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Campaign Newsletter | May 2026
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Dear John,
California needs leadership that is ready on day one. Over the past three decades, I’ve built a record of delivering results at every level of government — from the San Francisco Board of Supervisors, to the State Assembly, to leading reform at the Board of Equalization, and now serving as your California State Treasurer.
Today, I oversee the financial engine of the world’s fourth-largest economy, managing more than $3 trillion in annual transactions while helping finance affordable housing, infrastructure, clean energy projects, and economic growth across our state.
That experience has helped build an extraordinary coalition that includes more than 600 elected officials, approximately 75% of the California State Legislature, and more than 50 labor unions across California.
Election Day is Tuesday, June 2nd , and ballots are arriving in mailboxes now. I am humbly asking for your vote for California Lieutenant Governor.
Watch my campaign ad [[link removed]] →
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🟦 CAMPAIGN MILESTONE
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Endorsement Momentum Continues Across California
This campaign is built on experience—and I have a record of delivering results:
* I have served at every level of government: local, legislative, and statewide
* Led major reform efforts to restore accountability in state government
* Managed California’s finances as State Treasurer, overseeing trillions in transactions annually
* Delivered results on housing, economic development, and clean energy investment
This record of leadership is why trusted voices across California continue stepping forward in support:
* I am proud to have the endorsement of the California Nurses Association
* I am supported by the United Nurses Associations of California / Union of Health Care Professionals (UNAC/UHCP)
* I have been endorsed by Thrive LA, which recognizes my proven leadership on economic growth, housing, and building stronger communities
From frontline healthcare workers to community organizations and local leaders, this growing coalition reflects a campaign grounded in experience, accountability, and delivering real results for Californians.
📌 View Full Endorsement List
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Watch some of our Endorsement Videos:
San Francisco Board of Supervisors President Rafael Mandelman - YouTube [[link removed]]
San Francisco Board of Supervisors Alan Wong - YouTube [[link removed]]
San Francisco Board of Supervisors Stephen Sherrill - YouTube [[link removed]]
🟦 FEATURED EVENT
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Get Out and Vote
This is the most important event of our campaign!
📬 Ballots began arriving: May 4
🗳️ Election Day: Tuesday, June 2
Make your plan to vote:
* Drop Box: Use an official secure ballot drop box near you
* In Person: Vote early at a vote center or on Election Day
* Vote by Mail: Fill out your ballot, sign the envelope, and return it (no postage required)
Ballots must be postmarked by June 2nd to be counted.
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Watch Fiona Ma’s Voter Guide Video [[link removed]]
READ THE CALIFORNIA VOTER GUIDE [[link removed]]
From the California Trail
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Over the past month, I’ve continued meeting with leaders, organizations, students, and communities across California focused on building opportunity and expanding access to success.
* I was honored to celebrate Asian American & Pacific Islander Heritage Month with the Ed Lee Democrats at “Makers, Shakers & Bakers,” recognizing the innovators, leaders, and community builders who continue Mayor Ed Lee’s legacy of service, inclusion, and opportunity for all
* I met with inspiring young leaders through the California Hispanic Chambers of Commerce CAPS Program , which has helped empower students and emerging professionals across California with leadership development, mentorship, and career pathways since 2004
* I helped kick off Milken Institute Global Conference week in Los Angeles, joining fellow state financial leaders for a discussion on managing public investment responsibly, strengthening accountability, and ensuring public capital creates real impact for communities
These conversations reflect what this campaign is about: preparing California for the future by investing in people, expanding opportunity, and bringing experienced leadership to the challenges ahead.
Throughout my career, I’ve believed the government should help create pathways to success—especially for young people, working families, and communities striving to build a better future.
Momentum and the Moment
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Momentum continues to grow across California as voters, community leaders, labor organizations, healthcare professionals, and Democratic clubs come together behind this campaign.
Over the past several weeks, Democratic leaders and organizations from across the state have continued building a broad coalition focused on experienced leadership, economic opportunity, and delivering real results for California communities.
I’m proud to have earned the support of working people across California, including the sole endorsement of the California Labor Federation, representing 2.3 million union members statewide, along with support from healthcare professionals, public safety organizations, Democratic clubs, and local leaders throughout the state. That coalition includes more than 600 elected officials, approximately 75% of the California State Legislature, and more than 50 labor unions across California.
