Seema Mehta, Phil Willon
June 6, 2014

GOP gubernatorial candidate Neel Kashkari, who struggled to raise money in his primary bid, said Friday he would need to raise at least $20 million to compete with Gov. Jerry Brown in the fall.

“It’s going to cost a lot. We’re going to have to raise tens of millions of dollars, would be my guess, to really compete with Jerry Brown,” Kashkari said on CNBC.

Brown, the Democratic incumbent, has raised $21 million in his bid for an unprecedented fourth term.

In the primary, Kashkari, a first-time candidate, initially said he hoped to raise as much as $10 million and did not plan to put any of his own wealth into his run. He ended up raising $2.1 million and putting $2 million of his money into his primary effort, funds that were spent on television ads and mailers that many credit for his victory Tuesday over Assemblyman Tim Donnelly (R-Twin Peaks) for a spot on the November ballot.

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