Report: Newsom has deeper ties to Silicon Valley Bank than he let on

Source: SFGate

“Three wineries owned by California Gov. Gavin Newsom are clients of Silicon Valley Bank, and the governor has maintained personal accounts at the institution ‘for years,’ according to a Tuesday report from The Intercept. The news that Newsom has had personal accounts at the bank was revealed by a former staffer who spoke to The Intercept on the condition of anonymity. The three Newsom-owned wineries, CADE, Odette and Plumpjack, are listed as clients on the banks website. The report also said that a Silicon Valley Bank executive made a $100,000 donation to the California Partners Project — a charity founded by Newsom’s wife, Jennifer Siebel Newsom — at the behest of the governor, and that a bank executive sits on the charity’s board of directors. Silicon Valley Bank is the Santa Clara bank that failed last week amid a bank run, when several clients withdraw their money in a panic.” (03/14/23)