Tom Steyer Concedes in California Governor’s Race

Tom Steyer announced his concession in the California governor’s race on Tuesday, acknowledging he did not have the votes to advance to the November election.

“It’s now clear that we do not have the votes necessary to advance to the general election in November,” Steyer wrote in a letter posted on X.

Following California’s jungle primary, the contest has narrowed to two candidates. Steve Hilton, a former Fox News host, will face Xavier Becerra, a former Health and Human Services Secretary, in the upcoming gubernatorial election.

Steyer, a billionaire hedge fund founder who transitioned to environmental activism, joined the race following over a decade of involvement in state politics and environmental issues. He invested more than $200 million of his own money into his campaign. He previously campaigned for the Democratic presidential nomination in 2020.

During his campaign for governor, Steyer supported a progressive platform, advocating for the abolition of ICE, increased taxes on the wealthy, and universal healthcare. He received an endorsement from Sen. Bernie Sanders, I-Vt., who has been critical of billionaire involvement in politics.

In his concession, Steyer attributed the race’s outcome to significant corporate influence.

“By spending $55 million – the most ever against a single candidate in a California primary – they showed the lengths they would go to in order to protect a status quo that only serves them and their profits,” he said, referring to opposition spending by corporations like Chevron, PG&E, and Meta.

Steve Hilton, the Republican candidate, and Xavier Becerra, the Democratic candidate, are now preparing for the November election. Hilton has received backing from former President Trump.

“This campaign proved that business-as-usual depends on politics-as-usual, and there is no going back,” Steyer stated. “We must continue to fight for a system where democracy serves Californians, not corporations – and where you do not have to be a billionaire to run on single-payer, or on breaking up monopolies, or on calling out a corrupt system when you see it.”

California’s governor’s race uses a “jungle primary” system, placing all candidates on a unified ballot regardless of party. The top two finishers move to the general election, setting up a potential showdown between candidates from the same party.