As Lieutenant Governor Eleni Kounalakis said:
“There is no one running for this office who is more qualified for the job than State Treasurer Fiona Ma. ”
📰 Fiona Ma in the Media
My campaign for Lieutenant Governor continued to generate strong statewide visibility these past few weeks, earning attention from top media while highlighting my leadership as California State Treasurer on California’s economy, governance, and future growth.
* The East Bay Times and The Mercury News Endorsement: Elect Fiona Ma California's next lieutenant governor
California's lieutenant governors shape higher education, economic development and environmental policies, albeit often behind the scenes. READ MORE [[link removed]]

* The Bakersfield Californian - Our View: Voters pick top-two candidates in statewide races
The two strongest candidates to advance to the November runoff are Fiona Ma and Romero. READ MORE [[link removed]]
* California Treasurer Fiona Ma is Running for State Lieutenant Governor:
California Treasurer Fiona Ma, who is serving her second term as the state’s top banker, is running for lieutenant governor of California, the second-highest elected position in the state. READ MORE [[link removed]]
* California State Treasurer Fiona Ma Announces Public-Private Collaboration for New Disneyland License Plate Benefiting Children's Hospitals:
Leaders from Disneyland® Resort, the California Children's Hospital Association (CCHA) and the California Health Facilities Financing Authority (CHFFA), housed within the California State Treasurer's Office and chaired by California State Treasurer Fiona Ma, celebrate a new collaboration to raise funds for children's hospitals across the state through sales of a Disneyland-themed specialized license plate. READ MORE [[link removed]]
This month, I joined several stations across the Meruelo Media network to speak directly with listeners throughout California about affordability, economic opportunity, housing, and the importance of voting in the June 2nd election.
The conversations included appearances and outreach connected with:
* Power 106 [[link removed]]
* 93.5 KDAY
* Cali 93.9
* 95.5 KLOS
I’m grateful to the hosts, producers, and listeners who welcomed our campaign and helped share an important message as ballots arrive and Californians prepare to vote on June 2nd .
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* A glimpse into the world’s fourth largest economy: An interview with California State Treasurer Fiona Ma:
By touring the Cal State LA campus and various programs, California State Treasurer Fiona Ma was right in her element, out in the community and making sure everyone had access to the financial resources they needed. READ MORE [[link removed]]
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* Your guide to the California lieutenant governor’s race: long line to replace Eleni Kounalakis:
More than a dozen candidates are vying to become California’s next lieutenant governor. Lt. Gov. Eleni Kounalakis, the first woman to hold the position, is finishing her second term and cannot seek reelection. Among the notable candidates running to take her place are State Treasurer Fiona Ma. READ MORE [[link removed]]
* How California is Funding Their Entrepreneurs with State Treasurer Fiona Ma:
KBLA 1580 sat down with California's own State Treasurer, Fiona Ma, for a deep dive into the resources that can truly change the trajectory of your business. Did you know there are numerous state and federal programs designed to help you access capital, get expert consulting, and save for your future? Many business owners don't even know they exist. READ MORE [[link removed]]
🔥 Get Involved
Help Us Build the Momentum
If you’re ready to help move this campaign forward, here are a few ways you can get involved:
🟦 Volunteer
🟦 Donate
🟦 Share Our Campaign Message
🟦 Follow Us on Social Media
📌 Visit www.FionaMa.com [[link removed]] to get involved!
❤️ Thank You
Now, the campaign enters its most important phase.
📬 Ballots are arriving in mailboxes now.
🗳️ Election Day is Tuesday, June 2nd.
I’m asking for your vote—not based on what I promise to do, but on what I’ve already delivered.
Together, we can keep California moving forward.
With gratitude,
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Fiona Ma, CPA
California State Treasurer
Candidate for Lieutenant Governor 2026
🌐 www.FionaMa.com [[link removed]]
❤️DONATE❤️ [[link removed]]
Follow Fiona:
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Read my previous newsletters here [[link removed]] !
Paid for by Fiona Ma for Lieutenant Governor 2026, FPPC ID #1457360. Created and produced entirely on an in-house computer.
1032 Irving Street #908, San Francisco, CA 94122 United States
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