Governor Newsom expands financial literacy in schools and wealth-building access for women

Closing the gender wealth gap

The executive order Governor Newsom signed today will:

• Launch a statewide effort to expand women’s access to capital, financial education, and wealth-building opportunities across California.
•  Build on programs like CalKIDS and CalSavers to strengthen financial literacy, savings, and long-term financial security for families.
•  Mobilize investors, philanthropists, and business leaders to identify practical ways to move more capital to women entrepreneurs and women-led investment funds.
• Direct state leaders to examine how existing financial systems and partnerships can expand access to capital and strengthen pathways to entrepreneurship and investment.
• Explore the feasibility of a California-anchored investment vehicle to attract philanthropic and private capital to support innovation, entrepreneurship, and long-term wealth-building in the state.

“Women are vital to every facet of our economy, and it is imperative that we invest in their full potential, as entrepreneurs, managers of capital, and economic decision-makers,” said Katherine Rice, Co-Chair of the California Women’s Wealth Advisory Council and Partner at GingerBread Capital. “We applaud Governor Newsom and the First Partner for championing this executive order, which creates a powerful framework for expanding visibility and unlocking new investment strategies that support women and families across California. This initiative positions California as a model for the nation in advancing a more equitable future where women fully participate as leaders in building stronger communities and a more resilient economy.”

Expanding economic pathways for women

The United States is entering the largest intergenerational wealth transfer in modern history, with an estimated $84 trillion-$124 trillion expected to change hands over the next two decades. California is home to a dynamic venture ecosystem, and a global innovation economy, which will play a central role in how that capital moves.

Women continue to face barriers to wealth creation. They receive a fraction of venture funding, remain underrepresented in asset management, and hold a smaller share of total business and household wealth. By designing financial systems that are inclusive from the start, California aims to model a more resilient and equitable economy.