Indian-American tech entrepreneur Saikat Chakrabarti has launched a major campaign for the San Francisco congressional seat once held by former House Speaker Nancy Pelosi. But the 40-year-old millionaire says his campaign is about much more than winning one election. He told The Wall Street Journal that he wants to reshape the Democratic Party from within.
Saikat Chakrabarti, who helped build Stripe in its early days, has presented himself as a leader fighting against the Democratic Party’s leadership. In an interview with The Wall Street Journal, he said, “I’m running to change the system. The party is ready for a full-scale revolution.”
His campaign has become one of the most closely watched political contests in California. Chakrabarti criticized senior Democratic leaders and pushed policies that placed him firmly on the progressive wing of the party. He criticized Hakeem Jeffries and called him a “bad leader,” reported The Wall Street Journal.
The candidate also backs several progressive proposals. He wants the United States to immediately stop military aid to Israel. He supports a wealth tax aimed at high-income Americans and calls for taxpayer-funded universal healthcare.
Chakrabarti’s message has gained support among activists and younger progressive voters. At a recent “Change the Party” rally in San Francisco’s SoMa district, thousands gathered to hear speeches from prominent left-wing figures.
Former congressman Jamaal Bowman criticised wealthy elites and large technology companies during the event, reported The Wall Street Journal. Popular streamer Hasan Piker said, “The revolution is here.”
Saikat Chakrabarti’s political rivals
Despite the attention around his campaign, Chakrabarti faces a difficult path to victory. He first needs to survive a crowded June primary election. Under California’s election system, the top two candidates move on to the general election regardless of party affiliation.
One of his main rivals is Scott Wiener, a state senator known for his pro-housing agenda and long legislative record, reported The Wall Street Journal. Many political observers consider Wiener the front-runner in the race.
Another major candidate is Connie Chan, who previously worked for Kamala Harris. Chan has strong support among labour unions and Chinese-speaking voters in San Francisco.
Chakrabarti has instead focused much of his campaign on younger professionals and high-earning voters frustrated by San Francisco’s expensive housing market. He says that the city’s political system no longer works for many residents who struggle with rising living costs, reported The Wall Street Journal.
The candidate also carries a long history in progressive politics. According to The Wall Street Journal, he co-founded the activist organisation Justice Democrats and previously served as chief of staff to congresswoman Alexandria Ocasio-Cortez.
Can Chakrabarti’s outsider campaign succeed?
Financial records from 2025 show that Chakrabarti holds at least $167 million in assets, reported The Wall Street Journal. He has already spent around $5 million of his own money on the campaign, a move that triggered criticism from opponents who accuse him of trying to buy political influence.
At the same time, Chakrabarti faces another problem. Despite his national profile among progressives, no current state or federal lawmaker has publicly endorsed his campaign so far.
Political analysts say the timing of his campaign may also create challenges. Democratic voters across the country have shifted further left in recent years, but San Francisco politics have recently moved in a more moderate direction.
“It may not be the best time to be an insurgent taking on the party in San Francisco,” Jason McDaniel told The Wall Street Journal.