{"id":2581846,"date":"2026-03-19T16:50:02","date_gmt":"2026-03-19T20:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/billionaires-pick-their-favorite-in-californias-packed-governors-race\/"},"modified":"2026-03-19T16:52:30","modified_gmt":"2026-03-19T20:52:30","slug":"billionaires-pick-their-favorite-in-californias-packed-governors-race","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/billionaires-pick-their-favorite-in-californias-packed-governors-race\/","title":{"rendered":"Billionaires pick their favorite in California&#8217;s packed governor&#8217;s race"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbillionaires-pick-their-favorite-in-californias-packed-governors-race%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2581846&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Billionaire donors are heavily backing Matt Mahan in California\u2019s crowded governor\u2019s race. A San Francisco Chronicle analysis shows that more than 30 state-based billionaires have contributed about $8.6 million to mahan or to outside committees backing him, with the total nearing $9 million midweek. The money has flowed primarily to Mahan, though a few donors also support Republican contender Steve Hilton. Notable backers include Bay area real estate magnate John sobrato and venture capitalist Michael Moritz, who gave directly to Mahan.Some ultra-wealthy donors are contributing to both Mahan and Hilton, including Google co-founder Sergey Brin, Ripple co-founder Chris Larsen, and Palantir co-founder Joe Lonsdale.California campaign finance rules cap individual donations to candidate committees at $39,200 per election (up to $78,400 across primary and general).<\/p>\n<p>Key implications and context:<\/p>\n<p>&#8211; Despite the fundraising surge, Mahan remains far behind in polls, with Berkeley IGS suggesting about 4% support among likely Democratic primary voters, well behind candidates like Eric Swalwell and Katie Porter.<\/p>\n<p>&#8211; mahan\u2019s appeal to tech billionaires aligns with his stance against heavy regulation of emerging tech,including AI,but critics worry about the influence of Silicon Valley money on state policy.<\/p>\n<p>&#8211; Labor groups and some critics warn about the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-shocking-reasons-trump-should-exit-the-u-n-now\/\" title=\"5 Shocking Reasons Trump Should Exit The U.N. Now\">increasing political leverage<\/a> of wealthy donors,while supporters argue that billionaires can contribute to shaping smarter policy frameworks.<\/p>\n<p>&#8211; California\u2019s top-two primary system means the two finishers,regardless of party,advance to the November general election,keeping the race open and highly influenced by fundraising dynamics.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Billionaires pick their favorite in California&rsquo;s packed governor&rsquo;s race<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2514954\" class=\"tpd-featured-video bridtv\"><\/div>\n<p><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/california\/\" type=\"post_tag\" id=\"60\">California&rsquo;s<\/a> wealthiest donors are overwhelmingly backing San Jose Mayor<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/state\/4443162\/matt-mahan-challenges-gavin-newsom-crowded-field-risks-democratic-backlash\/\" type=\"post\" id=\"4443162\"> Matt Mahan<\/a> (D) in the heavily contested <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/2026-election\/\" type=\"post_tag\" id=\"11675\">governor&rsquo;s race<\/a>.<\/p>\n<p>An <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.sfchronicle.com\/politics\/article\/matt-mahan-governor-california-billionaire-22080461.php\" type=\"link\" id=\"https:\/\/www.sfchronicle.com\/politics\/article\/matt-mahan-governor-california-billionaire-22080461.php\">analysis <\/a>published Thursday by the <em>San Francisco Chronicle<\/em> 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 <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/gavin-newsom\/\" type=\"post_tag\" id=\"1426\">Gov. Gavin Newsom<\/a> (D-CA).<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/state\/4497871\/sabato-crystal-ball-midterm-elections-governor-democrats\/\">Sabato&#8217;s Crystal Ball moves six gubernatorial elections to favor Democrats<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/congressional\/4497722\/kevin-kiley-open-caucus-democrat-next-term\/\">Kevin Kiley open to caucusing with Democrats in next term after going independent<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/congressional\/4497166\/democrats-must-appear-moderate-primary-elections-joe-concha\/\">Democrats need to &#8216;try to appear moderate&#8217; to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-need-to-try-to-appear-moderate-to-win-primaries-joe-concha\/\" title=\"... need to &#039;try to appear moderate&#039; to win primaries: Joe Concha\">win primary elections<\/a>: Joe Concha<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">San Jose Mayor Matt Mahan writes on a white board in his office in San Jose, California, on May 5, 2025. (Barnini Chakraborty\/Washington Examiner)<\/figcaption><\/figure>\n<p>At least 25 billionaires have supported Mahan, contributing a combined $8.6 million or more as of midweek. That level of financial backing could give Mahan, who is lagging in the polls, a meaningful boost as he works to stand out in a crowded June 2 primary election. Republican contender and former Fox News host <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4488655\/republican-steve-hilton-leads-california-poll-good-democrats\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/news\/4488655\/republican-steve-hilton-leads-california-poll-good-democrats\/\">Steve Hilton<\/a> ranks second, with seven billionaire donors.<\/p>\n<p>Among the high-profile contributors backing Mahan are Bay Area real estate magnate <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.forbes.com\/profile\/john-a-sobrato\/\" type=\"link\" id=\"https:\/\/www.forbes.com\/profile\/john-a-sobrato\/\">John Sobrato<\/a> and venture capitalist <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.forbes.com\/profile\/michael-moritz\/\" type=\"link\" id=\"https:\/\/www.forbes.com\/profile\/michael-moritz\/\">Michael Moritz<\/a>. Like many others identified in the analysis, both gave directly to his campaign. State campaign finance rules cap donations to candidate committees at $39,200 per election &mdash; meaning individuals can contribute up to $78,400 across the primary and general elections combined.