California Governor Gavin Newsom announced that the state has overtaken Japan to become the world's fourth-largest economy. California's nominal GDP reached $4.1 trillion, surpassing Japan's $4.02 trillion, as per the IMF and US Bureau of Economic Analysis (BEA) data shared by Newsom. It now ranks behind the US ($29.18 trillion), China ($18.74 trillion) and Germany ($4.65 trillion).