Overview
- Steyer announced his candidacy on Nov. 19 via a launch video, joining a crowded, all-party field to succeed term-limited Gov. Gavin Newsom in a top-two primary set for June 2, 2026.
- His platform pledges a 25% cut to electric bills by curbing utility monopolies and letting consumers choose their electricity provider.
- He proposes building one million homes in four years by expediting permits, reducing taxes and fees, using technology to lower costs, and holding localities accountable for affordable housing.
- Steyer also calls for free preschool and community college and for banning corporate PAC money in state elections.
- His roughly $12 million ad blitz for the recently approved Proposition 50 redistricting measure fueled speculation about a run, and his campaign says he intends to contribute personal funds with the amount undecided.