With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today.
Kounalakis becomes latest Democrat to drop run for governor
Lt. Gov. Eleni Kounalakis gives an interview at CalMatters on Sept. 19, 2022.
(
Martin do Nascimento
/
CalMatters
)
Lt. Gov. Eleni Kounalakis, the first boldfaced name to jump into the 2026 governor’s race more than two years ago, has dropped out and will run for state treasurer instead.
“At this moment, I believe I can make the greatest impact by focusing on California’s financial future,” she said in a statement Friday. “As State Treasurer, I will bring a deep commitment to fiscal responsibility, economic opportunity, and strategic investment in our state’s priorities — from affordable housing and clean energy to infrastructure and education.”
Her decision comes at an odd moment in the campaign for California’s top office. Just last week, former Vice President Kamala Harris announced that she would not run for governor next year, seemingly cracking the unsettled race wide open ahead of the June primary. That same day, former House Speaker Nancy Pelosi unofficially endorsed Kounalakis in a television interview.
But Kounalakis, who has served as lieutenant governor since 2019, had been sputtering in a crowded field of prominent but low-wattage Democrats. They also include former U.S. Rep. Katie Porter, former U.S. Health and Human Services Secretary Xavier Becerra, former Los Angeles Mayor Antonio Villaraigosa, former state Controller Betty Yee, former state Senate leader Toni Atkins, state Superintendent of Public Instruction Tony Thurmond and timeshare magnate Stephen Cloobeck.
Sponsored message
-
Families can get notified when services reach their area and whether they qualify. -
Down south, a group of bagel makers is quietly generating excitement in the bagel-verse. -
The spending plan would gut prevention, outreach and supportive services to maintain temporary shelter beds and absorb rate increases previously covered by other funding sources.
A poll released Friday by Emerson College found Kounalakis running sixth, with only 3% support — behind the Los Angeles billionaire developer Rick Caruso, who has not even entered the race.
And despite significant personal wealth from her background as a real estate developer, Kounalakis struggled to fundraise for a campaign that could ultimately cost tens of millions of dollars to win. She recently reported raising only about $100,000 in the first six months of the year.
In her announcement, Kounalakis emphasized her experience developing housing and said addressing affordability would be a focus for her if she wins the treasurer’s office.
“I will ensure that we efficiently leverage every dollar at our disposal to increase housing production,” she said in a statement. “This work is critical and I am prepared for the challenge.
This article was originally published on CalMatters and was republished under the Creative Commons Attribution-NonCommercial-NoDerivatives license.
Trending on LAist
-
A two-week ban put Brook Haley's job in jeopardy. -
A suspect wounded by police is in custody, according to authorities. Police found another person dead from apparent gunshot wounds at the scene. -
Patricia Krenwinkel has been recommended for parole for a second time since 1971 murder conviction. Under the sway of Charles Manson, his followers committed a series of gruesome murders in 1969. The cult leader's Helter Skelter plan terrorized the city and still fascinates more than 50 years later. -
The city will make presentations at several upcoming gatherings after LAist revealed $700,000 in contracts had been signed outside public view. -
The county planned to send concrete from the Eaton Fire burn area to the Antelope Valley for later use reinforcing roads. The plan was abandoned after community outrage. -
The medical examiner has not yet determined a cause of death. Lucrecia Macias Barajas' family said the encampment where her daughter found her mother's body had been a known problem for many years.
Best of LAist
