Eleni Kounalakis, a Democrat, is running for California State Treasurer in the November 2026 general election against Republican Jennifer Hawks, after ending an earlier campaign for Governor to run for the open Treasurer’s seat instead. Term-limited as Lieutenant Governor after two terms, Kounalakis previously served as U.S. Ambassador to Hungary and led her family’s housing development business before entering politics. She has campaigned on fiscal responsibility, economic opportunity, and strategic state investment, pointing to her record on the University of California Board of Regents and California State University Board of Trustees, where she says she regularly voted against tuition increases. She has been endorsed by Hillary Clinton, Nancy Pelosi, Kamala Harris, Governor Gavin Newsom, outgoing Treasurer Fiona Ma, and several major newspaper editorial boards. Her Republican opponent, Jennifer Hawks, is a retired Bay Area businesswoman and Republican women’s club leader.
