Billionaires pick their favorite in California’s packed governor’s race

Published March 19, 2026 4:43pm ET



California’s wealthiest donors are overwhelmingly backing San Jose Mayor Matt Mahan (D) in the heavily contested governor’s race.

An analysis published Thursday by the San Francisco Chronicle shows that more than 30 billionaires, most of them based in the state, have poured close to $9 million into the election, either by donating directly to candidates or to outside committees backing them. The overwhelming share of that money has gone to Mahan, one of eight Democrats vying for the office of outgoing Gov. Gavin Newsom (D-CA).

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.