Newsom Highlights California Economy: Revenues $7.7 Billion Above Forecast, $4.5 Trillion Economy
California Governor Gavin Newsom on November 10 highlighted new state economic figures: revenues from California's top three sources have come in $7.7 billion higher than projected since April, and the world's fourth-largest economy has reached $4.5 trillion, up more than 50%, or $1.5 trillion, since he took office. The governor's office also noted voters' recent passage of Proposition 2, placed on the ballot by the governor and the legislature, which will help the state save more during economic booms.
As of August 2026, $366 billion in venture capital had flowed to California companies, more than three times the other 49 states combined; 75% of U.S. startup funding this year, $385 billion year to date, went to California companies; more than half of America's unicorns are headquartered in California, and nine California companies became unicorns in September alone. California companies drove more than 40% of the growth in value of U.S. publicly traded equities, the office said.
Newsom said California's economy continues to lead, with strong revenues, job growth and thriving small businesses.
(Source: Office of the Governor of California)
Source: Office of the Governor of California
Published by GSM · USA (original Chinese edition)
Photo: 图：州长纽森在州长讲台前举行住房新闻发布会（身后美国旗与加州旗、讲台州长徽记）。Office of the Governor of California（加州州长办公室） 摄，Public domain，经 Wikimedia Commons。 / Photo: 州长纽森在州长讲台前举行住房新闻发布会（身后美国旗与加州旗、讲台州长徽记）. Photo by Office of the Governor of California（加州州长办公室）, Public domain, via Wikimedia Commons.
