Kounalakis

Kounalakis is well known in state politics. She is serving her final term as lieutenant governor, a largely ceremonial role that includes seats on various higher-education boards including the University of California Board of Regents and the California State University Board of Trustees.

A major Democratic donor, Kounalakis in 2023 launched a campaign to become California’s next governor before dropping out of the race and announcing in August 2025 she would run for state treasurer.

Kounalakis holds a master’s in business administration from UC Berkeley and is the daughter of Sacramento real estate magnate Angelo Tsakopolous. She spent 18 years working for AKT Development, the business her father founded, eventually becoming its president. In 2009, she was appointed to the U.S. ambassador post in Hungary by President Obama.

“I have been using my international experience serving the state as our representative for international trade and investment, which has a very heavy economic development piece to it,” she said this year.

Hawks is a retired businesswoman and a Republican activist. She has served as president of Palo Alto Republican Women Federated, been involved with the California Federation of Republican Women and has gathered signatures for the GOP-led voter ID measure, Proposition 39.

Hawks spent two decades working as an executive assistant at the Sacred Hearts School, a private Catholic school in the tony Silicon Valley town of Atherton, before her retirement in 2021. Before that, she worked in various human resources and office manager roles.

“I am a people person,” Hawks said on Assemblymember Carl DeMaio’s (R-San Diego) Reform California podcast. “I’ll get to know [the] rank-and-file in there, and I will garner their trust.”