Will a billionaire Republican run for California governor?

January 16, 2017

After a billionaire Republican completed an improbable run to the White House, another billionaire Republican is considering a possible bid for governor of Democrat-controlled California. [Politico]

Peter Thiel, a libertarian-leaning gay Republican, is a co-founder of PayPal and was an early investor in Facebook. He is worth an estimated $2.7 billion and is ranked 73rd on Forbes’ list of the world’s most powerful people. Thiel is a member of the steering committee of the Bilderberg Group, a very private organization of business and political elites from Europe and North America.

During the recent presidential campaign, Thiel was a vocal supporter of President-elect Donald Trump, and he is now a member of Trump’s transition team. That would seemingly place Thiel in an odd position, since Trump’s election triggered secession talk in California.

In an interview last week with the New York Times, Thiel joked that he would be fine with California seceding.

“I think it would be good for California, good for the rest of the country. It would help Mr. Trump’s re-election campaign.”

Thiel has reportedly been discussing a run for the governor’s mansion with a small circle of advisers, including Rob Morrow, of San Francisco-based investment management firm Clarium Capital, who has emerged as Thiel’s political consigliere. Those who have been in touch with Thiel are skeptical he will enter the governor’s race, but the billionaire investor has yet to rule out a bid, and people around him are continuing to discuss it.

Currently, the Republican Party sees opportunity in running outsider candidates nationwide, particularly ones who have business backgrounds.

“Republicans have had great success at both the state and federal level in recent years electing candidates who had backgrounds in business but who were political outsiders,” said Phil Cox, a former Republican Governors Association executive director. “With Trump’s victory, we’re going to see even more nontraditional candidates.”

Democratic billionaire Tom Steyer is also viewed as a possible contender in the 2018 governor’s race. The Democratic field already includes Lt. Gov. Gavin Newsom, former Los Angeles Mayor Antonio Villaraigosa and state Treasurer John Chiang.

Peculiarly, Thiel has already contributed more than $56,000 to Newsom’s 2018 gubernatorial campaign, according to state campaign finance records.