(CNN) - Hollywood is getting behind Jerry Brown's bid to be the next governor of California with a coming out party Wednesday night in Los Angeles.
The fundraiser at Sandy Galin's house in Bel Air is co-hosted by Kate Capshaw and Steven Spielberg, Jeffrey and Marilyn Katzenberg, Diane von Furstenburg and Barry Diller, David Geffen, and Larry Ellison among others. Galin is a top Hollywood talent manager.
Brown has yet to declare for governor, but at this point it's considered a formality. In California Democratic circles it's understood the state's attorney general is in. Now that San Francisco Mayor Gavin Newsom has bowed out of the race, the path is clear for Brown , who was the state's youngest governor since the turn of the 20th century. Brown was 36 when he was first elected California governor in 1974. He was re-elected in 1978.
The expected donation for Wednesday night's event? Give or raise $50,000 for a co-chair, $25,000 for a sponsor, $10,000 for an couple and $5,000 for an individual. Organizers expect to raise more than $1 million for Jerry Brown's 2010 Exploratory Committee.
California's current governor, Arnold Schwarzenegger, is term limited and prevented from running for re-election next year.