Nearly half a billion dollars, two campaigns, and an Eric Swalwell outburst later, Tom Steyer suddenly appears closer than ever to winning elected office.
Sacramento elected officials and strategists initially rolled their eyes when billionaire climate activist started making noise","Add":{"Target": :"New","Property":(),"url": :"https://www.politico.com/news/2025/10/16/tom-steyer-infuriating-democrats-again-00612185","_Identification": :"0000019d-968b-df59-a39f-bedba7eb0002","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7eb0003","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>prepare For his run for governor of California, recalling how he invested nearly $340 million in his unsuccessful 2020 presidential bid","Add":{"Target": :"New","Property":(),"url": :"https://www.politico.com/news/2020/02/29/steyer-drops-out-of-2020-race-118370","_Identification": :"0000019d-968b-df59-a39f-bedba7eb0004","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7eb0005","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>Unsuccessful 2020 presidential bid It looked like a high-priced vanity project. But with a $120 million advertising blitz and solid courting of the state’s progressive forces, Steyer catapulted himself into the top tier of the wide-open race.
He is spending more on advertising than any other campaign in the US so far this cycle, including extensive campaigning for Democrats in California. Just weeks before the June primary, he has already nearly quadrupled the $33 million he spent on Gavin Newsom’s 2018 run for governor.
And with Swalwell’s exit following allegations of sexual misconduct and assault, Steyer — more than any other contender here — is picking up the pieces. On Tuesday, the heavily favored California Teachers Association, which had endorsed Swalwell, threw its support behind him. Even President Donald Trump Have taken notice – Steyer is likely to benefit from this.","Add":{"Target": :"New","Property":(),"url": :"https://pbs.twimg.com/media/HF9nVCrbEAUGiS9?format=jpg&name=large","_Identification": :"0000019d-968b-df59-a39f-bedba7eb0006","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7eb0007","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>has taken notice – this is likely to benefit Steyer.
“I’ve been hoping for a long time that Tom would drop out of the group, and I want to be part of that momentum,” said Representative Jared Huffman, who endorsed Steyer on Sunday. “This pie is now being made very differently, and Tom has a tremendous opportunity to position himself at the front of the pack.”
Steyer’s spending allowed him, along with Swalwell and former Representative Katie Porter, to steadily climb out of the low single digits and into the upper echelons of an affluent Democratic field. Now, with Swalwell out, Steyer is dominating the airwaves, with a rotation of commercials making him nearly omnipresent in California’s expensive media markets.
The endorsement of the Teachers Association was a major victory for Steyer. And there may be more to come. Major labor groups such as CTA and SEIU had strongly considered supporting Steyer before choosing Swalwell and later withdrawing their support.
Steyer worked hard to appeal to workers and vowed to advocate for priorities like commercial property tax increases that have long eluded unions. He took on groups representing nurses and school employees, but convincing the union rank and file to support the billionaire was still a difficult task.
Now supporting CTA can send a signal to a wider area. A political consultant who worked on the governor’s race and was granted anonymity to speak candidly said the “billion dollar question” was where Swalwell’s supporters would go — noting that if a contender gains momentum, there may be a rush to get on board.
“The area that was claimed is up for grabs,” the adviser said. “If the polls show that Steyer has picked up what Swalwell left on the floor, there will be a race to get past him.”
The pushback from Swalwell’s supporters began almost immediately after San Francisco Chronicle","Add":{"Target": :"New","Property":(),"url": :"https://www.sfchronicle.com/politics/article/eric-swalwell-allegations-22198271.php","_Identification": :"0000019d-968b-df59-a39f-bedba7eb0008","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7eb0009","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>San Francisco Chronicle And cnn","Add":{"Target": :"New","Property":(),"url": :"https://www.cnn.com/2026/04/10/us/eric-swalwell-sexy-misconduct-allegations-invs","_Identification": :"0000019d-968b-df59-a39f-bedba7eb000a","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7eb000b","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>cnn Published stories on Friday detailing allegations of sexual harassment and abuse against him.
“It may be hard for you to believe, but there are a lot of calls coming in,” Steyer told reporters this week.
A trickle on Friday turned into a waterfall over the weekend as claimants made their case to elected officials and groups who had rejected Swalwell. Porter contacted former House colleagues. Steyer worked among the labor groups that elected Swalwell to replace him.
“Each campaign is trying their best to pull all of Swalwell’s people into their camps — they’re all doing their job,” said Assemblywoman Tasha Boerner, who did not endorse Swalwell and gave her support to Steyer.
