Billionaire businessman and activist Tom Steyer has launched his bid for California governor as a Democrat.
Billionaire businessman and activist Tom Steyer, who once self-financed an unsuccessful White House campaign and spent his own money advocating for President Donald Trump’s impeachment, has launched his bid for California governor as a Democrat.
The 68-year-old’s tremendous wealth immediately makes him a notable contender in a free-for-all that includes more than a half-dozen Democrats and two Republicans competing in an all-party June primary, with the top two vote-getters advancing to a November general election to succeed term-limited Gov. Gavin Newsom.
Steyer announced his candidacy with a pledge to improve economic conditions and by framing his political record as friendly to consumers, working-class voters, and the environment.
“Californians deserve a life they can afford,” he said in a video released Wednesday morning. “But the Californians who make this state run are being run over by the cost of living.”
The approach puts Steyer on a collision course with other candidates like progressive Congresswoman Katie Porter, former Los Angeles Mayor Antonio Villaraigosa, and former U.S. Health and Human Services Secretary Xavier Becerra.
At one time, Porter was viewed as a top contender, but the contest is now seen as wide open. Steyer’s personal fortune could give him an advantage in reaching voters through television and digital advertising in an expansive state with nearly 40 million people and multiple media markets.
