He made a run for the Oval Office in 2020. Now billionaire philanthropist Tom Steyer has set his sights on the California governor's mansion. NBC News reports Steyer on Wednesday entered a crowded field aiming to succeed outgoing and term-limited Democratic Gov. Gavin Newsom, among them former Health and Human Services Secretary Xavier Becerra, ex-Rep. Katie Porter, and former Los Angeles Mayor Antonio Villaraigosa. On the Republican side, Riverside County Sheriff Chad Bianco and ex-Fox News host Steve Hilton are running. The state will hold a nonpartisan primary in June in which all candidates appear on one ballot and the two with the most votes move onto a general election.
In his announcement video, Steyer took aim at wealthy elites without mincing words: "The richest people in America think that they earned everything themselves. Bulls---, man. That's so ridiculous." He continues, "Californians deserve a life they can afford, but the Californians who make this state run are being run over by the cost of living," Steyer said. "Sacramento politicians are afraid to change this system. I'm not. They're going to hate this. Bring it on."
KCRA reports on his campaign promises: to shrink electric bills, build a million homes over a four-year term, make pre-school and community college free, and prohibit PAC money from being spent on state elections. Steyer made his estimated $2 billion fortune running a hedge fund before turning to progressive causes, where he's spent the last decade advocating for action on climate change and health care. His 2020 presidential campaign was largely self-funded, but failed to gain traction and ended before Super Tuesday.
The New York Times describes him as "little known to California voters but could overcome that disadvantage by funding his own campaign." It calls the field of candidates as "unusually fluid," with no candidate boasting enough support to yet be seen as a frontrunner. Still, Politico notes current polling doesn't spark much optimism regarding Steyer's chances: A survey this month out of UC Berkeley put his chances at 1%.
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