Meg Whitman self-funded what is likely the most expensive governor's race in history. She's a billionaire and former eBay CEO. She and fellow former female exec Carly Fiorina (HP) both were defeated by career politicians. Jerry Brown is California's former governor, and Barbara Boxer who defeated Carly Fiorina is the incumbent Senator.
Whitman has only been political since signing on as one of Mitt Romney's economic advisors during the 2008 elections. Romney lost to John McCain, who then lost to President Obama.
Teary eyed supporters of Meg Whitman noted at her concession speech that they hoped that, one day, a GOP female would become California's first woman governor.