A prominent San Francisco real estate mogul who was mugged for his watch outside his $15 million Pacific Heights home says that the rampant rate has reached a tipping point, saying the city 'may never recover' because its residents have 'no sense of security.'Hamid Moghadam, the CEO of Prologis, which was founded and is based in the Bay City, said that two armed robbers confronted him on June 26, flashed guns at him and took his Patek Philippe watch.Moghadam, who shares the neighborhood with some of the world's most rich and powerful people, like Oracle CEO Larry Ellison, angel investor Peter Thiel and House Speaker , according to Bloomberg News, said the experience left him shaken.
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