Prologis CEO Got Mugged at Gunpoint Outside His Home in San Francisco
Posted on 09/26/2022
Hamid Moghadam is the CEO of Prologis, Inc., a major real estate investment firm. Hamid Moghadam is a resident of the Pacific Heights neighborhood in San Francisco. On June 26, 2022, two armed robbers confronted him and flashed guns. The robbers stole his Patek Philippe watch outside his US$ 15 million Pacific Heights home. The current mayor of San Francisco is London Breed. Despite California’s more aggressive gun control laws, gun violence in the state continues to rise in certain areas.
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Hamid Moghadam wrote this letter to officials after he was mugged:
I am writing you today as, I am sure, only the latest San Francisco citizen and business owner to ask for your immediate attention and action around crime in our city.
Sunday evening, I was held up at gunpoint and robbed outside my home on ______ Street. I recognize we live in an urban environment, but the level of crime, including violent behavior, has become absolutely unacceptable. Obviously, the majority of voters feel this way, which is why they voted to recall our district attorney earlier this month.
I run one of the highest market cap companies in the city, which I founded here forty years ago. Over the years, I have invested in this city and recruited talent to move here to work in our global headquarters at Pier 1. Ten years ago, we acquired a larger company that was headquartered in Denver, but I insisted we keep our headquarters in San Francisco.
Today, I am not sure I would make the same decision. It is now difficult for me to tell potential candidates that they should move to San Francisco. 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 to a successful city. Only in a community where people feel that they and their families are safe will jobs and culture flourish. I am deeply concerned that our city may be so far down the path toward decline that we may never recover – or at least not for a long, long time.
I am an entrepreneur and a problem solver. I would like to help you. I don’t believe that money is the problem. Earlier this year, the Chronicle reported that the City has only spent about a quarter of the Prop. C funds it has available, yet we continue to have a substantive homeless problem, which is not the cause, of course, but contributes to the crime issue.
We need a change in how criminals see our city. Do they see a city where we look the other way when crime rates rise, and law-abiding citizens don’t feel safe in their own neighborhoods? Or do we want a city that is safe because we enforce the laws on the books and put public safety over political correctness?
I was frustrated by my long wait when I called into 911 to report the crime. I do want to call out Officers Gaetano Acerra and Kevin Lynch, who responded to my call and were exemplary in their handling of the situation. Their superiors should know that these two officers represented the Department and the City in the best way possible and gave me the help and information a victim of crime needs.
Never in my life have I ever had this kind of life-threatening experience. It is simply unacceptable for any resident of our city to experience something like this. We must make a change now.
Best,
Hamid
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