Silicon Valley billionaires, enterprise capitalists, and actual property executives dominate the group of early donors giving hundreds of thousands to Matt Mahan’s 2026 marketing campaign for governor, in accordance with newly filed state marketing campaign finance stories.
Marketing campaign filings present the San Jose mayor’s committee reporting greater than $2.1 million in massive contributions, whereas Mahan introduced earlier this month that his marketing campaign struggle chest had reached a purpose of greater than $7 million.
Max donors giving $39,200 for each the first election in June and the November runoff embody Google co-founder Sergey Brin — whose estimated internet price is round a quarter-trillion {dollars} — in addition to billionaire Los Angeles developer Rick Caruso, conservative enterprise capitalists Joe Lonsdale, and Garry Tan, chief government of San Francisco-based startup accelerator Y Combinator.
The focus of max contributions underscores Mahan’s bullish assist amongst tech and enterprise elites, notably within the Bay Space and Los Angeles.
An unbiased committee supporting Mahan’s marketing campaign, referred to as California Again to Fundamentals, additionally seems to have some severe monetary backing, because it reportedly dropped $1.5 million on a Tremendous Bowl advert touting Mahan’s credentials to succeed Gov. Gavin Newsom.
“The Tremendous Bowl advert gave us a possibility to introduce Mayor Mahan to a statewide viewers as a problem-solver rising above the poisonous environment that surrounds our politics at the moment and the one candidate really fixing the issues that California voters need fastened,” committee spokesperson Matthew Rodriguez informed San José Highlight.
State legislation forbids candidates from coordinating with unbiased expenditure committees, however Mahan appeared to be parroting the group’s messaging in a tweet crowing over the cash his marketing campaign raised.
“Californians are displaying up for our Again to Fundamentals plan to construct the housing we’d like, finish road homelessness, and ensure that earlier than Sacramento asks us to pay extra, they do higher,” Mahan wrote on X.
A number of different high-profile contributors who gave $78,400 apiece to Mahan’s marketing campaign embody Roblox CEO David Baszucki and enterprise capitalists Jeremy Liew and Steve Jurvetson.
“As a lot as he likes to speak about again to fundamentals, it’s actually again to the billionaires,” Assemblymember Ash Kalra (D-San Jose) informed SFGATE.
Progressive billionaire Tom Steyer, who has poured greater than $38 million into his personal gubernatorial marketing campaign, in accordance with state marketing campaign data, blasted Mahan on Wednesday for being within the pocket of the wealthy conservatives, noting that Jurvetson is an ally of Elon Musk whereas Lonsdale co-founded tech protection firm Palantir with Peter Thiel.
“His marketing campaign is bankrolled by tech billionaires and company insiders who revenue off your knowledge, crush competitors, assault unions, and pour cash into surveillance and protection contractors,” Steyer stated in a press release.
“Californians deserve a governor who will stand as much as company energy, not bend the knee to it.”
Mahan’s marketing campaign supervisor, Adrian Rafizadeh, issued a press release to The Publish noting that he’s targeted on outcomes over squabbles with different candidates.
“Belief in metropolis authorities has elevated by almost 40% since he took workplace as a result of he delivered, and since he was keen to face as much as particular pursuits to get issues executed,” Rafizadeh stated. “We’re assured Californians throughout the state need that very same sensible, results-driven management.”
