In summary

In the crowded primary for California controller, Yvonne Yiu is betting that spending millions of her own money is her ticket to the top two. But the track record of self-funding candidates in statewide races is mixed.

In most California elections, the race for state controller doesn’t get much attention.

But this year, it’s one of the hottest races. And the political dynamics make it unpredictable, potentially opening a path for a candidate who isn’t campaigning very much — but is spending millions of her own money.

Some strategists believe that Lanhee Chen, the sole Republican in the June 7 primary, is likely to nab one of the two spots on the November ballot. That would force four Democrats to battle for the second slot.

There’s Malia Cohen, chairperson of the Board of Supervisors, who has the California Democratic Party’s endorsement. There’s also Steve Glazer, a state senator from the Bay Area who’s pitching himself as an independent watchdog who will stand up to party leaders.

There’s Ron Galperin, who serves as controller of the city of Los Angeles — the “golden ballot designation,” he says, because he’s the only candidate with “controller” next to his name. He also says he’s well-known in Los Angeles, and hopes to capitalize on high voter turnout for the high-profile mayoral race.

And then there’s Yvonne Yiu, a current city council member and former mayor of Monterey Park (population 60,000) in the San Gabriel Valley. A longtime financial advisor, she has already funneled about $5.7 million of her own money into her campaign, including a $1.2 million donation last Thursday.

That’s 95% of her total fundraising of $6 million so far. The other four major contenders have raised about $7 million — combined.

The amount of cash she’s willing to spend on a down-ballot race has raised eyebrows — and makes her an outlier among all candidates running for state office in the primary.

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