Steyer's Billion-Dollar Gamble: Can Money Buy Votes?

0:00Billionaire Tom Steyer is throwing his 2.4 billion dollar fortune into the race for California governor, pitching himself as the rich guy, ready to tax other rich folks and big corporations. This Democrat founded one of the world's biggest hedge funds, but now pushes progressive ideas like higher taxes on the wealthy, earning nods from. Groups that say billionaires shouldn't even exist. A head of the June 2nd primary, he's the top spender, dropping cash on ads way more than rivals. Steyer built his wealth at Fairlong Capital starting in 1986, investing in fossil fuels while pouring millions into climate fights, like defending California's emissions cuts. He quit the hedge fund in 2012 to launch next gen America, pushing young voters and climate action, and he sunk over 62 million dollars into state ballot fights, from tobacco taxes to failed bail reform. Progressives see him as one of the good billionaires, backing his calls for single-payer health

1:00care and breaking up utility giants like Pacific Gas and Electric. Lawmakers like Assemblyman Alex Lee endorse him despite the wealth gap, while business lobbies head back hard, spending 10 millions to call out his. Plans as job killers that high costs. Rivals like Katie Porter blasts his fossil fuel past, but Steyer flips it, saying attacks prove he's real. He's outspent opponents nearly 30 times on TV spots, attacking rivals, and touting fixes for climate, housing costs, and corporate power. His 2020 presidential run flopped despite heavy ad buys in South Carolina, where billions became a drag, but now are revolution, Bernie. Sanders crew, cheers his anti-corporate vibe. With California's massive economy on the line, Steyer's money machine faces its biggest test, can this class trade herself turn dollars into votes? Before primary day hits, local news powered by AI. This is Durham News Today. I'm Corey with The Story.