Gabriel Esparza

Gabriel Esparza

North Carolina Director of Administration

Tenure

Present officeholder

Elections and appointments

Last election

March 5, 2024

Education

Bachelor's

Stanford University, 1994

Graduate

Harvard Business School, 2000

Personal

Birthplace

Ann Arbor, Mich.

Profession

Government administration

Contact

Official website

Campaign website

Campaign Facebook

Campaign Twitter

Campaign Instagram

Personal LinkedIn

Gabriel Esparza is an officeholder of the North Carolina Director of Administration.

Esparza (Democratic Party) ran for election for North Carolina Treasurer. He lost in the Democratic primary on March 5, 2024.

Esparza completed Ballotpedia's Candidate Connection survey in 2024. Click here to read the survey answers.

Biography

Gabriel Esparza lives in Charlotte, North Carolina. Esparza earned a B.A. in international relations and psychology from Stanford University and an M.B.A. from Harvard Business School. His career experience includes working at the Walt Disney Company, at American Express, and then as an angel investor and a senior operating executive for a startup company, RapidSOS. He also worked as a senior official in the U.S. Small Business Administration's Office of International Trade. Esparza served for nine years as a public official on the Board of Civil Service Commissioners.

Elections

2024

See also: North Carolina Treasurer election, 2024

General election

General election for North Carolina Treasurer

Brad Briner defeated Wesley Harris in the general election for North Carolina Treasurer on November 5, 2024.

		Candidate	%	Votes
✔		Brad Briner (R)	52.4	2,900,059
		Wesley Harris (D)	47.6	2,629,444

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	There were no incumbents in this race. The results have been certified. Source	Total votes: 5,529,503
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
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Democratic primary election

Democratic primary for North Carolina Treasurer

Wesley Harris defeated Gabriel Esparza in the Democratic primary for North Carolina Treasurer on March 5, 2024.

		Candidate	%	Votes
✔		Wesley Harris	66.6	433,791
		Gabriel Esparza	33.4	217,689

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	There were no incumbents in this race. The results have been certified. Source	Total votes: 651,480
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
Do you want a spreadsheet of this type of data? Contact our sales team.

Republican primary election

Republican primary for North Carolina Treasurer

Brad Briner defeated Rachel Johnson and A.J. Daoud in the Republican primary for North Carolina Treasurer on March 5, 2024.

		Candidate	%	Votes
✔		Brad Briner	39.9	346,160
	Submit photo	Rachel Johnson	34.5	299,158
		A.J. Daoud	25.5	221,442

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	There were no incumbents in this race. The results have been certified. Source	Total votes: 866,760
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
Do you want a spreadsheet of this type of data? Contact our sales team.

Withdrawn or disqualified candidates

• John Bradford III (R)

Endorsements

Ballotpedia did not identify endorsements for Esparza in this election.

Campaign themes

2024

Video for Ballotpedia

Video submitted to Ballotpedia Released July 15, 2023

Ballotpedia survey responses

See also: Ballotpedia's Candidate Connection

Gabriel Esparza completed Ballotpedia's Candidate Connection survey in 2024. The survey questions appear in bold and are followed by Esparza's responses. Candidates are asked three required questions for this survey, but they may answer additional optional questions as well.

Expand all | Collapse all

Who are you? Tell us about yourself.

Like so many Americans, I can trace my roots to the immigrant story of my great grandparent’s generation with both Mexican and Eastern European Jewish roots. My paternal grandfather fought in World War II and then went on to work in agriculture at the dawn of Cesar Chavez’s United Farmworker movement and then later in the construction trades (LiUNA union). My maternal grandparents were both proud Teamsters during their decades in the liquor sales and distribution trade. This is why I am so proud to have received the endorsements of the AFL-CIO and the Teamsters unions. It is because of their journey and their legacy that I feel an obligation to give back to my community, to pursue public service, and to make a difference in the world.

I attended Stanford University and got my MBA at Harvard Business School, then went on to have a successful 25+ year career in the private sector – American Express, consulting, and a tech start-up company that transformed the nation’s 9-1-1 system. At the federal level, I joined the U.S. Small Business Administration in 2021 as Associate Administrator – creating jobs, providing expanded access to capital, and advocating for American small businesses around the world. I’ve also served at the local level on the Civil Service Commission and as a trustee of the 2nd largest community college in North Carolina.

Throughout my career I have created jobs, grown business, and advocated for people and the communities I’ve lived in.

Please list below 3 key messages of your campaign. What are the main points you want voters to remember about your goals for your time in office?

• Experience Matters: Money Management

  The greatest challenge facing the Treasurer is the long-term stability of the state pension fund. The fund has underperformed and the current Treasurer has shifted the burden of funding current liabilities to the taxpayers. The General Assembly is now allowing some plan participants to leave the fund and set up their own pension investment platform. The totality of this situation risks the state’s AAA credit rating. I’ve managed a $600M loan portfolio at the SBA, helped raise over $200M in venture capital, extended billions of dollars in credit to consumers and small businesses at American Express, and deployed other capital as an angel investor. We will turn this fund around!