Even with Swalwell gone, the gubernatorial race is crowded and the abundance of money is not enough to make Steyer the sole contender. It’s possible he’ll simply make his way to the roof.
“He can promote himself, he can do negative work on Katie (Porter), he can do negative work on (San Jose Mayor Matt) Mahan — he can do it all,” said Addisu Demissie, a Democratic consultant and veteran of statewide races. “But the flashing yellow light is this: They spent $120 million to hook up with Eric Swalwell and are now potentially tied with Katie Porter — would another $120 million fundamentally change that?”
Porter hammered that point home in a memo compiled before Swalwell suspended his campaign, stating that she was in a close race with Steyer despite his heavy spending. The memo also cites polls showing that Porter Swalwell was the second choice for a plurality of voters – a finding also echoed in the Politico poll.
Meanwhile, supporters of tech-backed San Jose Mayor Mahan, who has trailed in the polls, have reportedly raised millions of dollars in their super PAC. The group argued in a memorandum ","Add":{"Target": :"New","Property":(),"url": :"https://pbs.twimg.com/media/HF4e9HaasAU-0EG?format=jpg&name=large","_Identification": :"0000019d-968b-df59-a39f-bedba7eb000c","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7eb000d","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>in a memorandum Mahan is “the new face voters are excited to meet” this week as his campaign placed him in third place in an internal poll. Other low polling candidates also Watch a long-awaited breakout moment. ","Add":{"Target": :"New","Property":(),"url": :"https://politi.co/4stHG2p","_Identification": :"0000019d-968b-df59-a39f-bedba7eb000e","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7eb000f","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>Watch a long-awaited breakout moment.
And the anti-Steyer PAC – funded by real estate developers and energy utility interests, concerned by Steyer’s calls to raise the commercial property tax cap and break up public utilities – is running aggressive ads.","Add":{"Target": :"New","Property":(),"url": :"https://www.politico.com/newsletters/california-playbook-pm/2026/04/08/steyer-private-prison-ad-00864330","_Identification": :"0000019d-968b-df59-a39f-bedba7ec0000","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7ec0001","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>running invasive ads Steyer for his previous investments in private prisons. Spokeswoman Amelia Matier said in a statement that “the stakes of this race remain the same” and “we will not sit by and let a hedge fund billionaire buy the governor’s office.”
But ad wars can lead to unexpected results, as happened in the 1998 governor’s race, where two high-spending candidates essentially canceled each other out, handing the governorship to Gray Davis.","Add":{"Target": :"New","Property":(),"url": :"https://www.ocregister.com/2009/10/14/dan-walters-murder-suicide-campaign/","_Identification": :"0000019d-968b-df59-a39f-bedba7ec0002","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7ec0003","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>Gray essentially canceled each other out, handing the governorship to Davis.
“There are more interests and individuals who are opponents of someone than are supporters of someone,” DeMisi said. “If you go against Steyer, who will he help, and do you like that person?”
Börner’s winding path to support the stayer symbolizes an exceptionally fluid race. He is the fifth candidate he has supported, after withdrawing his previous choice. He said in an interview that Steyer shared his vision of pursuing an ambitious environmental agenda and taking on the utilities, which Steyer has vowed to dismantle.","Add":{"Target": :"New","Property":(),"url": :"https://www.politico.com/newsletters/california-climate/2025/11/19/steyers-in-climates-still-out-00661240","_Identification": :"0000019d-968b-df59-a39f-bedba7ec0004","_Type": :"33ac701a-72c1-316a-a3a5-13918cf384df"},"_Identification": :"0000019d-968b-df59-a39f-bedba7ec0005","_Type": :"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>Steyer has vowed to destroy.
But behind those policy ideas lies a cold political calculation. Democrats began lining up behind Swalwell to prevent the vote from being split so drastically that two Republicans took the top two spots in California’s open primary. Now some believe Steyer is the best person to prevent party disaster.
Assembly member Corey Jackson, who, like Boerner, switched his allegiance, said, “I’m not just interested in electing someone that I can agree with 100 percent, I’m looking for someone that we can work with to make sure that we have a Democrat in Sacramento.”
Jackson said he believed Swalwell was “building a governing coalition” that was divided among various factions of the Democratic Party. With Swalwell out, Jackson said, Steyer is “starting to do the same thing.”
“Obviously in the beginning he was trying to rally progressives behind him, but now he’s starting to realize he needs to do even more to build a coalition,” Jackson said.
Blake Jones contributed reporting.
