The sector of candidates for California governor expanded quickly this yr as a rising variety of politicians entered the race to interchange Gov. Gavin Newsom, however now it’s beginning to shrink.
Lt. Gov. Eleni Kounalakis, a serious Democratic donor and the primary well-known candidate to formally launch a marketing campaign for governor in April 2023, stated Friday morning that she is dropping out of the governor’s race and can as an alternative run for state treasurer.
Her announcement is the second massive growth within the governor’s race within the final two weeks. Final Wednesday, former Vice President Kamala Harris stated she wouldn’t run, making a vacuum different Democrats within the race are speeding to fill.
Kounalakis stated in a press release that as treasurer, she will be able to “make the best influence by specializing in California’s monetary future.”
The state treasurer manages California’s belongings and serves on highly effective boards that oversee the state worker pension programs and award financing for reasonably priced housing and infrastructure initiatives. That position, Kounalakis stated, would permit her to deal with “fiscal accountability, financial alternative and strategic funding in our state’s priorities — from reasonably priced housing and clear vitality to infrastructure and training.”
“This work is vital and I’m ready for the problem,” Kounalakis stated.
Kounalakis is the previous U.S. Ambassador to Hungary and the daughter of a rich actual property developer from Sacramento. In 2016, Kounalakis was a California co-chair of Hillary Clinton’s presidential marketing campaign, serving to increase cash and advising on international coverage.
Her household has deep ties to the well-heeled world of Bay Space political donors and energy brokers, together with U.S. Rep. Nancy Pelosi (D-San Francisco) who gave Kounalakis a nod on TV final week after Harris determined to not run for governor.
Her exit from the governor’s race creates a gap for different candidates to construct relationships and safe contributions from these donors, a few of whom had been ready to present till Harris decided.
The opposite Democrats within the race embrace Toni Atkins, a former Meeting speaker and Senate president professional tem; Xavier Becerra, former California legal professional basic and Biden Cupboard secretary; Stephen Cloobeck, a philanthropist and businessman; Katie Porter, a former congresswoman from Orange County; Tony Thurmond, the superintendent of public instruction; Antonio Villaraigosa, the previous mayor of Los Angeles; and Betty Yee, the previous state controller.
There are two distinguished Republicans working: former Fox Information commentator Steve Hilton and Riverside County Sheriff Chad Bianco.
Early polling confirmed Kounalakis within the high half of the gubernatorial subject, however most voters additionally stated they haven’t decided but and don’t know the candidates.
Kounalakis had raised hundreds of thousands of {dollars} in her race for governor, most of which her marketing campaign stated she’s going to be capable of switch to her race for treasurer.
She is going to face a number of different longtime California politicians in that race, together with state Sen. Anna Caballero (D-Salinas); the previous mayor of Oakland, Libby Schaaf; and Tony Vazquez, a member of the state Board of Equalization.
Kounalakis was first elected lieutenant governor in 2018 and was reelected in 2022. The workplace is a largely ceremonial publish that has been a launchpad for the governor’s mansion up to now: Each Newsom and former Gov. Grey Davis beforehand served as lieutenant governor.
