Former state Comptroller Betty Yee on Wednesday launched her campaign for governor of California in 2026, joining a crowded field of Democratic candidates nearly a year after she initially announced she planned to run for the office.
In an announcement video posted on social media, Yee emphasized her humble 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 resolve and strength to make California add more for all of us again.
Yee joins a list of Democrats with experience in state government but little statewide profile vying to succeed Gov. Gavin Newsom, who is serving his second and final term in office.
Lieutenant Governor Eleni Kounalakis was the first to announce her campaign last spring. California Supt. From General Instructions Tony Thurmond launched his show in September. Sen. Tony Atkins (D-San Diego), former Senate President Pro Tem, entered the race in January.
State Atty. Gen. Rob Bonta said he is considering joining the race, but has not officially joined the race. Rep. Katie Porter (D-Irvine), whose bid for U.S. Senate ended after finishing a distant third in the March 5 primary, is among a slew of other names mentioned in political circles as potential candidates.
In her campaign announcement, Yee told a compelling story about her upbringing, raised by Chinese immigrant parents along with her five siblings in a studio apartment behind the family's dry cleaning business in San Francisco.
“Our parents didn’t speak English, so I ran the books and dealt 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 came up short, we got a carton of milk or a loaf of bread for less. I've learned that when things get out of balance, many communities are left to fend for themselves, and sometimes even left behind.”
Yee's campaign website says she began overseeing the company's finances when she was 8 years old. She graduated from public schools, studied sociology at UC Berkeley and attended Golden Gate University for a master's degree in public administration.
Yee served as state budget director under former Gov. Gray Davis before winning a seat on the California State Board of Equalizations in 2006 and again in 2010. She was elected state comptroller in 2014. The following year she revealed that the Board of Equalizations was a failure. To properly handle the money you have collected and fail to collect outstanding debts. She said audits and investigations conducted by the Comptroller's Office found more than $4 billion in misused funds. She won her re-election bid in 2018.
Her budget expertise could appeal to California voters at a time when the state faces historic deficits. Budget projections indicate the next governor could enter a challenging fiscal environment if state revenues do not rebound.
Competing for support from many of the same donors could also pose a challenge for Lee and other Democrats. Kounalakis raised nearly $4 million for her campaign. Atkins raised about $2.5 million, while Thurmond received less than $1 million.
A 2022 Times report detailed how Yee provided behind-the-scenes advice to a politically connected company seeking a no-bid $600 million government contract to supply COVID-19 masks and raised questions about her involvement. The deal with Blue Flame Medical LLC was flagged as a potential fraud and the state was forced to refund its $457 million cash advance to the company.
Times staff writer Melody Gutierrez contributed to this report.
