Left-Wing Billionaire Spends $200,000,000 Of Own Money To Become Governor Only To Lose To Fox News Host
Billionaire climate activist Tom Steyer came in third in the California gubernatorial primary despite pouring hundreds of millions of his own dollars into his campaign. Steyer, a Democrat, self-funded his failed…
Billionaire climate activist Tom Steyer came in third in the California gubernatorial primary despite pouring hundreds of millions of his own dollars into his campaign.
Steyer, a Democrat, self-funded his failed campaign for governor $213 million, according to CalMatters. One week after polls closed, outlets called that former Fox News host Steve Hilton, a Republican backed by President Donald Trump, had edged out Steyer for the second spot in the November general election.
Former Biden-era Secretary of Health and Human Services Xavier Becerra clinched a runoff spot days earlier with a first-place finish in the all-party primary. Like Steyer, Becerra is a Democrat.
Steyer has spent the most a candidate has ever spent of their own money on a California gubernatorial campaign since digital campaign finance records were first recorded back in 1999, CalMatters reported. Former eBay CEO Meg Whitman set a record for personal wealth spent on a California gubernatorial campaign when she spent $140 million of her own money on her failed 2010 run.
During the 2026 midterms, candidates have spent more of their own personal fortune on campaigns across state and congressional offices than ever before, the outlet reported.
Steyer has a net worth of $2.4 billion, according to Forbes. He founded and ran Farallon Capital Management, a San Francisco-based hedge fund, for 26 years, before he sold his stake in 2012 and got involved in Politics