California gubernatorial candidates’ salaries revealed

There are 10 candidates operating to switch term-limited California Governor Gavin Newsom, and whereas polling might recommend one story, their tax returns reveal a really totally different image of who leads in earnings.

Of the ten, one candidate and his partner reported a staggering $39 million in annual earnings — greater than the remainder of the sector mixed, in response to CalMatters.

On the prime of the record by a large margin is billionaire Democrat Tom Steyer, whose wealth far exceeds that of each different main candidate mixed.

In 2024, Steyer and his spouse Kat Taylor reported about $39 million in earnings, pushed largely by world funding returns, in response to the couple’s tax filings.

Their earnings additionally included thousands and thousands in abroad passive earnings, smaller quantities from royalties, and income from their cattle ranch.

They paid roughly $5.4 million in federal taxes that yr, although their earnings has fluctuated sharply in recent times relying on market efficiency.

Steyer’s platform facilities on decreasing the price of residing, together with increasing reasonably priced housing, taking up utility monopolies, selling clear power jobs, and rising company taxes.

He constructed his fortune because the founding father of Farallon Capital Administration, which he ran for practically 27 years earlier than retiring in 2012.

Behind Steyer is Republican Steve Hilton, who reported $7.5 million in 2024. Most of that got here from his spouse Rachel Whetstone’s government position at Netflix, together with smaller earnings from media work, rental properties in London and investments. The couple paid about $2.8 million in federal taxes.

Hilton additionally earned about $250,000 from Fox Information, the place he served as an anchor earlier than leaving to run for governor.

The British-American candidate has led in at the least one ballot and has raised essentially the most cash among the many subject apart from Steyer.

Democrat Antonio Villaraigosa reported $1.4 million in 2024, largely from consulting work by Actum, a worldwide agency, and his personal firm, along with a $125,000 public pension from his time as Los Angeles mayor.

He paid roughly $462,000 in federal taxes and was the one prime candidate to file individually from his partner.

Amongst mid-tier earners, Democrat Xavier Becerra reported about $490,000 in 2024, together with his federal wage and rental earnings. His family paid roughly $116,000 in federal taxes.

Democrat Eric Swalwell reported $461,000, combining his congressional wage together with his spouse’s consulting earnings — she earned about $247,000 — and the couple paid about $83,000 in taxes.

On the decrease finish of 2024 filings, Democrat Betty Yee reported $211,000, primarily from pensions and Social Safety, with about $24,000 paid in federal taxes.

Not all candidates have submitted their most up-to-date returns. As of now, solely 4 candidates have filed 2025 tax returns, which mirror newer earnings figures.

Republican Riverside County Sheriff Chad Bianco reported $590,000 in earnings with about $127,000 in federal taxes. San Jose Mayor Matt Mahan reported $507,000 and paid roughly $99,000.

Democrat Tony Thurmond reported $309,000 in mixed family earnings and paid about $52,000, whereas Democrat Katie Porter reported $300,000, largely from her educational wage, and paid about $58,000 in taxes.

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