Tom Steyer's $215 Million California Gubernatorial Campaign Ends Without Victory
Billionaire climate activist Tom Steyer failed to advance to California's general election for governor despite spending over $215 million of his own money, finishing outside the top two in the all-party primary. This marks Steyer's second unsuccessful bid for elected office, following a $300+ million presidential campaign in 2020. The outcome raises questions about the effectiveness of self-funding as a strategy for winning political office.
Tom Steyer's second attempt to win elected office has ended in defeat after he spent more than $215 million of his own money on his California gubernatorial campaign. According to NBC News projections, former Fox News host Steve Hilton and former Health and Human Services Secretary Xavier Becerra advanced to the general election, leaving Steyer outside the top two finishers in the all-party primary. Steyer's campaign directed approximately $209 million toward advertising, representing roughly two-thirds of all ad spending in the entire governor's race across dozens of candidates and outside groups. This campaign follows his 2020 presidential bid, in which he contributed over $300 million to his campaign—more than all other candidates except eventual nominees Joe Biden and Donald Trump, and billionaire Michael Bloomberg. The pattern of unsuccessful self-funded campaigns by wealthy individuals continues with healthcare executive Rick Jackson's $90 million Georgia gubernatorial campaign facing a primary runoff.
What different sources said
- NBC NewsLeft
The limits of self-funding: From the Politics Desk
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