STATE: Treasurer

Note: this post will be periodically updated! (10/07/2026)

TOP * Eleni Kounalakis (D) * Jennifer Hawks (R)

VOTER GUIDE – QUICK LINKS:

Treasurer – Vote for (1)

(Calmatters) “As the state’s chief banker, the treasurer manages and invests unspent taxpayer money and oversees the state’s borrowing and debts. Though much of the work is technical, the official can make policy waves by launching new financial initiatives or influencing where the state invests its extra cash.“
(MSN) Practical ways California’s treasurer can influence state finances and policy

  • Treasurer can invest state funds in international renewable energy projects, as Bill Lockyer did through the World Bank.
  • Treasurer oversees major public employee pension funds, influencing shareholder rights and investment decisions.
  • Treasurer can act as a fiscal foil to governors, shaping state financial priorities.
  • Treasurer ensures professional staff manage state funds responsibly, safeguarding taxpayer interests.

ENDORSED Eleni Kounalakis (D) – Lieutenant Governor of California

TOP * Eleni Kounalakis (D) * Jennifer Hawks (R)

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  • Age: 60
  • Residence: San Francisco
  • Education: B.A. from Dartmouth, MBA from UC Berkeley
  • Employment & experience:
    • Lieutenant Governor of California (2019–present)
    • California Representative for International Affairs and Trade (2019–present)
    • Virtual Fellow, U.S. Department of State (2014–2017)
    • Chair, California Advisory Council for International Trade and Investment 2014
    • U.S. Ambassador to Hungary (2010–2013)
    • President and Executive, AKT Development Corporation (real estate development) (1992–2010)
  • Priorities:
    • Bring fiscal discipline and accountability to the Treasurer’s office and pair it with a clear strategy for putting the state’s resources to work.
    • Expand affordable housing and invest in infrastructure.
    • Protect retirement security and strengthen public pension systems.
    • Invest in the financial future of children and families by strengthening and expanding programs that help them save for education, prepare for retirement, and plan for the future.
  • Contributions  (All PACs that support this candidate may not be identifiable.)
    • Contributions (as of 6/30/2026, ): $9,006,210
    • Top Contributors:
  • Notable Endorsements:
    • San Francisco Chronicle
    • Governor Gavin Newsom
    • Former Vice President Kamala Harris
    • Former U.S. Secretary of State Hilary Clinton
    • Senator Adam Schiff
    • Senator Alex Padilla
    • Former U.S. Secretary of Transportation Pete Buttigieg
    • State Attorney General Rob Bonta
    • State Treasurer Fiona Ma
    • State Controller Malia Cohen
    • U.S. Assemblymember Nancy Pelosi
    • State Assemblymember Jacqui Irwin
    • State Assemblymember Henry Stern
    • Organizations: Sierra Club, California Council for Affordable Housing, California Environmental Voters
    • Unions: United Auto Workers, AFL-CIO, Teamsters, teachers. SEIU, firefighters, electricians, sheet metal workers
  • Links:
  • Reading:
    • (Sacbee) In the election for state treasurer, McClatchy endorses a Sacramento leader | Opinion
CADEM
GOOD club
California Young Democrats
sierra club
NATIONAL WOMEN'S CAUCUS
equality CA
Adam
GAVIN NEWSOMFiona Ma
JACQUI IRWIN
Henry Stern
CA Teachers association
NATIONAL UNION OF HEALTH WORKERS
UAW
Central Coast Labor Council

Jennifer Hawks (R) – Retired Businesswoman

TOP * Eleni Kounalakis (D) * Jennifer Hawks (R)

RECOMMENDATION: NO. OMG, look at her supporters!

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  • Age: retired, so probably over 60
  • Residence: Palo Alto
  • Education: (details unavailable)
  • Employment & experience:
    • Served on the executive team and as a school administrator at Sacred Heart Schools Atherton, a private Catholic school in Silicon Valley
    • Local Republican Party activist and volunteer signature gatherer in the San Francisco Bay Area 
  • Priorities:
    • Bring transparency back to the treasurer’s office
    • Institute audits
    • End reckless and wasteful investments to bring California’s debt under control, improve its credit rating, and create a stronger economy
    • Protect the retirement security of workers as a CalPERS and CalSTRS board member
  • Contributions  (All PACs that support this candidate may not be identifiable.)
  • Notable Endorsements:
    • Carl DeMaio, California State Assembly Member
    • Organizations – California Pistol & Rifle Association, Reform California, Capital Lincoln Club
  • Links:

(LAlist)“Hawks doesn’t have experience in elected office, a fact she touts proudly. Instead, the longtime Silicon Valley retiree most recently served on the executive team at Sacred Heart Schools, an Atherton Catholic school favored by the Bay Area’s venture capitalist elite. Hawks is also a local Republican Party activist. Both her career background and her politics make her an outlier for a job that has been exclusively held by Democratic career politicians going on three decades. Hawks said that gives her the skills and independence to provide a check on the rest of the state.”


Carl DeMaio

Jennifer got 4 stars from the Election Forum folks! That’s bad.