<\/p>\n<p>Even so, the available fundraising data remains incomplete. Large contributions above $5,000 must be disclosed quickly, but detailed statewide records for 2026 are still being released, and committees are not required to report smaller donations until later in the spring. Mahan only entered the race earlier this year, further limiting the current snapshot.<\/p>\n<p>Supporters have already steered at least $24 million toward Mahan&rsquo;s candidacy since his launch in late January &mdash; more than any rival except billionaire Tom Steyer, who largely funds his own campaign.<\/p>\n<p>A small number of ultra-wealthy donors have hedged their bets.<\/p>\n<p>Google co-founder Sergey Brin, along with Ripple Labs co-founder Chris Larsen and Palantir Technologies co-founder Joe Lonsdale, have each given to both Mahan and Hilton.<\/p>\n<p>Brin, 52, has largely stayed out of politics until this year. He made headlines after leaving California for Nevada. Hilton&rsquo;s wife, Rachel Whetsone, worked at Google from 2005 to 2015, running its communications and public policy efforts.<\/p>\n<p>Despite the financial advantage, Mahan has yet to see a major payoff in the polls. A recent Berkeley IGS survey found him drawing just 4% support among likely Democratic primary voters, tied for seventh place with former Los Angeles Mayor Antonio Villaraigosa. He trails several better-known Democrats, including Rep. Eric Swalwell (D-CA) and former Rep. Katie Porter, while 16% of voters remain undecided. Under California&rsquo;s primary system, the top two finishers in June, regardless of party, advance to the November general election.<\/p>\n<p>Mahan&rsquo;s appeal to billionaire donors is tied in part to his policy positions. He has strongly opposed a proposed ballot measure that would impose a one-time wealth tax on billionaires and has taken tougher stances on low-level crime and homelessness, priorities that resonate with some in the tech and business communities.<\/p>\n<p>Mahan&rsquo;s rise has not gone unnoticed by critics like Ludovic Blain, CEO of the California Donor Table, which focuses on electing progressive candidates. He told the <em>San Francisco Chronicle <\/em>that many of the same billionaires backing Mahan built fortunes in ways that <a href=\"https:\/\/amzn.to\/3YuVZYV\" >disproportionately impacted working-class people<\/a> and are now investing politically to protect their interests.<\/p>\n<p>&ldquo;And now these billionaires are investing political money in order to keep their taxes low and to make government work even more for them, at the expense of all the rest of us,&rdquo; said Blain, whose group supports Steyer.<\/p>\n<p>Labor groups have also raised concerns about the growing influence of tech wealth in the race. The California Labor Federation recently endorsed a slate of Democrats, including Steyer, Swalwell, Villaraigosa, and Porter, while warning about candidates they view as aligned with Silicon Valley interests.<\/p>\n<p>Mahan has defended his support from tech leaders, arguing that overregulating emerging industries like artificial intelligence could push innovation elsewhere. During a recent <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.youtube.com\/watch?v=D5v1lKEToUM\" type=\"link\" id=\"https:\/\/www.youtube.com\/watch?v=D5v1lKEToUM\">appearance<\/a> on the <em>Daily Show<\/em>, he said the goal should be to shape the industry in a way that benefits the public rather than stifles it.<\/p>\n<p><strong><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/investigations\/4496219\/california-gop-purge-white-nationalist-groypers\/\" type=\"post\" id=\"4496219\">CALIFORNIA GOP ORGANIZES PURGE OF WHITE NATIONALIST &lsquo;GROYPERS&rsquo;<\/a><\/strong><\/p>\n<p>Some of Mahan&rsquo;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-current-and-former-employees-are-trashing-left-wing-propaganda-operative-tara-mcgowan\/\" title=\"Why Current and Former Employees Are Trashing Left-Wing Propaganda Operative Tara McGowan\">billionaire backers<\/a> also have ties to prominent conservative donor Peter Thiel, co-founder of Palantir. Others include developer Rick Caruso, Snap co-founder Evan Spiegel, Coinbase&rsquo;s Brian Armstrong, tech investor Vinod Khosla, and longtime donor Bill Oberndorf, a growing group that underscores just how much of Silicon Valley&rsquo;s financial firepower is now behind Mahan&rsquo;s bid.<\/p>\n<p>The <em>Washington Examiner<\/em>&lsquo;s calls and emails to the Mahan and Hilton campaigns seeking comment on criticism suggesting that some donors may expect policy influence if they are elected governor were not returned.<\/p>\n<\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaires back Matt Mahan in CA governor race<\/p>\n","protected":false},"author":2646,"featured_media":2581847,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/IMG_8254-scaled.webp?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[76167,76166,69845],"class_list":["post-2581846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-billionaire-donors","tag-california-governor-race-2","tag-campaign-finance-2"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/IMG_8254-scaled.webp?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2581846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2646"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2581846"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2581846\/revisions"}],"predecessor-version":[{"id":2581850,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2581846\/revisions\/2581850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2581847"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2581846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2581846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2581846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}