Our Revolution, a group backed by Sen. Bernie Sanders, has endorsed billionaire Tom Steyer in California's Democratic gubernatorial primary despite its opposition to billionaires. The endorsement marks the first time the organization has backed a billionaire for public office. Steyer leads polling among Democrats ahead of the June 2 top-two primary.
Our Revolution addressed the unusual endorsement in a press release, noting Steyer's wealth but emphasizing his actions. 'It matters what he is doing with that power: pushing for taxes on the wealthy, expanding universal programs, and dismantling corporate influence in our politics,' the group stated. Executive Director Joseph Geevarghese said, 'Tom Steyer understands that California’s affordability crisis is not inevitable — it’s the result of a political system shaped by concentrated wealth and corporate power at the expense of working people.' He added, 'At a moment when too many defend the status quo, Tom has taken a different path — challenging the very system that benefits people like him.' Steyer responded that he is 'honored' by the support and pledged to 'work tirelessly to realize our shared vision of a California that works for working people' as governor. The group, which promotes efforts to 'Defund Oligarchy' and reduce the influence of billionaires and corporations in politics, made the announcement via an X post. Steyer, a climate activist with a $2.4 billion net worth from his hedge fund Farallon Capital according to Forbes, has spent tens of millions on advertising in the race, as he did in his unsuccessful 2020 presidential bid. Recent polling from RealClearPolling shows him as the top Democrat ahead of the June 2 jungle primary, where the top two candidates advance to November regardless of party. The field shifted after Rep. Eric Swalwell dropped out following sexual misconduct allegations and resigned from Congress. Former State Controller Betty Yee exited on Monday due to poor polling. Competitors include former Rep. Katie Porter, ex-Health Secretary Xavier Becerra and San Jose Mayor Matt Mahan. Republicans Steve Hilton and Chad Bianco are polling strongly, raising the possibility of both top spots going to their party. Gov. Gavin Newsom has not endorsed anyone.
