/ Modified jan 16, 2022 10:42 p.m.

Here's how much money candidates for governor have raised and spent so far

Leading candidates spent more than $5 million before 2022 even began.

Campaign finance reports filed over the weekend show candidates for governor have already spent more than $5 million heading into election year.

The reports, which cover 2021, are the first that candidates have filed this campaign season.

Republican gubernatorial hopeful Steve Gaynor has more cash on hand than any other candidate after giving his own campaign $5 million and still has most of that money in his war chest. But he raised only about $8,000 from donors.

Secretary of State Katie Hobbs raised more money than any other Democrat seeking the nomination for governor, reporting $2.9 million in fundraising during 2021. But she also spent more than any other candidate — over $1.5 million.

Former Phoenix TV anchor and Republican gubernatorial hopeful Kari Lake is the only other candidate to have spent over $1 million so far. She had only $375,000 heading into election year.

Lagging far behind those fundraising hauls with only about $229,000 on hand, Republican Kimberly Yee announced Saturday she is dropping out of the race for governor and will instead seek another term as state treasurer.

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