Billionaire Tom Steyer’s ad spending breaks records in California governor’s race
Steyer’s ad blitz has outspent his nearest rival by more than 20 to 1, giving him a publicity edge in a crowded primary.
- Billionaire Democrat Tom Steyer has spent or booked more than $195 million in broadcast, cable and radio ads for his California governor's race, running the most expensive political advertising campaign in the country this year according to AdImpact.
- A crowded field with no clear leader has driven Steyer's financial strategy in California's top-two primary system, which puts all candidates on one ballot with only the top two advancing to November regardless of party affiliation.
- Steyer's ad spending dwarfs Becerra's by more than 20 times, prompting former U.S. House member Katie Porter to question whether he is attempting to 'buy the governor's office' as mail voting began earlier this month.
- The former hedge fund manager has extended his campaign beyond traditional ads through YouTube and Instagram posts questioning Becerra's record, while his campaign paid a Texas influencer $100,000 to help him win.
- Past campaigns suggest limits to financial advantage; Republican Meg Whitman's $178.5 million loss in 2010 and billionaire developer Rick Caruso's defeat despite over $100 million in 2022 demonstrate that money does not always translate into votes.
46 Articles
46 Articles
Steyer sinks $195 million into California campaign for marginal polling gains
Billionaire Tom Steyer, a Democrat who’s running for governor of California, broke the record for the most money spent on a political campaign this year with an advertising buy worth at least $195 million. However, the campaign spending isn’t entirely translating to poll performance. Steyer has recently made some gains, but he generally remains behind fellow Democrat Xavier Becerra and Republican candidate Steve Hilton ahead of next week’s guber…
Billionaire Tom Steyer Buys California Governor Race with Record-Breaking Cascade of Non-Stop Ad Spending
Billionaire investor and climate activist Tom Steyer has emerged as the dominant financial force in the 2026 California governor's race after pouring unprecedented sums of money into advertising across television, radio, streaming services, and social media. His campaign is now described as one of the most expensive state-level election efforts ever seen in the United States. According to data compiled by ADImpact, Steyer has already spent or re…
Billionaire Tom Steyer’s record spending dominates California governor race
Steyer, a former hedge fund manager and now prominent liberal activist, has already committed over $195 million to broadcast TV, cable, and radio advertisements, a figure that continues to climb, according to data compiled by advertising tracker AdImpact
Billionaire Democrat Steyer runs nation's most expensive campaign of the year
Win or lose, billionaire Democrat Tom Steyer will leave a mark in the history books in his bid to become California's next governor hes running the most expensive political advertising campaign in the country this year.Steyer a former hedge fund manager turned liberal activist has spent or booked more than $195 million in ads for broadcast TV, cable and radio with the tally still growing, according to data compiled by advertising tracker AdImpac…
Tom Steyer's record ad spending reshapes California governor race
Los Angeles: Win or lose, billionaire Democrat Tom Steyer will leave a mark in the record books in his bid to become California’s next governor — he is running the most expensive political advertising campaign in the country this year.Steyer, a former hedge fund manager turned liberal activist, has spent or booked more than $195 million on ads for broadcast TV, cable and radio, with the total still rising, according to data compiled by advertisi…
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