Where does CA gubernatorial campaign money come from?

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Campaign donations are both a measure of public support and an indicator of which candidates interest groups believe they can influence. CalMatters analyzes campaign finance data for California governor. Below are five conclusions about the origin and purpose of money.

Foreign money breaks records.

This is an unprecedented election in terms of spending by corporations and special interest groups trying to influence who becomes the next governor.

Outside groups, which unlike candidates can receive unlimited donations, have reported spending $79 million so far, more than double the amount spent in November 2018, when Gavin Newsom won his first term.

Billionaire Tom Steyer is the prime target: A political spending committee called California Not for Sale, funded by the state association of Realtors, the California Chamber of Commerce, Pacific Gas & Electric and the state’s electrical workers union, has spent $32 million on ads against him.

Steyer has committed to reducing electricity bills challenging PG&E’s monopoly in much of Northern California. He also promised to push a ballot initiative that would increase revenue for public services by requiring more accurate commercial property tax assessments, a move that could revolutionize the commercial real estate market.

Some of the same groups funding campaigns against Steyer are running ads in favor of Xavier Becerra. Those groups, along with organizations representing doctors, contractors and various unions, have spent $13 million through political action committees (PACs) to support Becerra’s candidacy.

Chevron, McDonald’s, dialysis giant DaVita and one of the state’s largest oil drillers, California Resources Corp., fund one of the largest groups backing Becerra, contributing $500,000 each. Meta and Airbnb contributed about $1 million each, and health insurance corporation Centene, which operates California-based HealthNet, contributed $100,000.

Steyer gloats about the spending spree against him, pointing to it as evidence that he would go after utilities and big corporations. As a climate activist, Steyer highlighted Chevron’s support for Becerra.

Progressive unions the California Nurses Association and United Domestic Workers have spent a relatively modest $1.4 million on pamphlets and digital advertising to support Steyer’s candidacy. Outside groups have also spent $1.8 million against GOP front-runner Steve Hilton, a former Fox News host and British political strategist.

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The second-largest foreign outlay went to promote Mahan, the mayor of San Jose and a moderate Democrat who joined late in the race generating high expectations in Silicon Valley.

California tech billionaires urged Mahan to run and backed him with millions in donations and two independent spending committees. They were drawn to his government efficiency agenda and his opposition to new taxes, positions that would protect them from legislative pressure to regulate the tech sector and raise taxes on the wealthy.

Donors included venture capitalists Michael Moritz and Brian Singerman, DoorDash CEO Tony Sue, Intuit founder Scott Cook, Google co-founder Sergey Brin and Los Angeles real estate developer and former mayoral candidate Rick Caruso.

Committees spent nearly $22 million on ads supporting Mahan, significantly more than the $9 million spent on his campaign. But the money wasn’t enough to overcome his significant lack of public recognition as the rookie mayor of a city that doesn’t usually get much attention. Strategists told committee supporters they need at least $45 million to make any difference.

One of the political action committees (PACs), California Back to Basics, returned $1 million to Netflix CEO Reed Hastings last week. Hastings cryptically posted on X that he didn’t ask for the money back. The refund is confirmation that the committee fell short of the $10 million to $15 million that the billionaire backers had hoped to raise in the final weeks of the campaign, said committee spokesman Matt Rodriguez.

Steyer’s spending breaks his own records.

Yet despite the generous donors of his opponents, none have been able to match the $213 million that Steyer has spent on his own campaign, allowing him to flood the media with ads, pay influencers to post videos with it Mr sending billboard trucks to gas stations highlighting Becerra’s support for Chevron.

That makes her the most expensive primary campaign in California gubernatorial history, surpassing that of former eBay CEO Meg Whitman, a Republican who spent about $94 million in the June 2010 primary (about $142 million today) and who spent tens of millions more before losing to Jerry Brown in the general election.

Donors from Swalwell flocked to Becerra.

DaVita, the California Medical Association and the California Professional Firefighters Association supported former Rep. Eric Swalwell’s bid for governor before he withdrew amid sexual assault allegations.

They were among Swalwell’s biggest supporters, who quickly switched to Becerra, who was delighted of growing support in social networks and in the democratic establishment.

Small donors made a similar jump. A CalMatters analysis found that since Swawell retired, more than 500 of his campaign donors have contributed to Becerra’s campaign. No other candidate received as much support from former Swalwell donors.

Swalwell, who also resigned from his congressional position, continues to use his gubernatorial campaign to pay more than $313,000 to attorney Sarah Azari, who is defending him against the charges. It has also refunded nearly $250,000 to nearly 50 donors.

Republican Steve Hilton had the most donors.

The Republican front-runner has raised the most campaign donors in the race: more than 20,000. Nearly a quarter of them live outside of California.

Former Fox News anchor seeks to drastically reduce state environmental regulations build housing on undeveloped suburban land and cut middle-class income taxes. He received a slight boost in donations after President Donald Trump endorsed him on April 6.

Katie Porter, the former Orange County Democratic congresswoman and consumer advocate, had the second-highest number of donors, with more than 15,000.

He also has the highest percentage of non-California donors, reflecting his relative national prominence thanks to his high-profile tenure that singles out corporate CEOs in Congress.

But fundraising stalled who was a much-loved progressive figure which boasts that it relies on grassroots donors and rejects corporate donations. From April 18 to May 19, he raised less money than Mahan.