San Francisco real estate mogul mugged at gunpoint says residents have ‘no sense of security’
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A prominent San Francisco real estate mogul who was robbed for his watch outside his $15 million Pacific Heights home says rampant crime rates have reached a tipping point and says the city “may never recover” because its residents “have no have a sense of security’. ‘
Hamid Moghadam, the CEO of Prologis, which was founded and is based in the Bay City, said two armed robbers confronted him on June 26, flashed firearms at him and took his Patek Philippe watch.
Moghadam, who shares the neighborhood with some of the world’s richest and most powerful people, such as Oracle CEO Larry Ellison, angel investor Peter Thiel and House Speaker Nancy Pelosi, according to Bloomberg News, said the experience left him shocked.
Hamid Moghadam, the billion-dollar real estate CEO who heads Prologis, was robbed in June. He says the city’s crime rates threaten to destroy its reputation and drive companies away
Homeless people line sidewalks in San Francisco’s Tenderloin district, where crime has risen in the past year
He decided to cast his vote and give interviews for Bloomberg, Fox News and CBS News, among others. Moghadam also wrote a letter to elected officials in California, warning that the city’s quality of life had declined to the point that it was in danger of losing its tax base.
“I get all kinds of San Francisco jokes when I travel the world. It’s almost embarrassing and that’s the perception and that affects the tourism and conference business,” Moghadam said. CBS News. “There are a lot of jobs involved. Once you get over the tipping point, it’s going to be very, very hard to get it back.”
He told the news station that it is more than just business and jobs, he is concerned about the well-being of his employees.
“It is now difficult for me to tell potential candidates to move to San Francisco,” he wrote in his letter. Fox News reported. “We pay some of the highest taxes, local and state, in the nation, but we have no sense of security.
“Protecting public safety must be the government’s top priority, it is the foundation of a successful city. Only in a community where people feel that they and their families are safe will jobs and culture flourish.’
A shocking poll revealed that nearly half of San Franciscans have been robbed in the past five years as the city continues to try to clean up its deeds under Mayor London Breed (pictured)
A mob of homeless drug addicts is seen on a San Francisco street amid trash and filthy conditions as city officials call for ‘blue sky’ ideas to solve the problem of the open-air drug market
The August crime statistics show that while the homicide rate has fallen by nearly 3 percent, other violent crimes are up from last year. Rape has increased by 8.3 percent, theft by a staggering 18.5%, assaults by nearly 10 percent and robberies, such as Moghadam’s, have increased by 3.4 percent.
“I recognize that we live in an urban environment, but the level of crime, including violent behavior, has become absolutely unacceptable,” he wrote in his letter.
Moghadam, who co-founded the San Francisco company in 1983, said the robbers targeted him for his watch in his own case.
He said they followed him from his billion-dollar real estate business in the Embarcadero to his home in Pacific Heights, where the median annual income is $125,550 a year.
“This is a gang that does this all the time and they attacked me from the parking lot,” he told KPIX 5.
He said that when he arrived at his house, the thieves confronted him.
“A car ran by, stopped right next to me and two guys jumped out with guns pointed at my face,” he told the station. “It just happened so fast, honestly, I didn’t have time to get scared.”
A homeless drug addict sits unconscious next to his milk, cornflakes and candy on the street near City Hall
A homeless man injects fentanyl into his armpit, due to a lack of usable veins, as people pass by in the city’s Tenderloin District
A homeless man injects fentanyl into his friend’s armpit, due to a lack of usable veins, as people pass near San Francisco City Hall in early September
A homeless woman named Rockey smokes fentanyl in front of her tent in the Tenderloin District of San Francisco, California
Kim, a homeless trans drug addict, sits on the street in San Francisco’s Castro district
He decided that “enough is enough” and wrote to Mayor London Breed and California Governor Gavin Newsom, a former mayor, telling them what had happened.
He told politicians that San Francisco “might be so far down the path to decline that we may never recover — or at least not for a long, long time.”
He said he immediately heard from the governor and the mayor.
Breed told Fox News that she is “focused on making San Francisco a place where people want to live, do business and work.”
She noted that she has budgeted for 200 new police officers and pushed for legislation to crack down on the stolen goods market.
Moghadam’s concerns are no secret to city dwellers.
A shocking California public radio station KQED found that nearly half of San Franciscans have been robbed in the past five years.
A poll of 1,653 people in the City by the Bay near the station found that 43 percent of white people had been victims of theft, 54 percent of black San Franciscans and 55 percent of mixed-race San Franciscans surveyed said they were victims of theft. had been robbed in recent years, according to the SF Chronicle.
According to city data, crime is up 8.5 percent in San Francisco through Sept. 11 compared to 2021. Though that’s less than in cities like New York (35 percent increase) and Chicago (37 percent increase) , murder is the only crime to see a decline from last year in the northern California city.
Of those surveyed, 65 percent said the city was declining, while 37 percent said they would be living elsewhere in three years. A whopping 84 percent of over-65s said they plan to leave.
It is a thought that also occurred to Moghadam.
“Ten years ago, we acquired a larger company headquartered in Denver, but I insisted that we keep our headquarters in San Francisco,” Moghadam said in his letter. “Today I’m not sure I would make the same decision.”
Frustration over San Francisco’s decline has grown in recent months, with the impeachment of district attorney Chesa Boudin and, in February, the recall of three city school board members accused of giving progressive political priority to the needs of children during the pandemic.