Billionaire Tom Steyer Enters California Governor’s Race, Adding to Competitive Field
SACRAMENTO, CA - November 21, 2023 – Billionaire Tom Steyer has officially entered teh race for California governor in 2026, significantly reshaping a field already including U.S. Representative Katie Porter and possibly Vice President Kamala Harris. Steyer’s declaration adds a well-funded and nationally known figure to a contest that is beginning to draw scrutiny of candidates’ pasts and future ambitions.
Steyer, who previously ran for president in 2020, spent over $200 million on his campaign, ultimately receiving no pledged delegates after finishing third in the South Carolina primary.Prior to his presidential bid, he invested heavily in efforts to impeach former President Donald Trump and has been a consistent financial supporter of Democratic causes.
The entrance of Steyer comes as some Democrats are questioning Porter’s candidacy following the widespread circulation of contentious exchanges with a TV journalist in October. Steyer has long been considered a potential “heavyweight” candidate alongside Harris and U.S. Senator Alex Padilla.
Vice President Harris, currently on a national tour promoting her memoir, has repeatedly stated she has “no plans to run” for governor, suggesting her future political aspirations remain focused on the presidency. When asked about the field on October 17, harris told The Associated Press she wanted Democrats to have “the best and the brightest running and winning” and that she was “not actively involved.” Padilla has affirmed his commitment to remaining in the Senate.
The race also follows scrutiny of potential conflicts involving former Attorney General Xavier Becerra, whose dormant campaign accounts were reportedly used to supplement the salary of his chief of staff after Becerra moved to Washington. While Becerra is not implicated in an indictment related to the matter,an advertisement has been released raising questions about his judgment,featuring a clip of Becerra acknowledging payments from his account without knowing their improper use.
The 2026 California gubernatorial election is already shaping up to be a closely watched contest, with Steyer’s entry injecting further complexity and financial muscle into the developing campaign.