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Gavin Newsom: “We have the fourth largest economy in the world, not the…”

Featuring: Gavin Newsom, Democratic | Governor of California

California Governor Gavin Newsom | Bloomberg Newsmaker Event

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

So make the case for us that Californians are better off than they were when you took office. Well, I don't know. 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 $405.6 billion output. 13.9% of the nation's manufacturing. (12:12–12:16)

CLAIM

Asserts that California has the fourth largest economy globally.

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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“Close to 5,000 federalized troops [were] on the streets of an American city last June.”
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“California stopped $135 billion of fraud just at the EDD department.”
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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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“We had 4,000 National Guard that were federalized [in June of last year].”
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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
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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.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 20:20-20:26
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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.”
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“This wrecking ball presidency is jaw dropping in real time.”
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“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
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California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 25:58-26:01
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California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 26:11-26:18
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California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 30:42-30:55
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California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 37:09-37:14
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California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 38:15-38:20
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