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Gavin Newsom: “30 year olds never done worse 30 year old today than any…”

Featuring: Gavin Newsom, Democratic | Governor of California

California Governor Gavin Newsom | Bloomberg Newsmaker Event

Published January 30, 2026 | Video Starts at 31:52

That was Plutarch 2000 years ago. 10% of people own 2/3 of the wealth in the United States of America. This is not working. 30 year olds never done worse 30 year old today than any generation in history. This is not working. You've got to democratize our economy if you're going to save democracy. Absolutely. But this proposal by one local in SEIU I do not believe is. (31:52–31:59)

CLAIM

Asserts that today's 30-year-olds are worse off than any previous generation.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Gavin Newsom

“We had 700 active duty Marines that were not sent overseas to protect our interests, were sent to seize control of [Los Angeles].”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 00:50-00:59
“Close to 5,000 federalized troops [were] on the streets of an American city last June.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 01:01-01:09
“California stopped $135 billion of fraud just at the EDD department.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 08:55-08:58
“We have the fourth largest economy in the world, not the sixth.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 12:12-12:16
“While we had the largest tax rebate in US history at a state level 18.1 billion, almost 18.3 depending on how you categorize it.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 15:19-15:29
“Since 1874, we've installed about 105 gigawatts of electricity in the state. 30.2 Since I've been governor.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 16:07-16:19
“10% of people own 2/3 of the wealth in the United States of America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 31:47-31:51
“We had 4,000 National Guard that were federalized [in June of last year].”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 00:43-00:51
“These are the border patrol tactical units to Dodger Stadium, assembled there in order to chill free expression and free speech for diverse…”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 02:29-02:39
“Tom Homan, who was accused of a $50,000 bribe where charges disappeared.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 02:55-03:03
“He [Trump] refuses to meaningfully address the issue for recovery.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 03:33-21:37
“Pam Bondi said, we'll leave, but we want your voting rolls.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 03:45-03:49
“The last election, 2020, was rigged.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 04:03-04:06
“People are dying in the United States of America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 04:54-04:58
“California prosecuted 929 individuals, clawed back almost $6 billion [in fraud cases].”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 08:58-09:09
“California became the first [state] to pay by touch with EBT cards, saw an 83% decline in fraud last year.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 09:15-09:25
“We have more Fortune 500 companies than we did since 2019... Now it's 58.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 12:15-12:22
“California dominates $405.6 billion output, 13.9% of the nation's manufacturing.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 12:22-12:27
“$62.1 billion just as it relates to agriculture.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 12:29-12:32
“Venture capital, highest it's ever been. $106 billion. 68 billion last year. 106 this year.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 13:18-13:27
“California has a 0.9 to 1.2% higher unemployment rate consistently... Today it's 1.1% higher.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 13:32-13:56
“Now we have our first economic and workforce development plan in our state's history around regions rising together.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 14:09-14:16
“That's why we did the biggest expansion of any state in the United States history on child care subsidies.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 14:49-14:54
“That's why we have the most progressive rent controls of any state in America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 15:32-15:38
“One of the largest installed battery and solar farms in the world Darden in Fresno county was just approved 2,300 megawatts.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 16:22-16:30
“We tie executive compensation to performance on, on safety.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 17:30-17:35
“We also have the clawback in that, which I remind people of a receivership where the state can actually assert control statutorily.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 18:57-19:08
“There's been 2,981 permits that have been approved so far as of this week.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 20:20-20:26
“The state is asking on behalf of the American people that happen to reside in Southern California [for] $33.9 billion.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 21:37-22:02
“The cost of construction, which has gone up because of his [Trump's] tariffs and his mass deportations.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 21:39-21:45
“India just made a deal with the EU on tariffs. 20 years they've been talking about it.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 23:44-23:50
“This wrecking ball presidency is jaw dropping in real time.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 24:07-24:12
“Our economy was the enemy of the world. We continue from a global perspective, the share of GDP continue to outperform.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 25:05-25:12
“Representing the fourth largest economy in the world.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 25:58-26:01
“The federal government. But he'll Trump be known in years. He's got a few years left.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 26:11-26:18
“California has the most progressive tax structure in the United States of America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 29:28-29:32
“We have the highest progressive tax rate in the United States of America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 29:37-29:42
“The impact of a one time tax does not solve an ongoing structural challenge that has been exacerbated by the impacts of HR1.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 30:22-30:34
“You would have a windfall one time and then over the years you would see a significant reduction in taxes because taxpayers will move.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 30:42-30:55
“We rely on a very small number of people that allows us to do historic things.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 36:47-36:55
“We have a millionaires tax that also funds our Mental Health Services act.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 37:09-37:14
“53 lawsuits wildly successful in that space.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 38:15-38:20
“The west coast offense with governors of other Western states for health care, Reproductive Freedom alliance that we've organized.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 38:26-38:35
“California, as you know, is the first state to lead in terms of doing regulations for frontier models, large language models.”
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“Kathy Hochul mirrored a lot of what we did [in AI regulation].”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 41:01-41:07
“We've been leading an effort which we hope to unveil very shortly on ubc.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 41:37-41:42
“We provided state grants for prosecution, $267 million to 55 LEAs local law enforcement agencies for investigations and prosecutions.”
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“I signed the first bill in the country on unmasking for federal agencies for federal agents.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 44:01-44:09
“27% of us are foreign born.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 46:59-47:02
“Size of 21 state populations combined.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 47:02-47:06
“Number one in two way trade, number one in direct foreign investment.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 47:15-47:19
“40% of the goods movement down in LA and Long Beach.”
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