It was my goal to make Oakland safer, cleaner, and more vibrant,” Thao said in a statement. “And I am proud of what we accomplished together.”

The signature gathering required to bring Thao’s recall before voters was bankrolled by a single Piedmont resident, Farallon Capital hedge-fund manager Philip Dreyfuss, who poured at least $1.9 million into the Alameda County elections this past year.

For the first time in the city's history, Oakland voters have successfully recalled a mayor. Mayor Sheng Thao conceded on Friday evening, promising a smooth transition in the transfer of power to the next administration.