Where the money’s coming from in California governor’s race
CalMatters • • nation
Key Points:
- Outside spending in the California governor’s race has reached a record $79 million, more than double the amount spent in 2018, with significant funds targeting billionaire Tom Steyer and supporting Xavier Becerra.
- Tom Steyer faces $32 million in opposition from groups linked to the real estate, utility, and labor sectors due to his plans to challenge PG&E’s monopoly and reform property tax assessments.
- Silicon Valley-backed candidate San Jose Mayor Mahan received nearly $22 million in outside spending but failed to gain traction, leading to a refund of $1 million from Netflix CEO Reed Hastings.
- Steyer has personally spent $213 million on his campaign, making it the most expensive primary gubernatorial campaign in California history, outpacing previous records.
- Republican frontrunner Steve Hilton has the highest number of donors (over 20,000), with nearly 25% from outside California, while Democratic candidate Katie Porter has the second-highest number of donors and the largest share of out-of-state contributors.