SAN FRANCISCO (KRON) — Democratic billionaire activist Tom Steyer announced Wednesday that he is running for governor of California.
A former presidential candidate, Steyer said that his priority as governor would be affordability for California residents.
“Californians deserve a life they can afford,” Steyer said in a statement. “But the Californians who make this state run are being run over by the cost of living. We need to get back to basics. And that means making corporations pay their fair share again.”
Steyer promises to close offshore and property tax loopholes used by corporations and lower electric bills by 25%. He will also campaign on building 4 million homes in four years, providing free public education “from three years old through community college,” and banning PAC money from California elections.
“Californians deserve a top ten education state. They deserve to be able to afford to live in a decent house,” Steyer said in a campaign launch video. “We have the second-highest electricity rates in the country. If we break up the monopolistic power of utilities, we’re going to unleash a complete wave of innovation and drop our sky-high energy prices.”
After making his fortune as founder of San Francisco-based hedge fund firm Farallon Capital, Steyer started the environmental nonprofit NextGen America.
Steyer joins a crowded field of Democratic candidates, including former Orange County Rep. Katie Porter, former Los Angeles Mayor Anthony Villaraigosa, and former U.S. Secretary of Health and Human Services Xavier Becerra. Republican candidates who have announced their running include former Fox News host and contributor Steve Hilton and Riverside County Sheriff Chad Bianco.