Republican gubernatorial candidate Neel Kashkari announced Wednesday he has raised $976,000 in the first two weeks of his campaign, and said there will be a lot more coming soon.
Practically none of that sum had been reported to the Secretary of State’s office by Wednesday afternoon, so it was not yet possible to assess from whom or how many the contributions came. (See updates below.)
But if the figure is accurate – and it’s hard to imagine a candidate who would lie about such a thing, knowing it’ll all have to be reported in detail – it confirms suspicions that Kaskhari, 40, of Laguna Beach, is the man for whom the GOP’s deep pockets have been waiting.
Neither fellow Republican candidate Tim Donnelly nor Abel Maldonado, who dropped out of the race last month, have come anywhere close to this kind of number. After campaigning hard for months, Donnelly had only about $18,000 in unencumbered cash banked by the year’s end.
Pat Melton, Kashkari’s campaign manager, said in a news release that the former assistant U.S. Treasury secretary and asset manager “is extremely grateful to all the supporters who have helped get his campaign off to such a strong start. Clearly, there is broad support for Neel’s platform of creating good jobs and giving every kid a quality education and for his commitment to restoring the Republican Party as the party of economic opportunity.”
Gov. Jerry Brown’s campaign had about $17 million banked at the start of this year.
“There’s no doubt that Neel faces a significant financial disadvantage against Governor Brown, who has already raised millions from special interests that benefit from the status quo,” Melton added. “But with 24 percent of Californians living in poverty and 18 percent of our state struggling for work, the truth remains: The status quo is unacceptable. Our campaign’s robust fundraising in these first two weeks underscores Neel’s strength as a candidate, and it will help ensure that we have the resources necessary to share with voters his vision for turning California around.”
UPDATE @ 4:33 P.M.: A copy of Kashkari’s filing I’ve just obtained shows he received $27,200 each – the maximum contribution allowed by law – from his former boss, former U.S. Treasury Secretary Hank Paulson, and Paulson’s wife, Wendy, of Chicago; from each of his parents, Dr. Sheila Kashkari and professor Chaman Kashkari, of Stow, Ohio; from Red Mountain Group CEO Michael Mugel and his wife, Coleen, of Santa Ana; from Anthos Capital co-founder Eff Martin and his wife, Patricia, of Woodside; and from Goldman Sachs executive George Lee II of Tiburon. Kashkari worked at Goldman Sachs before following Paulson to the Treasury Department; several other Goldman Sachs employyes and executives also have contributed to his campaign.
UPDATE @ 5:10 P.M.: Kashkari’s report is now available on the Secretary of State’s website.