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1h ago

Tom Steyer Launches California Governor Bid With Affordability, Anti‑Corporate Agenda

His entry follows a multimillion‑dollar Prop. 50 ad blitz, signaling a well‑funded bid.

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Tom Steyer, then campaigning to be the Democratic candidate for president, arrives for a primary debate in Charleston, South Carolina, on February 25, 2020.
Former hedge fund manager Tom Steyer, pictured in 2019, Steyer, said in a video announcement Wednesday he will make corporations “pay their fair share” in order to help Californians to build a “life they can afford.”
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Overview

  • Steyer announced his campaign in a video centered on lowering the cost of living and making corporations pay what he calls their fair share.
  • His platform pledges include building one million homes in four years, lowering electric bills by up to 25% by ending utility monopolies, making preschool and community college free, and banning corporate PAC money in state elections.
  • The billionaire former Farallon Capital founder and NextGen America creator casts himself as an outsider willing to challenge corporate power.
  • Coverage notes vulnerabilities tied to Farallon’s past investments, including coal and migrant detention, which rivals are expected to highlight.
  • He joins a crowded field to replace term‑limited Gov. Gavin Newsom, including Democrats Xavier Becerra, Katie Porter, Antonio Villaraigosa, Tony Thurmond and Betty Yee, and Republicans Chad Bianco and Steve Hilton.