{"id":1076,"date":"2026-06-05T08:36:30","date_gmt":"2026-06-05T08:36:30","guid":{"rendered":"https:\/\/nextaddressamerica.com\/?p=1076"},"modified":"2026-06-05T08:36:30","modified_gmt":"2026-06-05T08:36:30","slug":"economic-crisis-turns-voters-against-wealthy-self-funders","status":"publish","type":"post","link":"https:\/\/nextaddressamerica.com\/?p=1076","title":{"rendered":"Economic crisis turns voters against wealthy self-funders"},"content":{"rendered":"
\n

If there is one lesson that has emerged from the 2026 midterm election primaries, it is that Democrats and Republicans react very differently to ultra-rich candidates.<\/p>\n

Read more Political scholar reveals the real reason Trump picked Blanche<\/a><\/p>\n

\u201cTom Steyer ran for governor of California as a climate crusader endorsed by Bernie Sanders\u2019 political organization, Our Revolution,\u201d wrote MS NOW\u2019s Armand Manoukian on Thursday. \u201cHe also spent at least $216 million of his own money on the race \u2014 and in the end, that was the only thing voters seemed to remember. With nearly 58 percent of the vote counted, he is running third.\u201d<\/p>\n

\u201cThe timing is unkind to the ultrawealthy,\u201d Manoukian wrote. \u201cIn a March YouGov survey, 77 percent of adults said the wealthy have too much political power, and 52 percent said the government should try to reduce the share of wealth held by billionaires. More than half of adults told a May Politico poll that cost of living is the \u2018worst they can remember.\u2019 Against that backdrop, self-funding candidates \u2014 once a recruiter\u2019s dream \u2014 have become a harder sell.\u201d<\/p>\n

Steyer is not alone in falling prey to this problem. In San Francisco, Saikat Chakrabarti fell short in seeking retiring speaker emerita Nancy Pelosi\u2019s House seat. Former venture capitalist Eric Jones similarly fell short in California\u2019s 4th congressional district. By contrast, Republicans still reward candidates with deep pockets.<\/p>\n

\u201cIn South Dakota, political newcomer Toby Doeden, a car dealership owner, steered $4 million into his own campaign and outpolled the sitting governor in the GOP gubernatorial primary,\u201d Manoukian wrote. \u201cIn Georgia, Rick Jackson, a billionaire healthcare executive, jumped into the Republican gubernatorial primary as a political unknown, pledging to spend $50 million of his fortune, then spent closer to $80 million.\u201d<\/p>\n

Read more Trump bails out his loyal supporters as economy tumbles: report<\/a><\/p>\n

Manoukian added, \u201cRunning on the slogan \u2018From Foster Care to Billionaire,\u2019 he blanketed local television and advanced to a June runoff, knocking out Secretary of State Brad Raffensperger. He\u2019ll face Lt. Gov. Burt Jones, who has funded his own campaign to the tune of $17 million.\u201d<\/p>\n

MS NOW\u2019s Ja\u2019han Jones similarly reported on the waning influence of Big Tech executives on Wednesday.<\/p>\n

\u201cMultiple candidates backed heavily by Big Tech executives floundered in Tuesday\u2019s primary elections, as concerns about the corrosive effects of new technologies such as artificial intelligence tools continue to mount,\u201d Jones wrote. \u201cThe clearest examples came in California, where tech executives spent ungodly amounts of money attempting to make sure their chosen candidates emerged victorious.\u201d<\/p>\n

To illustrate his point, Jones listed California gubernatorial candidate San Jose Mayor Matt Mahan, who lost despite being funded by tech executives like Google co-founder Sergey Brin and pro-Trump Palantir co-founder Joe Lonsdale, as well as Ethan Agarwal, a tech investor funded by pro-Trump Silicon Valley executive Marc Andreessen and who challenged Rep. Ro Khanna (D-CA) by opposing Khanna\u2019s proposed one-time 5 percent wealth tax on billionaires.<\/p>\n

Read more Trump official exposes the GOP\u2019s sadistic campaign to destroy healthcare<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If there is one lesson that has emerged from the 2026 midterm election primaries, it is that Democrats and Republicans react very differently to ultra-rich candidates.\u201cTom Steyer ran for governor of California as a climate crusader endorsed by Bernie Sanders\u2019 political organization, Our Revolution,\u201d…<\/p>\n","protected":false},"author":1,"featured_media":1075,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nEconomic crisis turns voters against wealthy self-funders - Next Address America<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nextaddressamerica.com\/?p=1076\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic crisis turns voters against wealthy self-funders - 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