NewsNation will feature Nexstar’s “Debate Night in California: The Race for Governor” on Wednesday, April 22, with special coverage starting at 8p/7C, livestreamed by The Hill.
(NewsNation) — Billionaire Tom Steyer, a Democrat who ran for president in 2020, is now seeking California’s top office.
California Gov. Gavin Newsom, a Democrat, cannot seek reelection after hitting the state’s term limit.
Steyer is 1 of 6 candidates invited to Nexstar’s “Debate Night in California: The Race for Governor” on Wednesday. After previous Democratic front-runner Eric Swalwell suspended his gubernatorial campaign, Steyer is seen as potentially his party’s next candidate, although the field is large and the race’s dynamics are evolving.
Two Republicans lead California governor race after Swalwell exit: Poll
The California primary election will be held June 2, with early voting beginning May 4.
Here’s what to know about Steyer.
Who is Tom Steyer?
Steyer, a 68-year-old New York native and graduate of Yale and Stanford universities, founded the San Francisco-based hedge fund Farallon Capital Management in 1986. He left in 2012 to pursue philanthropy and environmental activism, founding NextGen Climate and a related political action committee.
The clean energy entrepreneur wrote a 2024 book, “Cheaper, Faster, Better: How We’ll Win the Climate War,” about green technologies that could help stabilize the planet.
Why is Tom Steyer running?
Although Steyer is independently wealthy, he says he’s running for California governor to make the Golden State more affordable for all residents.
“The Californians who make this state run are being run over by the cost of living,” he said in a promotional video. “They deserve to be able to afford to live in a decent house.”
What are Tom Steyer’s key running points?
Affordable housing:
Steyer said he would aim to build 1 million homes in California over four years to relieve the state’s housing shortage. He promises to make borrowing easier for homebuyers and streamline construction processes. At the same time, the Democrat promises to support programs that protect renters.
California gubernatorial debate: How to watch
AI safeguards:
The Steyer campaign says the use of artificial intelligence in California should have guardrails so that workers do not lose their jobs. Steyer also proposes creating a Golden State Sovereign Wealth Fund that would tax the corporate use of AI by “a fraction of a cent for every unit of data processed.”
Immigration, opposition to ICE:
Steyer advocates dismantling Immigration and Customs Enforcement, a federal agency that enforces immigration laws. Although that is a federal issue, the gubernatorial candidate said that, under his watch, the state government would hold rogue ICE officers accountable for misconduct. Steyer also says if elected, he would preserve California’s status as a sanctuary state.
A new Nexstar Media Group–Emerson College poll shows a competitive field in the California governor’s race, with Steve Hilton leading at 17%, followed by Tom Steyer and Chad Bianco at 14%. The survey was conducted April 14–15 among 1,000 likely voters. (NewsNation)
Where does Tom Steyer stand in polling?
In an April poll commissioned by Nexstar Media Group and conducted by Emerson College Polling, Steyer led Democrats with just over 14% of support among likely voters. Two Republicans were at or above that margin, raising the possibility that Steyer may not emerge for the general election.
Steyer’s support level among Democratic candidates is between 17% and 21%, according to a recent SurveyUSA poll that tried to gauge the effect of Swalwell’s departure.