A 'Golden State Fund' Proposed: California First Partner Jennifer Siebel Newsom Hosts Her Final Gender Equity Summit and Releases a Women's Wealth Roadmap
First Partner Jennifer Siebel Newsom, in collaboration with the California Partners Project, hosted her fourth and final Gender Equity Summit in Sacramento, focused on closing the women's wealth gap and the connection between economic mobility and women's health and safety, the Governor's Office announced on October 30. At the summit she unveiled the California Women's Wealth Advisory Council's roadmap to expand women's access to capital.
"When women have the resources and opportunities to build wealth, they have greater freedom to shape their futures, care for their families, and invest in their health and well-being," Siebel Newsom said. Governor Gavin Newsom said California is committed to building an economy where every woman has the opportunity to thrive, and credited her leadership in advancing gender equity.
The roadmap, Building Women's Wealth in California: A Roadmap for Action, recommends a proposed Golden State Fund led within the private sector; more donor-advised funds at community foundations directed toward women and women-led initiatives; a statewide Resource Hub and an annual California Innovation Showcase connecting founders with investors; easier access to CalKIDS accounts for families; and strengthening existing state savings, financial-education, and small-business programs such as CalKIDS, CalSavers, and CalOSBA.
According to the California Chamber of Commerce figures cited by the Governor's Office, women currently own nearly 40 percent of all businesses in California, adding about $580 billion in revenue between 2019 and 2023, yet women receive only a fraction of venture funding and remain underrepresented in asset management. The annual Gender Equity Summit began in 2023, with themes of Women, Wealth & Power; Health & Safety; Tech & Well-Being; and this year's Women's Wealth & Well-being.
Source: GSM · USA (original Chinese edition)
Photo: 图：位于萨克拉门托的加州州议会大厦（素材库 california 固定图）。GSM 素材库。 / The California State Capitol in Sacramento. GSM asset library (california pack).
