• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind

2

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

3

An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948

1

College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind

2

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

3

An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
Marc Benioff

Salesforce CEO Marc Benioff Lashes Out at San Francisco Billionaires ‘Hoarding’ Their Money

By
Renae Reints
Renae Reints
Down Arrow Button Icon
By
Renae Reints
Renae Reints
Down Arrow Button Icon
October 17, 2018, 2:27 PM ET
Add Fortune on Google for similar content.

Marc Benioff, CEO and founder of Salesforce, continued his outspoken campaign in favor of aiding the homeless Tuesday, telling the Guardian that the billionaires of the San Francisco Bay Area are “hoarding” their money.

Benioff is a strong supporter of Proposition C, a question on San Francisco’s ballot that will put additional taxes on businesses with revenue above $50 million to fund efforts to reduce homelessness. If passed, the proposition is expected to bring in up to $300 million to support affordable housing, shelters, and mental health treatment, doubling current investments.

Even though it could cost Salesforce up to $10 million in taxes annually, Benioff has already pledged $2 million of his and Salesforce’s funds to support the measure. He argues that the annual cost of Proposition C is still less than what Salesforce is saving from recent tax cuts.

Jack Dorsey, CEO of both Twitter and Square, has voiced support for San Francisco Mayor London Breed, who opposes the measure. Benioff got into a Twitter spat with Dorsey last week, demanding to know how Dorsey is helping the homeless if he doesn’t support the tax increase. Dorsey argued that while he supports efforts to help the homeless, he doesn’t believe Proposition C is the “best way to do it.”

Speaking to the Guardian Tuesday, Benioff again criticized the tech executive.

“He just doesn’t want to give, that’s all. And he hasn’t given anything of consequence in the city,” said Benioff, adding that he wasn’t surprised by Dorsey’s position. “We have 70 billionaires in San Francisco [Bay Area region]. Not all of them are giving money away. A lot of them are just hoarding it. They’re keeping it. That’s just who they are and how they look at their money.”

“This is a critical moment where I think Prop C kind of illuminates who is willing to be a San Franciscan and actually support our local services,” he continued.

Benioff also attacked the payment platform Stripe, another San Francisco-based tech company opposed to Proposition C because it lacks a “comprehensive plan.” According to the Guardian, Stripe has given more than $400,000 to a campaign fighting the proposition.

“It’s the most money they’ve ever given to anything in San Francisco, so that’s exciting,” Benioff told the Guardian. “[Prop C] will be a direct tax on Stripe that they don’t want to have to pay. Even though they’ve made $20 billion dollars in San Francisco, they’re not willing to give back at scale. Isn’t that amazing?”

At the WIRED25 summit in San Francisco Monday, Benioff gave some insight into why he feels the homelessness issue is so important.

“San Francisco is amazing,” he said at the event, according to CNBC. “We have these incredible companies and entrepreneurs, innovation and technology, but we cannot separate ourselves from others. We have to get back to the feeling that we are one, and we are responsible for the city that we are living in and growing our businesses in.”

About the Author
By Renae Reints
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

Amy Astley revived Architectural Digest. Now she’s betting on lived-in homes over ‘tech-bro bunkers’
NewslettersMPW Daily
Amy Astley revived Architectural Digest. Now she’s betting on lived-in homes over ‘tech-bro bunkers’
By Emma HinchliffeJuly 27, 2026
53 minutes ago
guano
Energyfertilizer
The Strait of Hormuz isn’t fertilizer’s first starring role — and 1856 law still defines U.S. overseas territory
By Edward D. Melillo and The ConversationJuly 27, 2026
1 hour ago
t
North AmericaWhite House
The new Air Force One controversy is really about a 90-year power struggle over presidential travel
By Peter Kastor and The ConversationJuly 27, 2026
1 hour ago
The war between competing AI models could end up more like Apple vs. Android than VHS vs. Betamax
AITech
The war between competing AI models could end up more like Apple vs. Android than VHS vs. Betamax
By Jason MaJuly 27, 2026
2 hours ago
tobi
C-SuiteTaxes
Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?
By Nick LichtenbergJuly 27, 2026
2 hours ago
Workers help a traveler at a Trip.com tabling session booth.
Big TechChina
Trip.com struck with $765 million penalty from China over monopoly allegations
By The Associated PressJuly 27, 2026
2 hours ago

Most Popular

College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind
Economy
College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind
By Mia OsmonbekovJuly 26, 2026
1 day ago
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
2 days ago
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
Success
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
By Orianna Rosa RoyleJuly 25, 2026
2 days ago
I've been teaching college students for decades. Most of them can no longer finish a book
Commentary
I've been teaching college students for decades. Most of them can no longer finish a book
By Austin SaratJuly 26, 2026
1 day ago
New York City women are making up to $30,000 per month by renting out their closets to strangers
Retail
New York City women are making up to $30,000 per month by renting out their closets to strangers
By Sarah GlodekJuly 27, 2026
11 hours ago
A Hims cofounder fired his marketing agency for an AI-powered team. Now his 24/7 online vet service is growing 20% a month
Success
A Hims cofounder fired his marketing agency for an AI-powered team. Now his 24/7 online vet service is growing 20% a month
By Sydney LakeJuly 25, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.