Record-setting outside money pouring into California governor's race

Corporations, labor unions, tech leaders, Native American tribes, and other special interests donated $79.6 million to independent committees aimed at swaying California’s governor race ahead of the June 2 primary. Many top backers have business interests tied to the next governor and state agencies, seeking to strengthen candidates aligned with their priorities or undercut those who oppose them. Election laws prevent independent expenditure committees from communicating or coordinating with campaigns, but the separation has been viewed as largely performative. The largest outside spending targets Tom Steyer, a leading Democrat, with nearly $32.3 million donated against his candidacy. Major donors include PG&E and independent expenditure efforts tied to the California Chamber of Commerce and the California Association of Realtors, reflecting policy and regulatory interests in areas such as utilities, property taxes, and building issues.

"Corporations, labor unions, tech titans, Native American tribes and other special interests have donated a record-shattering $79.6 million to independent committees focused on swaying the volatile California governor's race ahead of the June 2 primary."

"Election laws bar independent expenditure committees from communicating or coordinating with campaigns, allowing candidates to emphasize that they have no control over the money that pours into these outside groups. The wall between the two has long been viewed as performative and penetrable."

"The greatest amount of outside spending has been directed at attacking billionaire hedge fund founder turned environmental warrior Tom Steyer, a leading Democrat in the race. Nearly $32.3 million had been donated to opposing his candidacy as of Monday, according to the California Target Book, a nonpartisan political almanac, which tracks independent expenditure committees."

"Among the major donors are utility giant PG&E, a political action committee sponsored by the California Chamber of Commerce and the California Assn. of Realtors' independent expenditure committee, which combined have utility, business, property tax and building issues affected by lawmakers and regulators in the state capital."

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