Tom Steyer, the billionaire environmental activist who ran for the Democratic presidential nomination in 2020, has announced his candidacy for California governor, joining a crowded field vying to replace Gavin Newsom.
The 68-year-old former hedge fund manager said in a statement that he would focus on the state's affordability crisis, vowing to make corporations pay their fair share. 'Californians deserve a life they can afford,' he said.
Steyer joins other prominent Democrats in the race, including former congresswoman Katie Porter, former US cabinet member Xavier Becerra, former Los Angeles mayor Antonio Villaraigosa, and former state controller Betty Yee. Congressman Eric Swalwell is also expected to run. On the Republican side, Riverside County Sheriff Chad Bianco and former David Cameron adviser Steve Hilton are standing.
Steyer, who founded the political action committee NextGen America, has spent millions on Democratic causes, including over $12m in support of a recent redistricting measure in California. He highlighted his past campaigns raising the tobacco tax and closing corporate tax loopholes as evidence of his effectiveness.
As governor, Steyer has pledged to lower utility costs, build one million homes in four years, make pre-school and community college free, and ban corporate PAC money in state elections.
