September 16, 2025

Ethan Penner Announces Independent Candidacy for Governor of California

Huntington Beach, California, September 16, 2025

News Summary

Ethan Penner, a significant player in commercial property financing, has declared his independent candidacy for Governor of California at the Future Proof Festival. With a focus on tax cuts, homelessness, and improving the business climate, he seeks to appeal to voters dissatisfied with current leadership while offering a middle ground between Republican and Democratic ideologies. His announcement has sparked interest in the competitive race for governor as California faces pressing issues.

California – Ethan Penner, a prominent figure in the commercial property financing sector, has officially announced his independent candidacy for Governor of California. The 64-year-old aims to attract voters who are disenchanted with the state’s long-standing Democratic leadership while finding a middle ground that does not fully align with Republican ideals. He made this announcement during the Future Proof Festival in Huntington Beach, CA, which drew thousands of attendees.

Penner’s campaign centers on a platform that promises significant reforms in several key areas, including:

Tax Cuts and Regulatory Reduction: Penner advocates for lower taxes and less regulatory burden to create a more favorable business climate in California.
Homelessness: Addressing the pervasive homeless crisis is a priority for Penner, who believes pragmatic solutions are necessary to create change.
Business Climate Enhancement: Penner is determined to improve the business environment, signaling a focus on policies that encourage investment and economic growth.

In his announcement, Penner described California as being at a “crossroads,” highlighting pressing issues such as families and businesses leaving the state, escalating homelessness, and the need to reform heavy tax and regulatory conditions. His experience in business and finance informs his commitment to delivering solutions that respond to these challenges.

Penner’s independent status is presented as a unique approach to bridging divides within the community. He underscores his ambition to enact reforms that will benefit future generations of Californians. His credibility as a candidate is bolstered by his extensive background, which includes publishing a weekly newsletter and authoring two books.

Academically, Penner contributes to the education of future business leaders by teaching graduate-level courses at the University of Southern California’s Marshall School of Business and Pepperdine University. His mentorship focuses on fostering skills and knowledge in upcoming business professionals.

Penner’s career achievements are notable—he began in the home mortgage sector and eventually played a critical role in developing the Commercial Mortgage-Backed Securities (CMBS) market during his tenure with Nomura Securities in the 1990s. In 2015, he founded Mosaic Real Estate Investments and recently co-founded Reven Office REIT in January 2024, targeting the potential to raise $1 billion for office property owners and address distressed office debt issues.

Penner’s candidacy also places him in stark opposition to the current governmental strategies addressing a variety of pressing challenges, including wildfire management, skyrocketing living costs, and the ongoing issue of resident outmigration. The political landscape in California is already shaping up to be competitive, with notable official Democratic candidates such as Xavier Becerra, Eleni Kounalakis, Katie Porter, Antonio Villaraigosa, and Betty Yee vying for the position. Incumbent Governor Gavin Newsom is term-limited, further opening the race.

All candidates must officially file by early March 2026 in order to participate in the primary election scheduled for June 2, 2026.

Frequently Asked Questions

Who is Ethan Penner?

Ethan Penner is an independent candidate for Governor of California, known for his contributions to the commercial real estate finance industry and teaching at academic institutions.

What is Penner’s campaign platform?

His platform includes proposals for cutting taxes, reducing regulations, addressing homelessness, and enhancing California’s business climate.

What experience does Ethan Penner have?

Penner has a distinguished career in commercial property financing and is recognized as a pioneer of the CMBS market. He has also served as an educator and mentor to business students.

What are the other candidates in the California governor race?

Notable Democratic candidates include Xavier Becerra, Eleni Kounalakis, Katie Porter, Antonio Villaraigosa, and Betty Yee. The current governor, Gavin Newsom, is term-limited.