
Billionaire activist Tom Steyer's recent announcement of his candidacy for California governor has been met with sharp criticism from fellow Democratic candidate Katie Porter. Porter, who previously received campaign donations from Steyer across several cycles, publicly denounced his claims, escalating tensions in the crowded race to succeed term-limited Governor Gavin Newsom. Her strong reaction highlights a significant shift in their political relationship as they now compete for the state's top office.
Steyer, a former hedge fund manager and 2020 presidential candidate, launched his gubernatorial bid focusing on California's affordability crisis. He pledged to address housing shortages and high utility costs, emphasizing his commitment to making "corporations pay their fair share again." Steyer, 68, has a history of self-funding his political endeavors, including spending millions on a previous presidential campaign and various ballot initiatives.
Porter directly challenged Steyer's platform, particularly his claims to fight industries from which he previously profited. In a social media post, Porter stated, > "A new billionaire in our race claims he’ll fight the very industries he got rich helping grow — fossil fuel companies, tobacco, and private immigration detention facilities — at great cost to Californians. I call bulls---". This direct quote underscores her skepticism regarding his populist messaging and highlights a perceived hypocrisy.
The entry of Steyer into the race further intensifies an already competitive field of Democrats vying for the governorship, including former Los Angeles Mayor Antonio Villaraigosa and former Health and Human Services Secretary Xavier Becerra. Porter, considered a strong contender, has recently faced scrutiny herself over past interactions with staff and journalists. Steyer's considerable personal wealth is expected to significantly impact campaign spending and visibility.
California has a history of wealthy candidates leveraging their fortunes in gubernatorial races, often with mixed results. While Steyer's financial resources could provide a substantial advantage in reaching voters across the expansive state, past examples like Meg Whitman's 2010 campaign demonstrate that extensive spending does not guarantee electoral success. The dynamic between Steyer's funding and Porter's progressive appeal will be a key aspect of the campaign.