For that reason, his $1 billion bet on the Transamerica Pyramid in 2020 was hailed by politicians as a much-needed turning point for the city, whose reputation had been dragged through the mud for its struggles with mass vacancies and street issues. When asked by the San Francisco Chronicle on Tuesday whether he has even a minority ownership stake in the Transamerica Pyramid, Shvo declined to answer (opens in new tab) . “We don’t know why that newspaper chose to publish a story they were told is false,” a spokesperson for Shvo told The Standard. Core alleges that Shvo misrepresented himself and misused funds, while he claims his investors are owed millions in unpaid rent. In response to concerns about his stewardship of the Pyramid, Shvo this month touted record-high leasing rents and said the tower is around 85% occupied.