In a financial statement Monday, Kashkari reported raising a total of $1.3 million from Jan. 1 to March 17, a figure that includes the strong numbers Kashkari posted soon after entering the race. His initial fundraising came after a year of courting potential donors.
Kashkari reported spending $430,347 on campaign operations and an ending cash balance of $903,478, a fraction of the nearly $20 million Gov. Jerry Brown has on hand.
Yet Kashkari, a former U.S. Treasury Department official, remains far better-funded than his Republican rival, Tim Donnelly, more than doubling his fundraising effort so far. Donnelly, a Twin Peaks assemblyman, has not yet filed a campaign statement due Monday but has previously reported raising about $500,000.
Kashkari's fundraising draws heavily from the financial industry, including former Treasury Secretary Henry Paulson, who gave $27,200, and several employees of Goldman Sachs, where Kashkari previously worked. Media mogul Rupert Murdoch contributed $5,000.
PHOTO: Republican gubernatorial candidate Neel Kashkari speaks with reporters at the California Republican Party's biannual convention in Burlingame on March 15, 2014. The Sacramento Bee/David Siders