By Gabe Greschler, Han Li, Joe Fitzgerald Rodriguez & Annie Gaus

Mayor Daniel Lurie’s latest financial disclosure reveals how the uber-wealthy Levi’s heir hopes to avoid conflicts between his city job and his vast investment portfolio. According to the 37-page document, Lurie created a blind trust that establishes a firewall between any insider knowledge gained on the job and his financial holdings. (Lurie promised on the campaign trail to create the trust if elected.)

The setup establishes an independent trustee in charge of Lurie’s portfolio who will not communicate with the mayor about the investments, explained Burlingame-based attorney Doug Luftman. Lurie’s trust is managed by Danielle DeLancey of Wilmot Ventures and Parker Phillips of Argonaut Securities, according to the mayor’s office.

Within the new trust are tens of millions of dollars worth of stocks from various sources, including Lurie’s shares in Levi’s Strauss; a limited partnership connected to his mother and late stepfather, called Miriam and Peter Haas Investments; the women’s soccer team Bay FC; and the San Francisco 49ers, among many other assets. The disclosures require city workers to mark down a range rather than a precise figure for investment amounts.

Sean McMorris, a government ethics expert, told Power Play that blind trusts are “one of the better things” a wealthy politician can do to dispel the perception of conflicts of interest — but they are not foolproof. “He’s not going to forget what his assets are,” said McMorris. “He’s relinquishing control of them to a degree. But he is not forgetting what is there.”

Lurie isn’t the only top official with considerable personal assets. Chief of Staff Staci Slaughter, a former Giants executive, owns stakes in Lockheed Martin, Walmart, Berkshire Hathaway, and a multitude of other firms. (She also reported a neat retirement gift from her former baseball team: a $7,500 watch.) Policy chief Ned Segal, who’s in charge of housing and economic development, has sprawling investments in venture funds, tech firms, and other enterprises that range from crypto company Ripple to Che Fico Pizzeria.

Slaughter, Segal, and Lurie all have ties to Bay FC, which has offices and a training facility in San Francisco: Lurie holds a stake worth over $1 million in the club; Segal invested in its venture fund; and Slaughter reported income both from Bay FC and Sixth Street Partners, its majority owner.

Got tips? Send us an email at powerplay@sfstandard.com or text/call (415) 408-7504.

In the pipeline

A person in a suit speaks at a podium with a crowd behind them holding pink and blue signs reading "Trans Rights Are Human Rights."

WAITING IN THE WINGS: After Saikat Chakrabarti, a former aide to Rep. Alexandria Ocasio-Cortez, launched a challenge to Speaker Emerita Nancy Pelosi, another ambitious politician says he’s staying in his lane, for now.

State Sen. Scott Wiener told Power Play on Friday, "I support Nancy" and said he is proud to have her in Congress fighting President Donald Trump. Wiener said his plate is “super full” with state Senate work, but he will see if "there's an opportunity" in the future, referring to Pelosi’s retirement. Wiener started an exploratory committee in 2023 that raised almost a million dollars, but that effort appears to be on pause.

While biding his time, Wiener is forging his own path as a Trump antagonist, leading a virtual town hall Wednesday that drew hundreds of viewers. At that meeting, a flood of constituent questions focused on Trump’s impacts on everything from the federal workforce to Gen Z men — and, notably, whether California could secede from the United States. (Answer: When pigs fly.)

GREAT HIGHWAY LATEST: The latest drama surrounding the Great Highway centers on an unexpected issue: food and drink. A group of Sunset merchants prepared a strongly worded letter to Lurie — bypassing their district Supervisor, Joel Engardio, who’s facing a potential recall — urging the city to ban businesses from operating on the Great Highway, which is set to fully close in a few months.

The effort is led by merchants from the Ocean Beach area, who expressed “firm and unified opposition to any commerce, vendor activity, or marketplace on the Great Highway" and are asking the city to write a ban into law. Other Sunset groups, including People of Parkside Sunset, chaired by Albert Chow, and the Chinese American merchant group, confirmed that they support the letter.

Ahead of a planned park opening, the merchants are concerned that allowing vendors on the Great Highway will hurt local brick-and-mortar businesses. Friends of Ocean Beach Park President Lucas Lux, who’s organizing the park opening, confirmed that the group has been asking businesses to participate in the opening event. Lux said while some businesses agreed to participate, "some expressed concerns."

Lurie has been largely silent on the Great Highway since taking office, though sources say he has met with the merchants. The mayor's office declined to comment.

INAUGURAL PIGGY BANK: You may have seen the $2.9 million inauguration fund that made Lurie’s first day in office possible, replete with napkins and mugs emblazoned with the mayor’s name. That’s nearly four times the size of former mayor London Breed’s $700,000 inaugural fund, though it’s a bit apples to oranges, as Lurie’s also funded transition research.

The fund included six-figure donations from the San Francisco 49ers, members of the Gap Inc. Fisher clan, and tech company Chime. Some smaller donations also caught our eye, including $25,000 from UA Local 38, the plumbers union, which endorsed Mark Farrell. Political donations have long been a way for groups to get back into the good graces of electeds, and a few others might fit that bill: The San Francisco Deputy Sheriff’s Association, which endorsed Farrell in first place and Lurie third, gave $30,000. Theater and motion picture union IATSE Local 16 endorsed Breed and gave $2,500 to the inaugural fund. Homelessness oversight commissioner Sharky Laguana, a Breed supporter, gave $1,000.

Other interesting tidbits: Golden State Warriors coach Steve Kerr, who spoke at Lurie’s inauguration, donated $1,000, while consultant Stefanie Roumeliotes, who worked for Breed’s first campaign, kicked in $5,000.

A survey Lurie’s team conducted between Dec. 15 and Jan. 15 shows that the new mayor has his work cut out for him. The poll revealed 45% satisfaction with city government, with respondents expressing greater fondness for their utility company and car insurance (50% satisfaction). Ouch.

Upcoming Event

Great Highway’s future with Supervisor Joel Engardio

San Francisco voters approved Proposition K, the ballot measure that closed the Great Highway to cars to create a park, but the election inflamed tensions between neighbors who were both for and against it. Supervisor Joel Engardio represents the Sunset, where the Great Highway resides, and joins The Standard’s political reporters Han Li and Joe Fitzgerald Rodriguez on Friday, February 14 at 12 p.m. to talk about the park’s future and how the neighborhood may heal after the contentious election.