Multi-billionaire Launches Campaign for California Governor
American Chinese News reports that Tom Steyer, a multi-billionaire activist who once funded his own presidential campaign, officially announced on Wednesday that he will run for California governor as a Democrat. With his substantial personal wealth, the 68-year-old Steyer will immediately make this already crowded race more complicated.
In a campaign video released on Wednesday, Steyer focused his campaign on the growing cost of living crisis in California. He said, "Californians should be able to afford a decent life, but the reality is that the people who keep this state running are being crushed by the cost of living."
Steyer admitted that his company has earned "billions of dollars," but he also made strong populist statements, saying, "The richest people in America think they earned everything they have. Nonsense! That's absurd." He promised to "make corporations pay their fair share."
The California governor's race is becoming increasingly fierce, with potential Democratic opponents including progressive Congresswoman Katie Porter, former Los Angeles Mayor Antonio Villaraigosa, and former Health and Human Services Secretary Xavier Becerra.
The Associated Press pointed out that Steyer's huge wealth is undoubtedly a major advantage, allowing him to quickly boost his visibility in a state with nearly 40 million people and multiple expensive media markets through an overwhelming number of advertisements. However, history in California politics shows that wealth is not a guarantee of success. HP's former CEO Carly Fiorina failed to defeat Democratic Senator Barbara Boxer in 2010. That same year, eBay's then-CEO Meg Whitman spent over $100 million of her own money on a gubernatorial campaign and still lost.
Steyer has long been an important player in California and national politics. He successfully pushed for several ballot initiatives, including a 2012 proposal to increase corporate taxes to fund clean energy, and a 2016 campaign that significantly raised the tobacco tax to fund healthcare.
During Trump's first term, Steyer gained fame by funding nationwide efforts to impeach him. Later, he ran in the 2020 Democratic primary, spending over $200 million of his own money without securing any delegate support, and eventually withdrew from the race.
Currently, the governorship of California is held by Democratic incumbent Gavin Newsom, whose term is about to end. In June next year, all candidates will participate in a nonpartisan primary, with the top two vote-getters advancing to the November general election. Steyer's entry into the race undoubtedly adds significant uncertainty to this closely watched contest. (American Chinese Television)
Original source: www.toutiao.com/article/1849269438175240/
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