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California Gov. Gavin Newsom speaks during a press conference on Feb. 1, 2023, in Sacramento. A Tuesday report revealed that Newsom has several ties Silicon Valley Bank, which failed last week amid a bank run.
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.
