{"id":1534,"date":"2026-05-27T15:32:17","date_gmt":"2026-05-27T22:32:17","guid":{"rendered":"https:\/\/losangelesmovinginsider.com\/index.php\/2026\/05\/27\/billionaire-tom-steyers-ad-spending-breaks-records-in-california-governors-race\/"},"modified":"2026-05-27T15:32:17","modified_gmt":"2026-05-27T22:32:17","slug":"billionaire-tom-steyers-ad-spending-breaks-records-in-california-governors-race","status":"publish","type":"post","link":"https:\/\/losangelesmovinginsider.com\/index.php\/2026\/05\/27\/billionaire-tom-steyers-ad-spending-breaks-records-in-california-governors-race\/","title":{"rendered":"Billionaire Tom Steyer\u2019s ad spending breaks records in California governor\u2019s race"},"content":{"rendered":"
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LOS ANGELES (AP) \u2014 Win or lose, billionaire Democrat Tom Steyer will leave a mark in the history books in his bid to become California\u2019s next governor \u2014 he\u2019s running the most expensive political advertising campaign in the country this year.<\/p>\n

Read more Trump says he has been invited to watch the Knicks play in the NBA Finals<\/a><\/p>\n

Steyer \u2014 a former hedge fund manager turned liberal activist \u2014 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 AdImpact.<\/p>\n

His torrent of ads has opened the one-time presidential candidate to criticism that he is trying to buy the governor\u2019s chair, and his ad total represents more than 20 times the amount spent by his nearest rival, fellow Democrat Xavier Becerra, as the two duel for a spot in the November election.<\/p>\n

Nationally, his spending is unparalleled \u2014 no one is even close.<\/p>\n

In Georgia, Republican health care executive Rick Jackson has spent about $83 million on advertising in his primary race for governor, which is headed for a June runoff, ranking him second. The third place spot is held by his Republican rival, Lt. Gov. Burt Jones, who has President Donald Trump\u2019s endorsement and has spent nearly $31 million on ads, according to AdImpact.<\/p>\n

Following Jones was Democratic U.S. Rep. Raja Krishnamoorthi of Illinois, who spent over $28 million on advertising in a failed bid for U.S. Senate.<\/p>\n

Trying to \u2018buy the governor\u2019s office?\u2019<\/h4>\n

Katie Porter, a former U.S. House member who is among seven established Democrats in the California race, has repeatedly criticized Steyer for dipping into his personal fortune to keep ads in front of voters with scant competition from rivals.<\/p>\n

\n<\/div>\n

\u201cHe\u2019s not earning support \u2014 he\u2019s buying this seat,\u201d her campaign wrote in an email to supporters Wednesday.<\/p>\n

In raw numbers, Steyer\u2019s ad blitz has eclipsed the 2010 record set by Republican Meg Whitman, who spent $178.5 million in total on a losing bid for governor, much of it her own money. At the time, it was the costliest campaign for statewide office in the nation\u2019s history. When adjusted for inflation, however, Whitman still holds the state record, but that represented spending for the full election, not just the primary.<\/p>\n

A crowded field with no clear leader<\/h4>\n

Steyer\u2019s record-level output has lifted him into contention in the crowded race, but he\u2019s not breaking away from the field. He\u2019s among a leading group of several candidates \u2014 including Becerra and Republican Steve Hilton \u2014 as the campaign heads toward a June 2 primary. Mail voting started earlier this month.<\/p>\n

Still, Steyer\u2019s cash advantage is giving him a publicity edge as the contest enters its crucial final days. He\u2019s maintained a steady flow of advertising and online posts questioning Becerra\u2019s credentials and record, with Becerra, a former state attorney general and Biden administration health secretary, lacking the funds to reply in kind.<\/p>\n

\n<\/div>\n

One Becerra ad sought to connect with voters who might be getting bleary-eyed from the cascade of Steyer advertising. It used tranquil scenes of Joshua trees, waves curling on a beach and soaring redwoods, with a gentle prod: \u201cYou can stop the endless Tom Steyer ads. Vote Xavier Becerra.\u201d<\/p>\n

