Steyer’s populist gamble in California fizzles after record spending
TL;DR
Tom Steyer spent over $200 million campaigning to succeed Gavin Newsom with an anti-corporate, populist platform, but his wealth-created narrative failed to win over pivotal progressive voters, who doubted his authenticity and viewed him through the baggage of his fortune and past investments. Despite targeting utilities, taxes on the rich, and single-payer health care, Steyer couldn’t overcome the paradox of railing against corporations while being a billionaire, and he finished behind Xavier Becerra and a Republican challenger, underscoring the limits of elite spending in a crowded, uninspiring race.
- Californians didn’t buy billionaire Tom Steyer’s ‘class traitor’ message Politico
- More than $200 million later, Tom Steyer’s second bid for elected office is done NBC News
- Contributor: Tom Steyer's stumble shows the perils facing self-funded candidates Los Angeles Times
- Billionaire Tom Steyer Doesn't Make California Governor Runoff After $200 Million Campaign Forbes
- Steyer campaign may highlight limits of money in elections, experts say The Desert Sun
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