Tom Steyer’s Campaign for California Governor
Tom Steyer, a billionaire investor turned progressive activist, is now seeking elected office after years of supporting political causes. He aims to follow term-limited Governor Gavin Newsom in the 2026 race for California governor. Steyer made his wealth at Farallon Capital before transitioning to climate advocacy and Democratic politics.
The Field of Candidates
The race includes numerous candidates, predominantly Democrats with varying ideologies, alongside some Republican contenders. Among the Democrats, Xavier Becerra, former U.S. Health and Human Services Secretary, represents a more traditional party establishment. Katie Porter, a former representative, runs as a policy-driven progressive, focusing on consumer protection and corporate oversight. Antonio Villaraigosa, former Los Angeles Mayor, is seen as a centrist. Steyer positions himself as an outsider with a populist progressive platform, concentrating on climate issues and economic inequality. His personal wealth significantly supports his campaign.
Republican Contenders
Republicans in the race include Riverside County Sheriff Chad Bianco and ex-Fox News host Steve Hilton. They represent traditional conservative and populist outsider wings, respectively. Both face challenges in a primarily Democratic state, though California’s top-two primary system may offer opportunities in a divided field. President Donald Trump recently endorsed Hilton.
Steyer’s View on the Race
In an interview, Steyer shared that his approach challenges corporate special interests that underpin the political establishment. He believes his stance aligns more with working individuals rather than corporate benefactors, a stance he sees as alarming to establishment forces.
Reflecting on his interactions in California, Steyer emphasizes maintaining honest relationships. He notes a division between working for change versus maintaining the status quo, posing critical questions about who governs the state—its populace or its wealthiest segments and corporations.
Building a Progressive Foundation
At a recent rally, Steyer mentioned committing fully to the governor’s role without future ambitions in mind. He highlighted connections with progressive leaders in California, noting that real power hasn’t rested with progressives. Steyer underscores the economic struggles in the state, like unaffordable living and health trade-offs, as central to his campaign.
Steyer believes the progressive agenda doesn’t dominate California’s state governance, contrasting with figures like Rep. Alexandria Ocasio-Cortez in Congress. He expresses surprise at other Democratic candidates taking money from special interests and not seeking substantial change, which underscores a key campaign difference.