{"id":1341,"date":"2026-06-10T08:06:48","date_gmt":"2026-06-10T08:06:48","guid":{"rendered":"https:\/\/nextaddressamerica.com\/?p=1341"},"modified":"2026-06-10T08:06:48","modified_gmt":"2026-06-10T08:06:48","slug":"billionaire-title-becomes-an-anchor-in-california-governors-race","status":"publish","type":"post","link":"https:\/\/nextaddressamerica.com\/?p=1341","title":{"rendered":"Billionaire title becomes an anchor in California governor’s race"},"content":{"rendered":"
\n

Billionaire Tom Steyer is officially out of the 2026 California gubernatorial race.<\/p>\n

Read more Ex-prosecutor warns \u2018ferrets\u2019 in Trump\u2019s brain biting deeper into the grey matter<\/a><\/p>\n

Steyer lost to both fellow Democrat and former United States Secretary of Health and Human Services Xavier Becerra and a Republican, former Fox News host Steve Hilton. While Becerra was able to advance to the runoff relatively quickly after Election Night, Steyer and Hilton continued to face off against each other until Tuesday night.<\/p>\n

Working against Steyer was the fact that he would have needed roughly one-third of the remaining roughly 1.3 million votes, including from populous counties like Fresno and Riverside that are not home to large numbers of the high-income progressives who were more likely to back Steyer.<\/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 added. \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

Read more MAGA can\u2019t accept what their California loss means for their future: analysis<\/a><\/p>\n

Speaking to this journalist for Salon in 2020, Steyer argued that his political philosophy is based on the idea of regulating the free market to protect the environment and workers\u2019 rights.<\/p>\n

\u201cPeople always want to say \u2018free market,\u2019\u201d Steyer told Salon at the time. \u201cI mean, those were the words you used, \u2018free market economic structures.\u2019 There are no free markets! Every market has rules. And so do we need to change the rules in the market? Heck yes! The whole idea of a free market, like God came down and in the state of nature created a free market? There\u2019s no such thing. And just think about the labor market: Once upon a time, I could have hired a 12-year-old kid for 25 cents a day and worked him for 14 hours a day. Can\u2019t do it now.\u201d<\/p>\n

He added, \u201cYou know why? Because they changed the rules. Because all markets are driven by rules. I will say this: unchecked capitalism in this respect has failed and will fail. The way that we\u2019re going has failed and will fail.\u201d<\/p>\n

Read more Americans are on the brink of losing it all \u2014 and good people know it<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Billionaire Tom Steyer is officially out of the 2026 California gubernatorial race.Steyer lost to both fellow Democrat and former United States Secretary of Health and Human Services Xavier Becerra and a Republican, former Fox News host Steve Hilton. While Becerra was able to advance to the runoff r…<\/p>\n","protected":false},"author":1,"featured_media":1340,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nBillionaire title becomes an anchor in California governor's race - 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=1341\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaire title becomes an anchor in California governor's race - Next Address America\" \/>\n<meta property=\"og:description\" content=\"Billionaire Tom Steyer is officially out of the 2026 California gubernatorial race.Steyer lost to both fellow Democrat and former United States Secretary of Health and Human Services Xavier Becerra and a Republican, former Fox News host Steve Hilton. 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