Palihapitiya supports an effort to force a recall vote for current California Governor Gavin Newsom which would lead to a special election later in 2021.
Some California residents have been displeased with Newsom’s performance, especially when it comes to a slower-than-expected vaccine rollout.
Chamath Palihapitiya, billionaire investor and CEO of venture capital firm Social Capital, announced new details about a potential run for California governor on Tuesday.
Palihapitiya could be running for the 2022 Gubernatorial race or potentially for a special election, though outside of his tweets and website there has not been any official announcement. It does not appear that any political forms have been submitted yet by Palihapitiya to the California Secretary of State.
While current California Governor Newsom has not yet confirmed plans to run for governor again in 2022, in his initial tweet Palihapitiya showed his support for a movement that has been sweeping Silicon Valley â€” Rescue California.
Palihapitiya also focuses on plans for education, including free school vouchers that allow students to pick any school they want to attend, a plan to alleviate student debt in California, as well as a minimum $US70,000 salary for teachers.
With his tech background at Facebook and as a prominent investor, Palihapitiya is interested in maintaining California’s reputation as a technology hub, especially as more people have started to move out of the Bay Area.
“Let’s make California the global centre of all tech & climate jobs by realigning our incentives rather than pushing them away,” Palihapitiya writes on his website.
He also proposes providing $US2,000 for every child born in California in order to encourage people to stay and build roots in the state.
Palihapitiya was not immediately available to respond to requests for comment from Insider.
As a billionaire investor dubbed the next Warren Buffet by some, Palihapitiya said on Twitter if he becomes governor he plans to keep investing and running his company, Social Capital, though he will donate his profits to California pensions.
I’ll keep doing it but donate my profits to California pensions.