• Experience Matters: Operations and Negotiations The Treasurer must also manage the state healthcare plan and keep costs low. Blue Cross has been the plan administrator, but the contract was recently awarded to Aetna in a questionable bidding process – now the subject of litigation. We’ll need to manage a smooth transition to Aetna, or administer a re-do of the contract bidding process. Prescription drug prices have also skyrocketed, resulting in the Treasurer halting the reimbursement of weight-loss drugs – a decision that favored short-term savings over long-term cost avoidance. I’ve managed large operations and negotiated big contracts, including government contract bidding processes. Insist on transparency and low costs!
• Experience Matters: Leading Teams This Treasurer has created such a toxic work environment that numerous senior officials have chosen to leave. The organization has a staff of over 450 people, and the absence of a cohesive, competent senior leadership team threatens the basic functioning of the office. The single most important new hire will be the Chief Investment Officer of the fund, followed by the head of the state health plan. With a national network of contacts in the investment space, I will have a robust roster of people to recruit and choose from. I have managed organizations of all sizes and insisted upon a shared work ethic, focus on the customer, and excellence in all that we do.

What areas of public policy are you personally passionate about?

The majority of my career has been focused on issues of economic empowerment. This largely involves starting and growing businesses through training and development, access to capital, and by creating conditions conducive to an efficient marketplace. I was proud to serve in the Biden Administration at the U.S. Small Business Administration on behalf of the 33 million American small businesses. But my entire career has focused on creating companies, growing revenue through innovative strategies and leveraging the latest technology. I hope to bring that same mindset and experience to the Treasurer’s office in order to more effectively manage the state pension fund and keep healthcare costs low for North Carolinians.

What qualities does this office possess that makes it a unique and important part of the state government and legal system?

The North Carolina Treasurer is a sole fiduciary of the state pension fund. That is to say there is no board of other oversight committee that shares joint responsibility for the fund. In fact, North Carolina’s pension fund is the second largest public pension plan managed by one person (the sole fiduciary) in the United States. This only underscores the need for deep experience in matters of finance, business, and management.

What characteristics or principles are most important for an elected official?

For all elected officials, independent of the office, integrity is the core characteristic that defines true servant leader. This person must believe the interests of the people are more important than any personal gain. Therefore, honesty and transparency in core to building trust with one’s constituents.

What do you believe are the core responsibilities for someone elected to this office?

The North Carolina Treasurer’s core responsibilities include management of the state pension fund, oversight of the state health plan, and chairing the NC Local Government Commission (LGC). The LGC supports local government – counties, cities and towns – in the financial management of their communities. The Treasurer also happens to sit on the State Board of Education, so all matters of education, particularly education funding, can be greatly influenced by the Treasurer.

What is the first historical event that happened in your lifetime that you remember? How old were you at the time?

By no means was this the earliest historical event that I remember, but the Challenger Space Shuttle explosion in 1986 left an indelible mark on my memory. I had dreamed of becoming an astronaut and even wrote to NASA who sent me pictures of some of the early space missions. But when I saw, live on TV, the explosion of the shuttle, and the tragic loss of life of those astronauts. I told my parents becoming an astronaut was probably not for me anymore. But to this day I am intrigued by the beauty and mystery of space – and hope I still might be able to fly in space in my lifetime.

What was your very first job? How long did you have it?

My first job (in my teenage years) was working concessions at the University of Colorado football games. At first, this meant shoveling ice, filling Cokes, and boiling hot dogs. I graduated to working the cash register, then got bumped to selling hot dogs by carrying the crate of hot dogs up and down the stands – trying not to burn my legs. By the time I was poised to graduate high school, I got promoted to parking cars before the game. This was the best job in the world because despite having to wake up early, you’re done parking cars by the end of the 1st quarter and we all then got a ticket to the game.

Do you believe that it's beneficial for holders of this office to have previous experience in government or politics?

The Treasurer exists within the executive branch of government. Therefore, prior government experience in the legislative branch is actually somewhat irrelevant to this job. Alternatively, operating experience of any sort, be it in the public sector or private sector, is of utmost importance to be a successful Treasurer. This includes prior experience managing money, negotiating with corporate interests, and running a large organization are basic requirements of the job.

What kind of skills or expertise do you believe would be the most helpful for the holders of this office to possess?

The NC State Treasurer manages over $100B in state pension fund assets. Experience managing money is fundamental. Second, the state health plan requires the ability to negotiate with and manage relationships with pharmaceutical companies, hospitals, and insurance carriers. And finally, the Treasurer’s office is almost 500 people strong. People management and leadership skills are also a must. In each of these areas, I bring decades of experience to the job – managing budgets and money, negotiating with corporate interests, and managing people and organizations.

What organizations or individuals have endorsed your campaign?

I am proud to have earned the endorsement of the AFL-CIO, the Teamsters union, the Sierra Club, the Latino Victory Fund, and numerous other state and local elected officials.

Note: Ballotpedia reserves the right to edit Candidate Connection survey responses. Any edits made by Ballotpedia will be clearly marked with [brackets] for the public. If the candidate disagrees with an edit, he or she may request the full removal of the survey response from Ballotpedia.org. Ballotpedia does not edit or correct typographical errors unless the candidate's campaign requests it.

Campaign finance summary

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Note: The finance data shown here comes from the disclosures required of candidates and parties. Depending on the election or state, this may represent only a portion of all the funds spent on their behalf. Satellite spending groups may or may not have expended funds related to the candidate or politician on whose page you are reading this disclaimer. Campaign finance data from elections may be incomplete. For elections to federal offices, complete data can be found at the FEC website. Click here for more on federal campaign finance law and here for more on state campaign finance law.

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Gabriel Esparza campaign contribution history

Year	Office	Status	Contributions	Expenditures
2024*	North Carolina Treasurer	Lost primary	$372,850	$318,452
Grand total			$372,850	$318,452
Sources: OpenSecrets,  Federal Elections Commission ***This product uses the openFEC API but is not endorsed or certified by the Federal Election Commission (FEC).
* Data from this year may not be complete

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