Tom Steyer is running for California governor as a populist billionaire

Billionaire businessman and activist Tom Steyer, who erstwhile self-financed an unsuccessful White House campaign and spent his ain wealth advocating for President Donald Trump's impeachment, has launched his bid for California governor arsenic a Democrat.

The 68-year-old's tremendous wealthiness instantly makes him a notable contender successful a free-for-all that includes much than a half-dozen Democrats and two Republicans competing successful an all-party June primary, with the apical 2 vote-getters advancing to a November wide predetermination to win term-limited Gov. Gavin Newsom.

Steyer announced his candidacy with a pledge to amended economical conditions and by framing his governmental grounds arsenic affable to consumers, working-class voters and the environment.

"Californians merit a beingness they tin afford," helium said successful a video released Wednesday morning. "But the Californians who marque this authorities tally are being tally implicit by the outgo of living."

The attack puts Steyer connected a collision people with different candidates similar progressive Congresswoman Katie Porter, former Los Angeles Mayor Antonio Villaraigosa and former U.S. Health and Human Services Secretary Xavier Becerra.

At 1 time, Porter was viewed arsenic a apical contender but the contention is present seen arsenic wide open. Steyer's wealthiness could springiness him an vantage successful reaching voters done tv and integer advertizing successful an expansive authorities with astir 40 cardinal radical and aggregate media markets.

Steyer nodded to his wealthiness Wednesday, noting his concern enterprises made "billions of dollars." But helium besides sounded populist tones.

"The richest radical successful America deliberation that they earned everything themselves," helium said, earlier dismissing that conception with an expletive for bovine excrement. "That's truthful ridiculous."

Steyer said helium would "make corporations wage their just stock again," and his run cited his erstwhile enactment connected ballot initiatives with akin aims. Steyer was a starring advocator for a 2012 ballot inaugural that made it harder for corporations to debar definite taxes. The caller gross was steered to vigor improvements successful the state's nationalist schools.

In different referendum work, Steyer helped pb the 2016 run that yielded a $2 per-pack taxation hike connected baccy products. The wealth was steered to authorities wellness attraction programs, including tobacco-prevention efforts. And Steyer was a apical hostile of a 2010 ballot inaugural that would person rolled back California's clean aerial and clime law, which has been viewed arsenic a nationalist modular connected clime policy.

Steyer spent millions of his ain wealth touring the state and pushing for Trump's impeachment during the Republican president's archetypal term. He past ran for the 2020 Democratic statesmanlike nomination, spending much than $200 million of his luck and receiving nary pledged delegates. After distant finishes successful the Iowa caucuses and New Hampshire primary, Steyer doubled-down with an costly propulsion in South Carolina, lone to decorativeness a distant 3rd down eventual nominee and President Joe Biden and Vermont Sen. Bernie Sanders. Steyer past ended his statesmanlike bid, and helium financially supported Biden's reelection successful 2024 earlier the Democrat bowed retired successful favour of then-Vice President Kamala Harris, different Californian.

Steyer's latest run comes amid some Democrats questioning Porter's candidacy after her combative exchanges with a TV writer dispersed online successful October. He has agelong been mentioned, on with Harris, arsenic a imaginable heavyweight campaigner who could articulation the field.

Harris, who is connected a nationalist circuit promoting her 2024 run memoir, has said consistently that she has nary plans to tally — suggesting alternatively that immoderate aboriginal run would beryllium for the presidency.

"I volition beryllium voting," she told The Associated Press on Oct. 17 when asked astir entering the governor's race. Asked whether she was satisfied with the tract arsenic Porter faced her astir aggravated criticism, Harris said lone that she wanted Democrats to person "the champion and the brightest moving and winning" and that she was "not actively involved."