Gavin Newsom Reflects on California's Changing Landscape

Governor discusses exodus of wealthy, Trump's presidency, and 'The Rule of Don'

Jan. 29, 2026 at 8:23pm by Ben Kaplan

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In a recent conversation with Bloomberg, California Governor Gavin Newsom discussed a range of topics impacting the state, including the exodus of the wealthy, the impact of former President Trump's 'wrecking ball' presidency, and the concept of 'The Rule of Don' that has emerged in the state's politics.

Why it matters

As the leader of the nation's most populous and economically powerful state, Newsom's insights provide a unique perspective on the major forces shaping California's future, from demographic shifts to the lingering effects of divisive national politics.

The details

Newsom acknowledged the exodus of some of California's wealthiest residents, citing the state's high taxes and cost of living as factors driving the migration. He also reflected on the impact of Trump's presidency, describing it as a 'wrecking ball' that exacerbated political divisions and eroded trust in institutions. Additionally, Newsom discussed the rise of 'The Rule of Don,' a term he used to describe the growing influence of wealthy individuals and special interests in shaping the state's policies and priorities.

  • The conversation with Bloomberg took place on January 30, 2026.

The players

Gavin Newsom

The current Governor of California, who has served in the role since 2019.

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What they’re saying

“I'm a milk carton with a sell-by date. The future is uncertain, and I have to confront that reality every day.”

— Gavin Newsom, Governor of California (Bloomberg)

The takeaway

Newsom's candid reflections on the challenges facing California, from the exodus of the wealthy to the lingering effects of divisive national politics, provide a sobering assessment of the state's evolving landscape and the need for bold leadership to address these complex issues.