{"id":178470,"date":"2026-02-15T00:16:09","date_gmt":"2026-02-15T00:16:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/178470\/"},"modified":"2026-02-15T00:16:09","modified_gmt":"2026-02-15T00:16:09","slug":"why-billionaire-techies-are-betting-big-on-matt-mahans-california-governor-run","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/178470\/","title":{"rendered":"Why billionaire techies are betting big on Matt Mahan&#8217;s California governor run"},"content":{"rendered":"<p>Billionaires and tech moguls are spending mountains of cash to catapult\u00a0San Jose Mayor Matt Mahan to the front of the race for California governor.<\/p>\n<p>Recent campaign finance reports show Mahan has raised more than $2 million, though he has\u00a0<a href=\"https:\/\/x.com\/MattMahanSJ\/status\/2019623484717208059?s=20\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">touted raising a total of $7 million<\/a>\u00a0so far on social media. Google co-founder Sergey Brin, Palantir co-founder Joe Lonsdale and YCombinator CEO Garry Tan are among the Silicon Valley elite who maxed out their legally-allowed contributions \u2014 $78,400 each \u2014 into Mahan\u2019s\u00a0<a href=\"https:\/\/sanjosespotlight.com\/san-jose-mayor-jumps-into-governors-race\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">governor campaign<\/a>\u00a0in January.<\/p>\n<p><a href=\"https:\/\/sanjosespotlight.com\/\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" data-recalc-dims=\"1\" decoding=\"async\" width=\"780\" height=\"243\" data-attachment-id=\"158536\" data-permalink=\"https:\/\/localnewsmatters.org\/2025\/06\/17\/santa-clara-county-wraps-up-depressing-budget-cycle-in-anticipation-of-trump-cuts\/lnm-20250616-sjspotlightlogo-01\/\" data-orig-file=\"https:\/\/i0.wp.com\/localnewsmatters.org\/wp-content\/uploads\/2025\/06\/LNM-20250616-SJSPOTLIGHTLOGO-01.jpg?fit=1024%2C319&amp;ssl=1\" data-orig-size=\"1024,319\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"LNM-20250616-SJSPOTLIGHTLOGO-01\" data-image-description=\"&lt;p&gt;San Jose Spotlight logo, for use only with SJS-produced stories.&lt;\/p&gt;&#10;\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/localnewsmatters.org\/wp-content\/uploads\/2025\/06\/LNM-20250616-SJSPOTLIGHTLOGO-01.jpg?fit=300%2C93&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/localnewsmatters.org\/wp-content\/uploads\/2025\/06\/LNM-20250616-SJSPOTLIGHTLOGO-01.jpg?fit=780%2C243&amp;ssl=1\" src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/02\/1771114569_978_LNM-20250616-SJSPOTLIGHTLOGO-01.jpg\" alt=\"\" class=\"wp-image-158536\"  \/><\/a><\/p>\n<p>David Baszucki, the billionaire CEO of the gaming platform Roblox, and his wife Jan gave a combined $156,800 to Mahan\u2019s campaign, records show. The support for a moderate, billionaire-friendly governor extends to Southern California, where businessman and former Los Angeles mayoral candidate Rick Caruso contributed $78,400 to Mahan\u2019s campaign.<\/p>\n<p>The financial support comes as Mahan has\u00a0<a href=\"https:\/\/sanjosespotlight.com\/san-jose-mayor-opposes-billionaire-tax-idea\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">voiced opposition to a proposed billionaire tax<\/a>\u00a0in California over the early days of his statewide bid \u2014 and billionaires are responding.<\/p>\n<p>Adrian Rafizadeh,\u00a0<a href=\"https:\/\/sanjosespotlight.com\/conservative-heads-san-jose-mayors-governor-campaign\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Mahan\u2019s campaign manager<\/a>, said the mayor has united Californians against special interests.<\/p>\n<p>\u201cCalifornians want hope that the problems that have been seen as intractable are solvable,\u201d Rafizadeh told San Jos\u00e9 Spotlight. \u201cTrust in city government has increased by nearly 40% since (Mahan) took office because he delivered, and because he was willing to stand up to special interests to get things done.\u201d<\/p>\n<p>Mindy Romero, a political sociologist and founder of the Center for Inclusive Democracy, said the fundraising is substantial for a late-entry gubernatorial candidate \u2014 and a sign he\u2019s a candidate that can no longer be ignored.<\/p>\n<p>\u201cIf he keeps this pace up, then he could potentially surpass \u2014 if he hasn\u2019t already \u2014 other candidates in a very short amount of time,\u201d Romero told San Jos\u00e9 Spotlight. \u201cDoes that make him frontrunner? We\u2019d have to see what the polls say. He does have a ways to go in terms of all Californians knowing who he is and his name. But having the funding he\u2019s already gotten is a really strong sign he\u2019s going to have a viable and very competitive candidacy.\u201d<\/p>\n<p>Mahan\u2019s campaign filings also weave a tangled web of tech mogul support linked to Peter Thiel, the billionaire conservative benefactor and co-founder of data analytics software company Palantir. Thiel-linked donors include Lonsdale, who\u00a0<a href=\"https:\/\/ciceroinstitute.org\/people\/joe-lonsdale\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">later launched<\/a>\u00a0the Cicero Institute, a conservative policy think tank.