Billionaire Philanthropist Tom Steyer Announces Presidential Bid
Summary from the AllSides News Team
Billionaire activist and philanthropist Tom Steyer has entered the Democratic nomination race for the 2020 Presidential election.
Steyer, a former hedge fund manager, used roughly $65 million of his own money to back various Democratic candidates in the 2016 Election. After President Donald Trump won in '16, Steyer spent nearly $40 million on a national campaign calling for Trump's impeachment. He's also committed to spending at least $100 million on his own 2020 campaign.
Outlets throughout the political spectrum focused coverage on comparing Steyer's wealth, influence and policy goals to the other candidates he's facing, with the majority of voices agreeing that in spite of his financial status, his chances of winning the nomination are slim.
Featured Coverage of this Story
From the Left
Steyer to draw on California methods in presidential bid
SAN FRANCISCO — Billionaire activist Tom Steyer says he will use “the exact same methods” in his fledgling Democratic presidential campaign that he’s used for more than a decade in California, where he has registered hundreds of thousands of voters and thrown millions into passing several major ballot measures.
“We’re a get-out-to-the-people, directly-address-the-people organization,’’ Steyer told POLITICO Tuesday. “I’ve been an outsider this whole time in Democratic politics."
From the Center
How Tom Steyer Made His $1.6 Billion Fortune
Michael Bloomberg refused to run. Howard Schultz is still on the fence. That makes Tom Steyer, a former hedge fund manager from California, the first billionaire to officially challenge America’s first billionaire commander-in-chief for the presidency.
Forbes estimates Steyer’s net worth to be $1.6 billion, making him about half as rich as Trump (worth $3.1 billion) but far wealthier than any other presidential candidate. He has an 1,800-acre cattle ranch and a San Francisco mansion with views of the Golden Gate Bridge. But he mostly focuses his fortune on...
From the Right
Billionaire Tom Steyer Enters Presidential Race, Vowing To Get Corporations Out of Politics
Billionaire Tom Steyer—whose name recognition of late centers around his campaign to impeach President Donald Trump—officially entered the presidential race on Tuesday, vowing to confront corporations and lessen their sway over the political system.
"I think people believe that the corporations have bought the democracy. That the politicians don't care about them or respect them," he said in a video announcement. "Really what we're trying to do is make democracy work by pushing power down to the people."
Although Steyer has not yet outlined a policy platform, he has been...
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