{"id":431,"date":"2026-05-28T12:30:34","date_gmt":"2026-05-28T12:30:34","guid":{"rendered":"https:\/\/californiamovingreport.com\/index.php\/2026\/05\/28\/follow-the-money-whos-backing-californias-next-governor-and-why\/"},"modified":"2026-05-28T12:30:34","modified_gmt":"2026-05-28T12:30:34","slug":"follow-the-money-whos-backing-californias-next-governor-and-why","status":"publish","type":"post","link":"https:\/\/californiamovingreport.com\/index.php\/2026\/05\/28\/follow-the-money-whos-backing-californias-next-governor-and-why\/","title":{"rendered":"Follow the money: Who\u2019s backing California\u2019s next governor \u2014 and why"},"content":{"rendered":"
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Campaign donations are both a measure of popular support and a sign of which candidates special interests believe they can influence. CalMatters analyzed campaign finance data in the California governor\u2019s race. Here are five takeaways on where the money is coming from and where it\u2019s going.<\/p>

Read more New California law bans law enforcement from interfering in state elections<\/a><\/p>\n

Outside money is shattering records<\/strong><\/h2>\n

It\u2019s a record-breaking election when it comes to spending by corporations and special interest groups trying to influence who becomes the next governor.\u00a0<\/p>\n

Outside groups, which unlike candidates can receive unlimited donations, reported spending $79 million so far \u2014 more than double the amount spent through the November 2018 general election when Gavin Newsom won his first term.\u00a0<\/p>\n

Billionaire Tom Steyer is the biggest target: A political spending committee called California Is Not For Sale, funded by the state Realtors association, the California Chamber of Commerce, Pacific Gas & Electric and the state\u2019s electrical workers\u2019 union poured $32 million into ads opposing him.\u00a0<\/p>\n

Steyer has vowed to lower electricity bills by challenging PG&E\u2019s monopoly in much of Northern California. He\u2019s also promised to pursue a ballot measure that would raise revenue for public services by requiring more accurate property tax assessments on business properties, a move that could upend the commercial real estate market.\u00a0<\/p>\n

Some of the same groups spending against Steyer are running ads for Xavier Becerra. Those groups \u2014 along with organizations representing doctors, contractors and several labor unions \u2014 have spent $13 million through PACs to boost Becerra.\u00a0<\/p>\n

Chevron, McDonald\u2019s, dialysis giant DaVita and one of the state\u2019s largest oil drillers, California Resources Corp., are funding one of the largest pro-Becerra groups, with each of them contributing $500,000. Meta and AirBnB chipped in about $1 million each and health insurance corporation Centene, which runs California-based HealthNet, put in $100,000.<\/p>\n

Steyer is reveling in the spending against him, pointing to it as proof he\u2019d stand up to utilities and big business. A climate activist, Steyer has highlighted Becerra\u2019s support from Chevron.\u00a0<\/p>\n

The progressive unions California Nurses Association and United Domestic Workers have spent a comparatively modest $1.4 million on mailers and digital media boosting Steyer. Outside groups have also spent $1.8 million opposing Republican frontrunner Steve Hilton, a former Fox News host and British political strategist.<\/p>\n