San Francisco Real Estate Magnate Robbed At Gunpoint, Fears City ‘On Path Of Decline We May Never Recover From’

The chief executive of the world’s largest industrial landlord was robbed outside his San Francisco mansion last month and called on the mayor to address the “absolutely unacceptable” rise in violent crime in the city.

Hamid Moghadam, CEO of San Francisco-based Prologis, told the San Francisco Business Times that several men robbed him at gunpoint outside his home on June 26, taking his Patek Philippe watch. The robbery happened in the Pacific Heights neighborhood where tech investor Peter Thiel, Oracle’s Larry Ellison, and House Speaker Nancy Pelosi have homes.

“I recognize we live in an urban environment, but the level of crime, including violent behavior, has become absolutely unacceptable,” Moghadam wrote in a letter to San Francisco Mayor London Breed, the city’s Board of Supervisors, and Governor Gavin Newsom, demanding them to concentrate efforts on improving public safety. 

“We pay some of the highest taxes, local and state, in the nation, yet we have no sense of security. Protecting public safety should be the government’s top priority — that is the foundation to a successful city,” he said. 

Moghadam warned: “I am deeply concerned that our city may be so far down the path toward decline that we may never recover — or at least not for a long, long time.”- READ MORE