Former Oakland Mayor Libby Schaaf to run for state treasurer

Former Oakland Mayor Libby Schaaf has announced she’s running for state treasurer in 2026. Schaaf, who served as mayor from 2015 to 2023, aims to replace Fiona Ma, the current treasurer, who plans to run for lieutenant governor in 2026. “After a year of research and reflection, I know the California Treasurer’s job is the perfect fit for my experience and passions, and I have a vision using the office to advance issues like equity, housing, safety, climate, and education,” Schaaf said in a post Friday on X, formerly known Twitter.

The state treasurer oversees California’s assets and the finances of key public programs and projects, from affordable housing subsidies to teacher retirement funds. The treasurer is also the chairperson or a member of many state boards and commissions. Since leaving office early last year, Schaaf has been the interim executive director of Emerge California, a group that trains Democratic women leaders to run for office.

During her tenure, Schaaf made addressing the city’s dual homelessness and housing crises a top priority. While Oakland underwent a building boom over the past decade, high housing costs continue to strain many residents as its homeless population swelled. Another one of Schaaf’s main priorities, the Oakland A’s proposed waterfront ballpark and housing development near Jack London Square, fell apart last yaer when the team announced it was decamping for Las Vegas..