Democratic Donor Doubts Newsom's 2028 Chances

Billionaire John Morgan says California governor's presidential ambitions are "dead in the water"

Feb. 23, 2026 at 10:45pm

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Democratic mega-donor John Morgan has publicly criticized California Governor Gavin Newsom, saying his presidential ambitions for 2028 are "dead in the water." Morgan's comments signal growing doubts within the Democratic party about Newsom's viability as a national candidate, with concerns over California's challenges under his leadership including homelessness, crime, and budget deficits.

Why it matters

Newsom has long been seen as a rising star in the Democratic party and a potential successor to President Biden, but Morgan's critique suggests even influential donors are skeptical about Newsom's ability to sell California's progressive policies nationally. This could signal a broader reckoning within the party about the disconnect between Democratic rhetoric and the real-world outcomes in states like California.

The details

Morgan, a longtime Democratic donor, argued that Newsom cannot successfully campaign on California's record, which he says is marked by issues like homelessness, crime, and budget problems. The article notes that Newsom has governed during the "unraveling" of California's "California Dream" image, with the state facing an exodus of residents and businesses. The author suggests Newsom's challenges reflect a broader Democratic resistance to self-reflection on failed policies.

  • Morgan's critique was delivered in February 2026.

The players

John Morgan

A Democratic mega-donor who has historically supported left-leaning causes, but is now publicly criticizing California Governor Gavin Newsom's presidential ambitions.

Gavin Newsom

The Democratic governor of California, who has long been seen as a rising star in the party and a potential 2028 presidential candidate.

Donald Trump

The former Republican president, whose critiques of Newsom and California are cited as resonating with voters due to their focus on measurable outcomes rather than rhetoric.

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What they’re saying

“Newsom's presidential ambitions are, in his words, 'dead in the water.'”

— John Morgan, Democratic mega-donor

The takeaway

Morgan's criticism of Newsom exposes a deeper fracture within the Democratic party, as donors and activists increasingly operate in separate realities. While activists prioritize ideological purity, donors are more focused on electability - and Morgan's remarks suggest even influential Democratic donors are skeptical about Newsom's ability to sell California's progressive policies nationally.