![\"A](\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/03\/-S3840x2556-FPNG.png\"\/)
Ethan Agarwal, once a gubernatorial candidate, is running for Congress. | Source: Sportsfile via Getty Images<\/p>\nA high-profile Silicon Valley congressman may have to campaign harder this year to defend his seat, as a Democrat from the tech community is expected to run against him.<\/p>\n
Rep. Ro Khanna, who has represented California\u2019s 17th Congressional District since 2017, has aligned himself with the Democratic Party\u2019s progressive wing while maintaining friendly ties with the tech industry.<\/p>\n
However, Khanna has drawn controversy over stock trading by family members and his support for a potential \u201cbillionaire tax\u201d ballot measure, prompting Ethan Agarwal, a tech founder who previously explored a run for governor, to challenge him.<\/p>\n
\u201cIt\u2019s the hypocrisy and the lack of trust that we have in him that\u2019s causing me to run,\u201d Agarwal, 40, told The Standard. \u201cThis district deserves a representative focused on people, not their portfolio.\u201d<\/p>\n
Ethan Agarwal, once a gubernatorial candidate, is running for Congress. | Source: Sportsfile via Getty Images<\/p>\n
Agarwal pointed to stock trades made through a trust in the names of Khanna\u2019s wife and young children. Khanna reported (opens in new tab)<\/a> more than 3,000 trades last year totaling nearly $50 million. A 2022 investigation (opens in new tab)<\/a> by The New York Times found that Khanna\u2019s congressional duties overlapped with more than 15% of the companies his family members traded, raising potential conflicts of interest.<\/p>\n Khanna told The New York Times (opens in new tab)<\/a> at the time that he does not personally trade stocks and was not involved in trading family members\u2019 stock assets. Khanna has led efforts in Congress to ban members from trading stocks while in office. (opens in new tab)<\/a><\/p>\n \u201cRo has always welcomed competition and looks forward to a campaign based on ideas and what is best for the 17th district,\u201d said Sarah Drory, spokesperson for his campaign.<\/p>\n Agarwal\u2019s campaign has labeled him \u201cTrader Ro.\u201d<\/p>\n \u201cOn the one side, he talks about wealth inequality and taxing rich people,\u201d Agarwal said. \u201cAnd then on the other side, he goes home and is making tens of millions of dollars trading stocks.\u201d<\/p>\n Another flashpoint is Khanna\u2019s support for a potential California ballot measure that would impose a one-time 5% tax on residents worth more than $1 billion. Khanna\u2019s backing of the proposal, and especially his viral X post (opens in new tab)<\/a> mocking billionaires who threatened to leave the state, has triggered backlash (opens in new tab)<\/a> within the Silicon Valley community.<\/p>\n Agarwal argues that the measure could reduce tax revenue if wealthy residents flee the state.<\/p>\n \u201cThe wealth tax is the wrong way to achieve the stated goals,\u201d he said. \u201cWhat\u2019s already happened is that the wealthiest people leave, and then the amount of tax that they pay goes down because they\u2019re no longer in the state.\u201d<\/p>\n A tech bro in politics<\/p>\n Agarwal, who was born in Canada to Indian immigrant parents, moved to the Bay Area at age 9. He cofounded a fintech company and an audio-focused fitness app, each of which raised tens of millions of dollars in funding before being sold.<\/p>\n He announced last year<\/a> that he was running for governor, raising about $250,000. After Khanna voiced support for the billionaire tax, members of the tech community discussed backing a challenger, and they found Agarwal.<\/p>\n Garry Tan, CEO of Y Combinator, has expressed support for Agarwal, saying California needs a new generation of leadership rooted in building companies and jobs.<\/p>\n \u201cEthan understands firsthand what it takes to start and scale businesses in this state,\u201d Tan said in a statement. \u201cCalifornia\u2019s future depends on innovation, economic growth, and pragmatic problem-solving. I believe Ethan represents that future.\u201d<\/p>\n Khanna has more than $15 million in cash in his campaign account, according to federal filings.<\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/03\/-S3840x3840-FPNG.png\"\/)
Source: Ethan Agarwal campaign<\/p>\n