Key Sentence:
- California Governor Gavin Newsom’s victory in the September 14 election was helped by overwhelming support from billionaires.
Of the 28 billionaire donors Billionaire Winner identified by who have donated to the most significant campaign finance committees, 26 helped keep Newsom in office. Together, these donors have invested $9.2 million in two committees opposing the withdrawal (both committees received more than $67 million in total). At the same time, the largest commission for the governor’s resignation received only $250,000 in total donations from two billionaires.
The most prominent supporters to speak out against the withdrawal are Netflix CEO Reid Hastings (donated $3 million), Connie Ballmer. They worked with Los Angeles Clippers owner and former Microsoft CEO. Steve Ballmer ($1 million) and Priscilla Chan, wife of the Facebook founder and CEO. Mark Zuckerberg ($750,000).
Some of these donors have even made more donations Billionaire Winner to Newsham’s committee for the governor’s campaign – contributions not mentioned in this article. For example, Hastings and his wife have donated at least $124,000 to Newsom’s Board of Governors for California by 2022. According to government documents.
“Many California billionaires are in the tech sector,” Jack Pitney. Professor of political science at Claremont McKenna College, told Forbes in July. “They see Democrats as being more sympathetic to science and international trade. They are dangerous about the Republican position on social issues and immigration.”
But several billionaires also came from Silicon Valley to support the foreclosure.
Chamath Palihapitiya, the founder of VC Social Capital, donated $200,000 to the two committees supporting the withdrawal. And Douglas Leone, the managing partner of venture capital firm Sequoia Capital, donated $50,000 to one of the committees supporting the withdrawal. Here’s a closer look at the donors – billionaires and their husbands – Forbes found after reviewing requests from state commissions that raised at least $1 million in withdrawal attempts.