GOP gubernatorial candidate Steve Poizner is investing $15 million of his own money in his campaign, boosting a lagging candidacy that has trailed rival Meg Whitman in the polls and fundraising.
Poizner, the former CEO of the Silicon Valley firm SnapTrack, which was purchased for $1 billion by Qualcomm, has been under pressure to raise money or give much of his own fortune, estimated in the hundreds of millions of dollars, to his own campaign. Whitman, the former CEO of online auction firm eBay and a billionaire, has contributed $19 million of her own money to her campaign and raised millions more.
Poizner's $15 million donation boosts the amount he's given to his campaign to $19 million, according to communications director Jarrod Agen in an e-mail. Poizner is the state's insurance commissioner.
The third GOP candidate Tom Campbell trails both Poizner and Whitman in fundraising.
Poizner released this statement tonight:
"California is in deep trouble and I truly believe there could be no better time to run for Governor. We have a once in a generation opportunity to really fix and reform our state. As we look towards 2010, I know the Republican primary will be won based on which candidate presents clear, specific, and conservative solutions for solving California's economic problems. I will communicate my message of bold 10% tax cuts, 10% reduction in state spending, creating a $10 billion rainy day fund, and I will bring our welfare spending into line with the national average or better. We have 30% of welfare recipients and only 12% of population. That's change for the better and a message that I am confident will resonate with Republican voters."