabarti’s campaign ultimately fell short of expectations.
His tenure as Alexandria Ocasio-Cortez’s chief of staff added to his political profile, but his strained relationship with Democratic leadership, including Pelosi, hindered his chances in the election. With Wiener securing almost 41% of the vote share and Chan garnering 30%, Chakrabarti finished with only 18% of the votes in the primary.
