California Governor Race Dynamics Shift
The race for California’s governor has seen a swift expansion this year, with several candidates stepping into the fray. However, it appears to be narrowing down now.
On Friday morning, Lt. Colonel Eleni Kounalakis, a prominent Democratic donor and the first notable candidate to officially announce her governor campaign back in April 2023, revealed she’ll be withdrawing from the race to instead pursue the role of state treasurer.
This announcement marks a significant shift in the governor’s race, the second major development in just two weeks. Recently, former Vice President Kamala Harris also declared she wouldn’t run, leaving other Democrats scrambling to fill the void.
Kounalakis expressed in a statement that her focus as treasurer would be on “California’s financial future, which can really make a difference.” The role involves sitting on a powerful committee responsible for managing the state’s assets, overseeing employee pension plans, and administering funds for affordable housing and infrastructure initiatives. She believes this position could address “everything from affordable housing and clean energy to infrastructure and education, with a focus on strategic investments in fiscal responsibility and economic opportunities.”
“This job matters, and I’m ready for the challenge,” Kounalakis stated.
Previously, she served as the U.S. ambassador to Hungary and comes from a family with strong ties to Sacramento’s affluent real estate sector. Back in 2016, Kounalakis was a co-chair for Hillary Clinton’s campaign in California, playing a crucial role in fundraising and providing foreign policy insights.
Her family’s connections extend into Bay Area political circles, including notable figures like U.S. Congressman Nancy Pelosi, who publicly supported Kounalakis after Harris’s announcement.
Kounalakis’s departure clears the way for other candidates to forge connections and seek contributions from influential donors.
Among those still in the race are former Senator Toni Atkins, Xavier Becerra (California’s former Attorney General and Biden’s Chief Cabinet Secretary), philanthropist Stephen Cloobeck, former Orange County councilor Katie Porter, public figure Tony Thurmond, ex-Los Angeles Mayor Antonio Villaraigosa, and former state controller Betty Yi.
On the Republican side, former Fox News commentator Steve Hilton and Riverside County Sheriff Chad Bianco are prominent figures in the contest.
Early polls placed Kounalakis in the upper tier of candidates, yet many voters indicated they hadn’t made up their minds or were unfamiliar with her.
Although Kounalakis had accumulated millions for her governor’s campaign, she’s expected to transfer those funds for her treasurer bid.
In this new race, she’ll face off against other California politicians, including Senator Anna Caballero (D-Salinas), former Oakland mayor Libby Schaff, and Tony Vasquez, who serves on the state’s Equality Commission.
Elected as lieutenant governor in 2018 and re-elected in 2022, Kounalakis’s current position is largely ceremonial but has previously served as a stepping stone to higher office.
