A wealthy businessman and activist, Tom Steyer, has entered the race for California's governor. At 68, he brings a significant amount of personal wealth to the table, making him a strong contender in the crowded field. The race includes more than half a dozen Democrats and two Republicans, all vying for a spot in the November general election.

Steyer's campaign focuses on improving the economic conditions for everyday Californians. He argues that the state's high cost of living is squeezing the people who keep it running. This stance puts him at odds with other candidates like Congresswoman Katie Porter and former Los Angeles Mayor Antonio Villaraigosa.

Steyer's wealth could give him an edge in reaching voters through extensive advertising. However, history shows that money alone doesn't guarantee success in California politics. For example, Carly Fiorina and Meg Whitman spent millions of their own money on campaigns and still lost.

Steyer acknowledges his wealth but takes a populist stance, criticizing the idea that the rich earned everything themselves. He promises to make corporations pay their fair share of taxes. He has a track record of advocating for similar measures, such as a 2012 ballot initiative that raised taxes on corporations and a 2016 campaign that increased tobacco taxes.

Steyer has been politically active in the past, spending millions to push for President Donald Trump's impeachment and running for the 2020 Democratic presidential nomination. He ended his presidential bid after poor showings in early primaries.

His latest campaign comes as some Democrats question Porter's candidacy following her public clashes with a TV journalist. Steyer has long been seen as a potential heavyweight candidate, along with Kamala Harris and Senator Alex Padilla. However, Harris has said she has no plans to run for governor, and Padilla intends to stay in the Senate.

TOM STEYER

Wealthy Contender Joins California Governor Race

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