Libby Schaaf, former Oakland mayor, announces 2026 run for California treasurer
OAKLAND – Former Oakland Mayor Libby Schaaf announced Thursday that she has launched a campaign to run for California state treasurer in 2026.
"I know how to couple progressive values with fiscal responsibility," Schaaf said in a statement. "As California's Treasurer, I'll bring my experience and passion to invest in a safe and sustainable future for all Californians."
A native of Oakland, Schaaf was first elected to the Oakland City Council in 2010. She was elected as the 50th mayor of Oakland in 2014 and won re-election by double-digits in 2018.
In her statement, Schaaf noted multiple accomplishments as mayor, including the creation of the city's first rainy day fund and raising Oakland's credit rating to its highest on record.
Schaaf's tenure was marked by contrasts. While the homicide rate dropped during her first five years in office, rates of gun violence and murders rose in her final years as mayor. Along with crime, housing and homelessness continued to be persistent problems.
"You know, I always tell little kids who ask, 'What's it like being the mayor of Oakland?' it's the highest highs and lowest lows," Schaaf said in December 2022, during her final news conference as mayor. "There are moments of just unbelievable joy, like riding in that first Warriors' victory parade and seeing just the beauty of Oakland on full display. And there are moments of unbelievable tragedy and grief, like presiding over the Ghost Ship tragedy."
After leaving office, Schaaf served as the Department of Housing and Urban Development's appointee to the Metropolitan Transpiration Commission and Bay Area Housing Finance Authority. Schaaf has also taught at the UC Berkeley School of Public Policy.
In her campaign announcement, Schaaf noted multiple endorsements, including from former Sen. Barbara Boxer, state Sen. Scott Wiener (D-San Francisco) and Berkeley Mayor Jesse Arreguin.
If elected, Schaaf would succeed current Treasurer Fiona Ma, who is running for Lieutenant Governor in 2026.
