Former state Comptroller Betty Yee launched her campaign for California governor in 2026 on Wednesday, joining a large field of Democratic candidates nearly a year after initially announcing her intention to run for the office.
In an announcement video posted to social media, Yee highlighted his modest upbringing and financial leadership in state government.
“People worry that we don’t have any power over our future, but I know we do,” Yee said. “That’s why I’m running for governor.” We have the courage and the power to make California matter to all of us again.
Yee joins a list of Democrats with experience in state government but a lack of statewide prominence vying to succeed Gov. Gavin Newsom, who is serving his second and final term.
Lieutenant Governor Eleni Kounalakis was the first to announce her campaign last spring. Superintendent of California. of Public Education Tony Thurmond launched its offer in September. Senator Toni Atkins (D-San Diego), former Speaker Pro Tem of the upper chamber, entered the race in January.
State Atty. Gen. Rob Bonta said he was considering, but had not officially joined the race. Rep. Katie Porter (D-Irvine), whose run for U.S. Senate ended after finishing in third place in the March 5 primary election, is among a slew of other names mentioned in circles politicians as potential candidates.
In announcing his campaign, Yee told a fascinating story about his upbringing, raised by his Chinese immigrant parents with his five siblings in a studio behind the family dry cleaning business in San Francisco.
“Our parents didn’t speak English, so I was managing the accounts, dealing with banks and suppliers to get things done,” Yee said, adding that she learned what the numbers meant to the family. “If the week’s earnings weren’t enough, we got by with one less carton of milk or one less loaf of bread. I learned that when things are out of balance, many communities are left to fend for themselves and sometimes left behind.
Yee’s campaign website says she began overseeing the company’s finances when she was 8 years old. A product of public schools, she studied sociology at UC Berkeley and attended Golden Gate University for her master’s degree in public administration.
Yee served as state budget director under former Governor Gray Davis before winning a seat on the California State Board of Equalization in 2006 and again in 2010. She was elected state comptroller in 2014. The following year, she revealed that the Board of Equalization was failing. of properly managing the money he collected and of not having recovered the debts owed. Her audits and investigations of the comptroller’s office, she said, revealed more than $4 billion in misappropriated funds. She won re-election in 2018.
His budget experience could appeal to California voters as the state grapples with a historic deficit. Budget projections suggest the next governor could find himself in a difficult fiscal environment if state revenues do not rebound.
Competing for support from many of the same donors could also pose a challenge for Yee and other Democrats. Kounalakis raised nearly $4 million for his campaign. Atkins has raised about $2.5 million, while Thurmond has less than $1 million.
A 2022 Times report detailed how Yee gave behind-the-scenes advice to a politically connected company seeking a $600 million no-bid government contract to supply COVID-19 masks and raised questions about his involvement . The deal with Blue Flame Medical LLC was flagged as possible fraud and the state was forced to recoup its $457 million cash advance to the company.
Yee said she had no financial interest in the contract and that the advice was tips she would offer to any business owner.
Times Staff Writer Melody Gutierrez contributed to this report.
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