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Gavin Newsom: “California dominates $405.6 billion output, 13.9% of the…”

Featuring: Gavin Newsom, Democratic | Governor of California

California Governor Gavin Newsom | Bloomberg Newsmaker Event

Published January 30, 2026 | Video Starts at 12:22

We have the fourth largest economy in the world, not the sixth. We have more Fortune 500 companies than we did since 2019 by the way. Bloomberg data 49. Now it's 58. We dominate California dominates $405.6 billion output, 13.9% of the nation's manufacturing. No one comes close. $62.1 billion. Just as it relates to agriculture. On the issue of housing, there's no state. (12:22–12:27)

CLAIM

Asserts that California contributes $405.6 billion in output and 13.9% of U.S. manufacturing.

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

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“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.”
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“Since 1874, we've installed about 105 gigawatts of electricity in the state. 30.2 Since I've been governor.”
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“10% of people own 2/3 of the wealth in the United States of America.”
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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
“$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.”
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“That's why we did the biggest expansion of any state in the United States history on child care subsidies.”
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“That's why we have the most progressive rent controls of any state in America.”
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“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
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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.”
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“The state is asking on behalf of the American people that happen to reside in Southern California [for] $33.9 billion.”
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“India just made a deal with the EU on tariffs. 20 years they've been talking about it.”
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“This wrecking ball presidency is jaw dropping in real time.”
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