Steyer\u2019s financial edge has allowed him to stretch the boundaries of his campaign far beyond traditional TV and radio ads, with steady posts on online platforms like YouTube and Instagram. The New York Times reported that his campaign paid a progressive Texas influencer $100,000 to help Steyer win the election. The Sacramento Bee reported that Becerra, too, had hired an influencer.<\/p>\n

Read more Carney says Canada will buy European surveillance planes over two American options<\/a><\/p>\n

In a statement, Steyer spokesperson Kevin Liao did not directly address the campaign\u2019s spending but pointed to millions of dollars pumped into ads by independent groups backed by Pacific Gas and Electric Co., real estate agents and others seeking to defeat the billionaire, who has promised to \u201cbreak up the electric monopolies in California.\u201d<\/p>\n

Speaking to reporters Wednesday in Berkeley, Steyer defended his spending in the race, saying he was fighting against powerful corporate interests that are driving up the price of living in the state.<\/p>\n

\u201cThe corporations and billionaires have spent a record amount against me,\u201d Steyer said. \u201cI\u2019m only working for the people of California.\u201d<\/p>\n

Many voters have been slow to vote in a race without a star candidate and no clear leader. More than 50 names will be on the ballot. California uses a \u201ctop two\u201d primary system that puts all candidates on one ballot, with only the top two vote-getters advancing to November, regardless of party.<\/p>\n

\u201cIn a race this close, it all matters,\u201d said Democratic consultant Andrew Acosta.<\/p>\n

Money doesn\u2019t always make the difference<\/h4>\n

History shows that money doesn\u2019t always translate into votes.<\/p>\n

Billionaire developer Rick Caruso spent over $100 million in 2022 in his bid to become Los Angeles mayor, much of it his own money, but he was handily defeated by Mayor Karen Bass, who spent a fraction of Caruso\u2019s total. Billionaire former New York City Mayor Michael Bloomberg spent more than $1 billion of his own money on his 2020 presidential bid before dropping out. And Steyer\u2019s money was unable to lift him into contention in the 2020 presidential contest, from which he dropped out early in the year after a poor finish in the South Carolina primary.<\/p>\n

Democratic San Jose Mayor Matt Mahan\u2019s campaign for governor was supported by independent committees bankrolled by millions of dollars from tech leaders and venture capitalists, yet he failed to gain traction in the race.<\/p>\n

Steyer has never held elected office.<\/p>\n

In a 2019 interview with The Associated Press, Steyer was asked what he would say to people who think he\u2019s trying to buy the presidency.<\/p>\n

\u201cI don\u2019t think that\u2019s possible,\u201d Steyer said at the time, before adding, \u201cI\u2019m never going to apologize for succeeding in business. That\u2019s America, right?\u201d<\/p>\n

The contest is unfolding as California struggles with a long-running homeless crisis, wildfire insurance shortages, projected budget shortfalls and housing costs that are out of reach for many working-class families. Voters, meanwhile, are saddled with growing everyday bills for groceries, utilities and gas.<\/p>\n

The AdImpact data does not include ads on some popular streaming services, like Hulu and YouTube, or mail advertising.<\/p>\n

Read more Cardiff church breaks ground on senior housing at its campus<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The lavish spending has lifted the former hedge fund manager turned liberal activist into contention in the crowded race.<\/p>\n","protected":false},"author":1,"featured_media":1533,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-politics"],"yoast_head":"\nBillionaire Tom Steyer\u2019s ad spending breaks records in California governor\u2019s race - Los Angeles Moving Insider<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/losangelesmovinginsider.com\/index.php\/2026\/05\/27\/billionaire-tom-steyers-ad-spending-breaks-records-in-california-governors-race\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaire Tom Steyer\u2019s ad spending breaks records in California governor\u2019s race - 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