<\/p>\n<p>Another donor linked to Thiel is Matthew Grimm, who with his wife Kimberly gave a combined $20,000 to Mahan\u2019s campaign, records show. Grimm was an\u00a0<a href=\"https:\/\/www.thetwentyminutevc.com\/matt-grimm\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">early Palantir hire<\/a>\u00a0and a principal at Mithril Capital, Thiel\u2019s growth fund. Grimm then\u00a0<a href=\"https:\/\/www.anduril.com\/anduril-leadership\" rel=\"nofollow noopener\" target=\"_blank\">co-founded Anduril Industries<\/a>, a defense tech company that\u00a0<a href=\"https:\/\/fnex.com\/anduril-secures-2-5b-in-funding-doubling-valuation-to-30-5b\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">saw major backing from Thiel\u2019s Founders Fund<\/a>. Grimm\u2019s Anduril co-founder Trae Stephens and his wife, who haven\u2019t donated to Mahan\u2019s campaign, founded ACTS 17, a Christian nonprofit that ministers to elites and\u00a0<a href=\"https:\/\/www.washingtonpost.com\/technology\/2025\/10\/10\/peter-thiel-antichrist-lectures-leaked\/\" rel=\"nofollow noopener\" target=\"_blank\">funded Thiel\u2019s 2025 lectures on the antichrist<\/a>.<\/p>\n<p>XYZ Venture Capital founder Ross Fubini \u2014 who donated $10,000 to Mahan\u2019s campaign \u2014 was also an\u00a0<a href=\"https:\/\/www.fintechfutures.com\/press-releases\/after-backing-companies-worth-more-than-6-billion-with-initial-fund-ross-fubini-s-xyz-venture-capital-debuts-80-million-fund-ii-for-early-stage-investments\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">early investor in Anduril and more than 20 startups by Palantir employees<\/a>.<\/p>\n<p>A handful of other wealthy Californians \u2014 some with ties to Thiel \u2014 came together to\u00a0<a href=\"https:\/\/sanjosespotlight.com\/heres-who-paid-for-san-jose-mayors-super-bowl-ad\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">secure Mahan a Super Bowl advertisement<\/a>\u00a0last weekend highlighting his run for governor.<\/p>\n<p>Romero said that big names in Mahan\u2019s filings \u2014 and the amount he\u2019s pulled together so far \u2014 could bring him the attention he wouldn\u2019t normally have had.<\/p>\n<p>\u201cThat in and of itself makes the media take a candidate more seriously. That\u2019s when you hear questions such as, \u2018Are they the new frontrunner?\u2019\u201d Romero said. \u201cThere\u2019s a lot of positive press and attention and credibility a candidate gets from raising a lot of money quickly, especially for a late entry. But it also can mean there\u2019s a lot of pressure to perform, and you\u2019ve got a smaller runway to perform.\u201d<\/p>\n<p>American billionaire Tom Steyer \u2014 who has touted a progressive affordability platform \u2014 is still leading the pack with $38 million in fundraising as of Feb. 3. He\u2019s followed by conservative pundit Steve Hilton and former Democratic congresswoman Katie Porter, who are both hovering just under $6 million in fundraising.<\/p>\n<p>Other candidates in the governor\u2019s race include Riverside County Sheriff Chad Bianco has raised $3.8 million. Former Los Angeles Mayor Antonio Villaraigosa has raised $3.1 million. Former U.S. Secretary of Health and Human Services Xavier Becerra has raised $2.9 million. Former State Controller Betty Yee has raised $587,000 and California Superintendent of Public Instruction Tony Thurmond has raised $256,000.<\/p>\n<p>Whichever two candidates get the most votes in the June 2 primary will advance to the Nov. 3 election.<\/p>\n<p>Contact Brandon Pho at\u00a0brandon@sanjosespotlight.com\u00a0or @brandonphooo on X.<\/p>\n<p><a href=\"https:\/\/sanjosespotlight.com\/billionaire-techies-back-matt-mahans-california-governor-campaign\/\" type=\"link\" id=\"https:\/\/sanjosespotlight.com\/billionaire-techies-back-matt-mahans-california-governor-campaign\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">This story originally appeared in San Jos\u00e9 Spotlight.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Billionaires and tech moguls are spending mountains of cash to catapult\u00a0San Jose Mayor Matt Mahan to the front&hellip;\n","protected":false},"author":2,"featured_media":178471,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[40292,7,9,8,84758,20865,204,14624,5037,21149,71392,13,50575,88,36511,4377,84759],"class_list":{"0":"post-178470","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-california","8":"tag-billionaire-tax","9":"tag-california","10":"tag-california-headlines","11":"tag-california-news","12":"tag-campaign-donations","13":"tag-candidates","14":"tag-election","15":"tag-google","16":"tag-gov-gavin-newsom","17":"tag-mayor-matt-mahan","18":"tag-palantir","19":"tag-politics","20":"tag-roblox","21":"tag-san-jose","22":"tag-sergey-brin","23":"tag-tech-industry","24":"tag-ycombinator"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/178470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=178470"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/178470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/178471"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=178470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=178470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=178470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}