Tom Steyer wastes $550 million and ‘everyone’s time’ in failed gubernatorial and presidential bids

Published June 9, 2026 2:42pm ET | Updated June 10, 2026 9:47am ET



Billionaire Tom Steyer, who had been polling near the top of the leaderboard for California governor, sank more than $213 million of his own money into what now increasingly looks like a futile bid. 

While the Associated Press has not officially called the primary contest, a week after polls closed, the vote count as of Tuesday afternoon had Steyer in third.

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