Tom Steyer Pours $200 Million Into California Governor Race as Opponents Spend $79 Million
Updated
Updated · The Guardian · Jun 2
Tom Steyer Pours $200 Million Into California Governor Race as Opponents Spend $79 Million
1 articles · Updated · The Guardian · Jun 2
$200 million in ad spending has put Tom Steyer on track for a record California governor campaign push days before the June 2 primary, where the top two finishers advance to November.
$79 million has already been spent by outside groups in the race, with $32 million from an anti-Steyer committee backed by Realtors, the state chamber, PG&E and an electrical workers' union.
Steyer is running as a progressive disruptor, backing higher taxes on corporations and billionaires, single-payer healthcare and a challenge to PG&E's monopoly, while Xavier Becerra is cast as the establishment favorite.
Corporate money has flowed toward Becerra-aligned efforts, including $500,000 from DaVita and other large donations from McDonald's, Chevron and California Resources Corp.
The contest has become a broader fight over California Democrats' direction, with implications for Gavin Newsom's Sacramento influence and the party's 2028 presidential bench.
Can a billionaire's personal fortune overcome millions in corporate spending to win California's top office?
How do voters weigh a candidate's past business deals against their promises for progressive reform?
The $79.6 Million Race: Unprecedented Spending, Self-Funding, and Special Interests in California’s 2026 Governor’s Election
Overview
The 2026 California governor’s race stands out for its unprecedented financial scale, driven largely by Tom Steyer’s self-funding strategy. Unlike traditional campaigns that rely on corporate donations, Steyer’s use of personal wealth reflects a growing voter desire for limits on fundraising and skepticism toward corporate influence. Many voters see corporate donations as a form of implicit corruption, believing companies expect something in return. Steyer’s campaign also uses less transparent spending methods, highlighting new trends in campaign finance. This financial landscape is reshaping voter attitudes and setting new precedents for how political campaigns are run in California.