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Posted inLocal News

Billionaire activist Tom Steyer launches bid to succeed Newsom as California governor

by Maya C. Miller, CalMatters November 19, 2025November 19, 2025

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FILE: Democratic presidential candidate Tom Steyer speaks at a campaign event in Myrtle Beach, South Carolina, Feb. 26, 2020. Steyer has launched his 2026 bid to become California governor. (AP Photo/Gerald Herbert, file)

TOM STEYER, the billionaire climate activist and businessman who unsuccessfully ran for president in 2020, is the latest Democrat to jump into California’s crowded gubernatorial field.

His two core promises — which could appear at odds — are to preserve the state’s status as a hub for business and innovation while also lowering California’s cost of living by making corporations pay “their fair share,” he said in a video message.

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Tagged: affordability, Antonio Villaraigosa, Bay Area, Business and Innovation, California Governor’s Race, California politics, CalMatters, campaign finance, Climate Activism, Congressional redistricting, cost of living, Democratic Candidates, Democrats, Election 2026, Farallon Capital, Gov. Gavin Newsom, Gubernatorial Campaign, hedge funds, housing, Katie Porter, NextGen America, political ads, Political campaigns, politics, President Donald Trump, Progressive Politics, Proposition 50, renewable energy, Silicon Valley, Tax Policy, Tom Steyer, Trump administration, utilities, Xavier Becerra
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