California’s governor race: record outside spending and powerhouse donors shaping the field

Outside money is shattering records in California’s 2026 governor race, with about $79 million spent by outside groups and Tom Steyer’s team contributing roughly $213 million to boost his bid. Becerra benefits from major corporate and union backers, while tech billionaires backed Mahan to push for efficiency with little tax pressure. Swalwell donors largely pivoted to Becerra, and donor activity remains high for Hilton and Porter, illustrating how big-money and well-connected networks are steering the primary.