California’s first woman elected lieutenant governor and the first Greek American woman to serve as a U.S. ambassador, Eleni Kounalakis has built a career that moves from boardroom to embassy to statehouse. She is now turning that blend of diplomacy, business experience, and Hellenic heritage toward a 2026 run for California state treasurer.
From Arcadia to California: A Family Story of Grit
Eleni Kounalakis was born on March 3, 1966, in Sacramento, the daughter of Greek immigrants whose lives captured the promise of the American dream. Her father, Angelo Tsakopoulos, left the mountain village of Rizes in Arcadia in 1951 at age 15 and arrived in the United States with little more than determination. He worked as a farmhand and even as a waiter at California’s Governor’s Mansion while in college before building AKT Development into one of the state’s leading real estate companies.
Her grandmother never learned to read or write, a reminder of how education can transform a family in a single generation. Summer trips to Greece, with village bells, the scent of pine, and stories of post-war recovery, shaped Kounalakis’ belief that democracy is fragile and must be protected. Greek Orthodox traditions and the value of philotimo, meaning honor and responsibility, became the foundation of her public life.
Soft Power in Budapest: The First Greek-American Woman Ambassador
President Barack Obama appointed Kounalakis U.S. Ambassador to Hungary in January 2010, and she served from January 11, 2010, to July 20, 2013, a turbulent period as Hungary slid toward illiberal politics.
Kounalakis practiced what diplomats call “soft power”, hosting dinner parties where conversation flowed from literature to policy and immersing herself in Hungarian culture, reading Nobel laureate Imre Kertész on train platforms to better understand a nation wrestling with its past. Her memoir, Madam Ambassador, captures those years and the lesson she carried home: democracy survives only through constant vigilance and human connection.
Breaking New Ground in Sacramento Politics
Back in California, Kounalakis ran for lieutenant governor and was elected in November 2018 and sworn in January 2019 as the state’s 50th lieutenant governor, the first woman ever chosen for the office.
The job places her at the heart of state governance, presiding over the State Senate when needed, casting tie-breaking votes, and serving as a voting member of both the University of California Board of Regents and the California State University Board of Trustees.
Her signature priority has been higher education access. She pushed for more funding and easier transfer pathways between community colleges and four-year universities, convinced that first-generation students deserve the same ladder of opportunity that lifted her own family. During the COVID-19 pandemic, she coordinated closely with local health officers, an experience that deepened her belief that strong institutions are the backbone of democracy.
Standing Up to Trump and Defending the Constitution
Kounalakis gained national attention when she urged Secretary of State Shirley Weber on December 20, 2023, to examine whether Donald Trump should be barred from California’s 2024 presidential primary ballot under the 14th Amendment’s insurrection clause, citing his role in the January 6 attack on the U.S. Capitol. Weber ultimately declined to pursue disqualification, and no court challenge followed, but Kounalakis’s call, coming one day after the Colorado Supreme Court ruling, sparked a statewide debate on constitutional accountability.
Her criticism of Trump was not new. She condemned his 2017 withdrawal from the Paris Climate Agreement as a blow to global climate cooperation, urged investigations of trade practices she said hurt California farmers, spoke out against aggressive ICE raids in Los Angeles, and highlighted the human cost of family separations at the border.
These stands drew fierce pushback: harassment campaigns, doxxing, and even a swatting incident at her family home. Kounalakis answered that her actions were rooted not in partisanship but in a nonpartisan duty to defend democratic norms.
Shifting Gears: Kounalakis’ 2026 State Treasurer Bid
Originally a contender for the 2026 governor’s race, Kounalakis shifted course in August 2025 and launched a campaign for California State Treasurer. The move surprised some observers but revealed her strategic sense because the treasurer’s office offers a direct platform to put her business background and diplomatic experience to work on fiscal and infrastructure issues.
Her platform highlights three priorities:
- Affordable Housing Finance – creating a state-backed bond underwriter to reduce borrowing costs for mixed-income housing projects
- Clean Energy Investment – establishing a “Green Bank” inside the treasurer’s office to direct pension and public investment funds into renewable energy and climate resilience infrastructure
- Small Business Access to Capital – expanding the California Infrastructure and Economic Development Bank’s microloan and loan guarantee programs for minority and women-owned businesses
Early endorsements reflect her broad reach: Central Valley farm bureaus that value her work on trade and tariff issues, the California School Employees Association for her higher education and local schools advocacy, and several county treasurers and former state controllers impressed by her fiscal credentials.
Her campaign finance picture is more nuanced than headlines suggest. While she reported about $4.6 million on hand from her earlier governor account, filings show she raised only roughly $107,000 in early 2025, a strong war chest but a slower fundraising pace than her initial run for governor.
Through 2025, she has continued to speak out on statewide fiscal and infrastructure issues, keeping climate resilience and disaster preparedness on her policy agenda.
This recalibrated treasurer campaign positions her not only as a steward of the state’s coffers but as a policy entrepreneur capable of blending her diplomatic, business, and legislative experience to tackle California’s fiscal and infrastructure challenges.
Policy Priorities: Education, Climate, and Economic Growth
Across all of her roles, Kounalakis has kept a consistent focus on higher education, renewable energy, and trade. She argues that accessible universities remain the surest ladder of opportunity for first-generation students. She has championed state investment in renewable energy and coastal protection, seeing climate resilience as both environmental necessity and economic opportunity.
Drawing on her ambassador experience and international networks, she has also worked to attract trade and investment that position California as a global hub for clean technology and agricultural exports.
Greek-American Influence on the National Stage
Kounalakis belongs to a growing cohort of roughly forty-two Greek American elected officials nationwide. Her rise carries that tradition westward into a state that shapes global debates on climate, technology, and trade.
Her model of civic engagement blends grassroots organizing with international networking, showing how modern ethnic communities can leverage global connections while remaining rooted in local politics. Her emphasis on educational philanthropy and cultural preservation provides a template for how successful Greek Americans can give back to their communities while strengthening democratic institutions.
Looking Ahead: A New Chapter in Civic Leadership
Whether Kounalakis remains in Sacramento or seeks higher office, her career embodies the modern Greek American story: rooted in immigrant perseverance, shaped by education and public service, and committed to the principle that democracy must be both cherished and defended.
Her journey from Madam Ambassador to California’s lieutenant governor demonstrates how the Greek diaspora continues to contribute to American civic life while adapting to contemporary political realities. Her combination of business acumen, diplomatic experience, and electoral success positions her as a model for a new generation of leaders ready to meet twenty-first-century challenges.