$46.7M
NOV 4, 2026
General Election
Voters choose the office holder.
Current roleBusinessman
PartyDemocratic
Political ideologyProgressive Democrat
Age68 years old (Jun 27, 1957)
GenderMale
LocationCalifornia
BackgroundBusinessman
EducationYale University (BA)
Notable personal detailsThomas Fahr Steyer is an American businessman, investor, philanthropist, and Democratic political activist. He founded the hedge fund Farallon Capital and later became prominent for climate advocacy and political spending through efforts such as NextGen America and Need to Impeach. He ran for the Democratic presidential nomination in 2020 and announced a campaign for California governor in November 2025.
Supports significant tax increases on the very wealthy and closing capital-gains/dividend loopholes to fund expanded social programs; proposes a wealth tax (1% above ~$32 million) and rolling back tax cuts for the wealthy while delivering targeted tax relief for working families. Advocates using revenue from higher taxes on top earners and corporations to expand healthcare, education, infrastructure, and other public investments.
Supports health care as a right and favors building on the Affordable Care Act with a public option rather than implementing Medicare-for-All that would eliminate employer plans. Advocates using government purchasing power and regulation to drive down costs while preserving choice for those with employer-negotiated coverage.
Supports comprehensive, humane immigration reform including a pathway to citizenship, reinstating DACA and expanding TPS, ending family separation and abolishing private immigration detention; opposes construction of a southern border wall while advocating for "smart" border security and reforms to ICE/CBP to prioritize due process and national security. Would decriminalize border crossings (use civil processing) and limit deportations to those convicted of felony crimes, and seeks to expand refugee admissions and asylum protections.
The candidate explicitly identifies as pro‑choice, describes abortion as health care, and supports repealing the Hyde Amendment and protecting reproductive rights. He has worked with and funded pro‑choice organizations and stated he will back policies to preserve abortion access. These positions indicate support for unrestricted access and federal protections for abortion rights.
Supports aggressive climate action including declaring a national climate emergency, backing Green New Deal–style legislation, targeting 100% clean electricity by 2040 and net-zero greenhouse gas emissions by 2045, and large federal investments in clean energy and a civilian climate corps.
Supports strong federal gun safety reforms including universal/background checks, a federal licensing system for gun ownership, waiting periods, red flag (extreme-risk) laws, a ban on new assault weapons and high-capacity magazines, and creation of a federal Office of Gun Violence Prevention. Also supports measures like voluntary buybacks, regulation of ghost/3D-printed guns, and repeal of industry liability protections to increase accountability.
Steyer’s California governor contract fell to 1.5% while AP/LA Times reporting says Xavier Becerra has advanced and Steve Hilton is highly favored for the other November slot, leaving Steyer with a much weaker runoff path.
Steyer’s California governor contract has fallen to 1.5% with AP and Los Angeles Times now treating Xavier Becerra as advanced and Hilton as the likely remaining runoff candidate, which materially weakens Steyer’s path to November.
Steyer’s win price jumped back to 19% on heavy volume while California’s governor primary count remains uncalled, keeping the second general-election spot live for traders.
Tom Steyer has fallen short in California’s governor’s race, finishing third in the state’s top-two primary and failing to advance to the November runoff. He conceded after the results became clear, with Steve Hilton and Xavier Becerra moving on instead. The race drew attention because Steyer spent more than $200 million of his own money, but it was not enough to secure a top-two finish.
Aggregation source: FiftyPlusOne
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We're monitoring and will update when new data impacts the race.
