Key Takeaways
- • Kat Taylor, billionaire wife of former California Governor candidate Tom Steyer and ex-investor in failed Bitwise Industries, contributed $20,000 to Fresno County's Measure S transportation tax campaign as of September 4, 2026.
- • Measure S, a half-cent transportation tax measure, has raised approximately $1.5 million in total campaign support, with the Central Valley Community Foundation providing the largest share at $822,000.
- • Taylor's investment in Bitwise Industries—which collapsed in May 2023 after co-founders Jake Soberal and Irma Olguin Jr. orchestrated a $115 million Ponzi scheme—remains undisclosed; Soberal received an 11-year federal prison sentence and Olguin received 9 years.
- • The Measure S campaign represents a successor to the failed Measure C and faces active litigation from Fresno County Board of Supervisors seeking to block the measure from the November ballot.
Summary
Kat Taylor, a billionaire investor and spouse of former California gubernatorial candidate Tom Steyer, has injected $20,000 into the campaign supporting Fresno County's Measure S, a half-cent transportation tax initiative. According to campaign finance filings submitted to Fresno County on September 4, the contribution was directed to "Fresno Co. Residents for Better Roads and Safe Streets – Yes on S," a nonprofit and labor organization-backed committee.
Taylor's involvement in the Measure S campaign adds substantial resources to the transportation tax effort, which has accumulated approximately $1.5 million in total financial backing. The Central Valley Community Foundation has emerged as the campaign's primary funder, committing $822,000 to the initiative. Leadership Counsel for Justice and Accountability contributed an additional $75,000 in the preceding month. Measure S functions as a successor to the failed Measure C transportation tax proposal.
Taylor's presence in this campaign carries notable context given her previous venture capital involvement. In 2019, she participated in Bitwise Industries' Series A funding round alongside prominent investors including Mark Cuban, Arlan Hamilton, and lead backers Kapor Capital and New Voices Fund. The investment amount was not publicly disclosed. However, Bitwise Industries collapsed in May 2023 after exhausting capital reserves, resulting in approximately 1,000 job losses across multiple states. Subsequent federal investigation revealed that Bitwise co-founders Jake Soberal and Irma Olguin Jr. had orchestrated a $115 million Ponzi scheme. Both founders pleaded guilty to conspiracy to commit wire fraud and wire fraud charges; Soberal received an 11-year federal sentence while Olguin was sentenced to nine years.
The Measure S initiative operates within a contested political environment. Fresno County's Board of Supervisors has initiated litigation to prevent the measure from appearing on the November ballot, marking an escalation in the ongoing dispute over the county's transportation tax strategy.
Taylor's involvement in the Measure S campaign adds substantial resources to the transportation tax effort, which has accumulated approximately $1.5 million in total financial backing. The Central Valley Community Foundation has emerged as the campaign's primary funder, committing $822,000 to the initiative. Leadership Counsel for Justice and Accountability contributed an additional $75,000 in the preceding month. Measure S functions as a successor to the failed Measure C transportation tax proposal.
Taylor's presence in this campaign carries notable context given her previous venture capital involvement. In 2019, she participated in Bitwise Industries' Series A funding round alongside prominent investors including Mark Cuban, Arlan Hamilton, and lead backers Kapor Capital and New Voices Fund. The investment amount was not publicly disclosed. However, Bitwise Industries collapsed in May 2023 after exhausting capital reserves, resulting in approximately 1,000 job losses across multiple states. Subsequent federal investigation revealed that Bitwise co-founders Jake Soberal and Irma Olguin Jr. had orchestrated a $115 million Ponzi scheme. Both founders pleaded guilty to conspiracy to commit wire fraud and wire fraud charges; Soberal received an 11-year federal sentence while Olguin was sentenced to nine years.
The Measure S initiative operates within a contested political environment. Fresno County's Board of Supervisors has initiated litigation to prevent the measure from appearing on the November ballot, marking an escalation in the ongoing dispute over the county's transportation tax strategy.
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