Tom Steyer Announces Candidacy for California Governor

Billionaire and prominent Democratic donor Tom Steyer has officially announced his intention to run for governor of California. This comes as various candidates compete to succeed Democratic Governor Gavin Newsom.

In an introductory speech, Steyer remarked, “The richest people in America think they earned everything themselves.” He added, somewhat emphatically, that this notion is “really stupid.” It seems he’s aiming to address issues related to wealth disparity and its implications.

Steyer, a former hedge fund manager, has gained significant influence in national politics over the last decade. He founded NextGenAmerica, an advocacy group focused on increasing youth voter turnout, which played a role in helping the Democrats reclaim the House in 2018. Additionally, he was a key player in the “Need to Impeach” movement, which aimed to hold President Donald Trump accountable.

He previously ran for president in 2020 and invested around $250 million of his own money into his campaign. Unfortunately, his performance in the early primaries resulted in his withdrawal from the race.

Critics, including former President Trump, have targeted Steyer in the past. Trump once claimed that Steyer “spent more money on nothing” than any candidate besides Mike Bloomberg, suggesting that his efforts in politics have been fruitless.

Newsom, who assumed office in early 2019 and successfully navigated a recall election in 2021, is ineligible for a third term, as California’s state constitution limits governors to two terms.

Other candidates for the upcoming gubernatorial race include former Secretary of Health and Human Services Xavier Becerra, former U.S. Representative Katie Porter, former Los Angeles Mayor Antonio Villaraigosa, Riverside County Sheriff Chad Bianco, and former Fox News Channel host Steve Hilton.