Tom Steyer announced his withdrawal from the California gubernatorial race on Tuesday, stating it was evident he lacked sufficient votes to move forward to the November election.
“It has become clear that we do not have the votes necessary to proceed to the November general election,” Steyer mentioned in a letter he shared on X.
A week after California’s jungle primary, the competition has been trimmed down to two main candidates: former Fox News host Steve Hilton and former Health and Human Services Secretary Xavier Becerra, who will clash in the upcoming gubernatorial election.
Steyer, a billionaire hedge fund manager turned environmental advocate, had entered the race after over a decade focused on national politics and environmental causes. Despite spending more than $200 million of his own money on this campaign, he previously lost in the 2020 Democratic presidential nomination battle.
Throughout his campaign, Steyer promoted progressive ideals, advocating for the abolition of ICE, increased taxes on the wealthiest, and universal healthcare. He received support from Senator Bernie Sanders, who has openly criticized billionaires’ involvement in politics.
In his concession, Steyer highlighted the significant impact of corporate interests on the election results.
“By spending a record $55 million on a single candidate in California’s primary, they have shown what lengths they will go to protect themselves and maintain a status quo that only serves their interests,” he remarked, referencing the significant campaign contributions from companies like Chevron, PG&E, and Meta.
Steyer stated, “This campaign has proven that business as usual depends on politics as usual, and there is no going back. We must continue to fight for a system where democracy serves Californians, not corporations, and where you don’t have to be a billionaire to advocate for policies like single-payer healthcare or breaking up monopolies.”
In California, the gubernatorial election follows a “jungle primary” format, where candidates from all parties appear on the same ballot, allowing the top two contenders to advance to the general election in November.
