Gavin Newsom praised the Biden administration’s decision to intervene on behalf of Silicon Valley Bank’s clients after the bank was taken over by the FDIC on Friday amid a bank run. What Newsom didn’t mention is that it also protected his own companies if they held over $250,000 in deposits. In 2021, Silicon Valley Bank gave $100,000 to the charity founded by Siebel, the California Partners Project, at the request of Newsom. When asked during his 2018 campaign for governor if he would sell his companies, Newsom reportedly replied, “These are my babies, my life, my family. The move echoed President Donald Trump’s decision in 2017 to move his companies into a blind trust that would be run by his sons.