Tom Steyer’s Financial Ties and Campaign Support from Jane Fonda
Billionaire Tom Steyer, who’s faced scrutiny for compensating Gen Z social media influencers, has also funneled six figures into a political action committee associated with acclaimed actress and activist Jane Fonda, as revealed in campaign reports.
The iconic liberal star has actively supported Steyer, joining him at a May 7 campaign event in Los Angeles and starring in a record-breaking $130 million campaign advertisement for his gubernatorial run in California.
Fonda expressed her trust in Steyer, stating, “Progressives like me trust Tom,” in a campaign advertisement released on April 21.
Before publicly endorsing Steyer, she received $310,000 from him, according to federal campaign filings. Between March and May 2024, Steyer contributed about $260,000 to Fonda’s Jane Fonda Climate PAC.
Furthermore, Fonda’s PAC secured an additional $50,000 from Steyer in 2022, plus $30,000 from his wife, Kat Taylor, in 2023 and 2024.
The Jane Fonda Climate Change PAC endorsed Steyer primarily because of his commitment to confronting the fossil fuel industry and advocating for a sustainable future. In an email, the PAC highlighted Steyer’s extensive background in climate advocacy and his push for making polluters accountable.
As Steyer faces allegations of attempting to buy influence online, the financial connections between him and Fonda have come to light again.
Content creators have criticized Steyer for supposedly using deceptive methods to promote his campaigns by paying influencers like Isaiah Washington and Carlos Eduardo Espina without clearly disclosing their payments.
Washington reportedly received $10,000 from Steyer before deactivating his account, while Espina, who is also an activist, was compensated with $100,000 in what was termed “advice.”
Kevin Liao, Steyer’s campaign spokesperson, defended their practices, insisting that their payments are transparent and publicly disclosed in accordance with California law.
Currently, Steyer’s campaign is lagging behind Democratic frontrunner Xavier Becerra and Republican candidate Steve Hilton in recent polls.
This isn’t the first occasion where Steyer, who amassed substantial wealth through his hedge fund, has been accused of making significant financial commitments to garner support. During his 2020 presidential campaign, his team was reported to have traded campaign funds for endorsements from Iowa politicians, which, while not illegal, led to notable disruption during the Iowa primaries.
Former Iowa Senator Tom Courtney remarked on Steyer’s financial tactics, noting that he supported down-ballot candidates who backed him, giving others the impression they could do the same in return.
Amidst this backdrop, President Biden’s campaign had accused Steyer of financially incentivizing Black legislators and their businesses for their endorsements.
Recently, Steyer received backing from former California Secretary of State Betty Yee, who had received the most financial support from the Steyers in her previous campaigns, amounting to $27,700. Similarly, former Senator Toni Atkins endorsed Steyer after accepting $9,200 from him in past years.
In May, Kat Taylor, Steyer’s wife, contributed $7,000 to Congressman Ro Khanna’s campaign, underscoring their involvement in local political landscapes.
A statement from Rio emphasized that Steyer’s support is rooted in his alignment with key issues, including holding polluters accountable and advocating for affordable housing—setting him apart from opponents reliant on corporate funding.
