Monday 26 September 2022 03:44 PM San Francisco real estate mogul mugged at gunpoint says residents have 'no ... trends now

Monday 26 September 2022 03:44 PM San Francisco real estate mogul mugged at gunpoint says residents have 'no ... trends now
Monday 26 September 2022 03:44 PM San Francisco real estate mogul  mugged at gunpoint says residents have 'no ... trends now

Monday 26 September 2022 03:44 PM San Francisco real estate mogul mugged at gunpoint says residents have 'no ... trends now

A prominent San Francisco real estate mogul who was mugged for his watch outside his $15 million Pacific Heights home says that the rampant crime rate has reached a tipping point, saying the city 'may never recover' because its residents have 'no sense of security.'

Hamid Moghadam, the CEO of Prologis, which was founded and is based in the Bay City, said that two armed robbers confronted him on June 26, flashed guns at him and took his Patek Philippe watch.

Moghadam, who shares the neighborhood with some of the world's most rich and powerful people, like Oracle CEO Larry Ellison, angel investor Peter Thiel and House Speaker Nancy Pelosi, according to Bloomberg News, said the experience left him shaken.

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Billion-dollar real estate CEO, Hamid Moghadam, who heads Prologis, was mugged in June. He says that the city's crime rate threaten to destroy its reputation and drive away businesses

Billion-dollar real estate CEO, Hamid Moghadam, who heads Prologis, was mugged in June. He says that the city's crime rate threaten to destroy its reputation and drive away businesses

Homeless people line the sidewalks in the Tenderloin district of San Francisco where crime has spiked over the last year

Homeless people line the sidewalks in the Tenderloin district of San Francisco where crime has spiked over the last year

He decided to speak up, doing interviews for Bloomberg, Fox News and CBS News, among others. Moghadam also penned a letter to California elected officials sounding the warning that the city's quality of life had slipped so far that it was in peril 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 tourism and convention business,' Moghadam told CBS News. 'A lot of jobs are involved. Once you go over the tipping point, it becomes very, very difficult to getting it back.'

He told the news station that it's more than just business and jobs, he's worried about the well-being of his employees.

'It is now difficult for me to tell potential candidates that they should 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, yet we have no sense of security.

'Protecting public safety should be the government's top priority — that 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 nearly half of San Franciscans have been robbed in the past five years, as the city continues to attempt to clean up its act under Mayor London Breed (pictured)

A shocking poll revealed nearly half of San Franciscans have been robbed in the past five years, as the city continues to attempt to clean up its act under Mayor London Breed (pictured)

A mob of homeless drug addicts are seen brawling on a San Francisco street amid trash and squalid conditions as city officials call for blue sky 'ideas' to fix its open air drug market problem

The wild scene was captured on video by a man identified as J. Terrell, who was on an evening walk in San Francisco's SoMa neighborhood

A mob of homeless drug addicts are seen brawling on a San Francisco street amid trash and squalid conditions as city officials call for blue sky 'ideas' to fix its open air drug market problem

The August crime statistics show that although murders are down nearly 3 percent, other violent crime has jump from last year. Rape is up 8.3 percent, larceny climbed a whopping 18.5 percent, assaults spiked nearly 10 percent and muggings, like the one Moghadam suffered are up 3.4 percent.

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