Archive · 19 Nov 2025
Tom Steyer Enters 2026 California Governor Race
Rich businessman Tom Steyer is running for governor of California in 2026.
He wants to make life more affordable for Californians by building more homes and lowering energy bills.
He's joining a big group of other candidates, both Democrats and Republicans, who want the job after the current governor can't run again.
Tom Steyer, a billionaire businessman and Democratic megadonor, announced his candidacy for the 2026 California governor's race.
Steyer, 68, launched his campaign with a populist message targeting the ultrawealthy, despite being among them.
He promises to tackle California's high cost of living, build 1 million homes in four years, and lower energy bills by increasing competition.
Steyer joins a crowded Democratic field, with no clear frontrunner to replace Governor Gavin Newsom, who is term-limited.
Notable Republican contenders include Steve Hilton, Chad Bianco, and Leo Zacky.
- Who
- Tom Steyer
- What
- Announced his candidacy for the 2026 California governor's race
- When
- November 19, 2023
- Where
- California
- Why
- To make life more affordable for Californians
Steyer's Populist Stance
Wealth and Political Experience
Targeting the Ultrawealthy
Steyer's Populist Stance
Steyer's campaign targets the ultrawealthy, including himself.
Wealth and Political Experience
Critics argue he should address his own wealth first.
Political Experience
Steyer's Populist Stance
Steyer has never held elected office.
Wealth and Political Experience
Supporters argue his political activism and funding efforts make up for lack of elected experience.
- Age
- 68
- Net Worth
- Over $1.6 billion
- Previous Role
- Co-executive chair of Galvanize Climate Solutions
- 2020 Presidential Run
- Spent over $340 million before dropping out
- 2026 Democratic Candidates
- Katie Porter, Xavier Becerra, Antonio Villaraigosa, Tony Thurmond, Betty Yee, Ian Calderon, Stephen Cloobeck